The Good Neighbour Policy is an agreement amongst horse racing jurisdictions that they shall not provide betting on horse racing to residents of other signatory jurisdictions without the permission of that signatory jurisdiction, nor solicit, market nor advertise betting without prior authorisation from that other signatory jurisdiction.
The signatories to the agreement stated that its purpose was to show their unity in the cracking down on illegal, unlicenced or unauthorised offshore bookmakers on horse racing, in order to protect the revenue of the signatories.
It is viewed by some informed and interested observers as documenting an international cartel to defend the signatories from competition from commercial bookmakers and bet exchanges so as to maintain higher profits for themselves.
Initially signed by the Hong Kong Jockey Club and the Japan Racing Association in 2002. On September 1, 2003, representatives from the Australian Racing Board, the Hong Kong Jockey Club, the Turf Authorities of India, the Japan Racing Association, the Korea Racing Association, New Zealand Thoroughbred Racing, the Singapore Turf Club and the Jockey Club of Turkey signed the multilateral agreement in Hong Kong on September 1, 2003. The Asian Racing Federation also endorsed the agreement.
Famous quotes containing the words neighbour and/or policy:
“Certain it is that scandal is good brisk talk, whereas praise of one’s neighbour is by no means lively hearing. An acquaintance grilled, scored, devilled, and served with mustard and cayenne pepper excites the appetite; whereas a slice of cold friend with currant jelly is but a sickly, unrelishing meat.”
—William Makepeace Thackeray (1811–1863)
“Letting a hundred flowers blossom and a hundred schools of thought contend is the policy for promoting the progress of the arts and the sciences and a flourishing culture in our land.”
—Mao Zedong (1893–1976)