William Hill goes to battle with Betfair customers over horseracing levy The bookie and the British Horseracing Authority are challenging a ruling by a government body, which collects money to fund the sport, that customers of betting exchanges such as Betfair should not be subject to a levy. It argues that its customers are individuals and not businesses. Stephen Morana, Betfair's interim chief executive, said he is confident that the ruling by the Horserace Betting Levy Board last year would be upheld. Betfair has had a rocky ride since it floated in 2010 at £13 a share. But yesterday it reported a 56pc rise in full-year profits to £41.6m pre-tax, despite a 1pc dip in revenues to £389.7m after cancelling a telephone betting programme for high-rollers. Profits were boosted by record bets placed around events such as the Australian Open Tennis Championships, and strong growth in punters using their smartphones to gamble. Betfair, which makes its money by collecting commission from gamblers who win their bets, said customers had so far bet more than £1bn on Euro 2012.