The Good Neighbour Policy is an agreement among horse racing bodies that no signatory shall provide

betting Gambling (also known as betting or gaming) is the wagering of something of value ("the stakes") on a random event with the intent of winning something else of value, where instances of strategy are discounted. Gambling thus requires three elem ...

on horse racing to residents of another signatory's jurisdiction without its permission, nor solicit, market nor advertise betting without prior authorisation from that other signatory. The signatories to the agreement stated that its purpose was to show their unity in cracking down on illegal, unlicensed or unauthorised offshore

bookmaker A bookmaker, bookie, or turf accountant is an organization or a person that accepts and pays off bets on sporting and other events at agreed-upon odds. History The first bookmaker, Ogden, stood at Newmarket in 1795. Range of events Bookm ...

s on horse racing, in order to protect the revenue of the signatories. It is viewed by some{{who, date=December 2018 as documenting an international

cartel A cartel is a group of independent market participants who collude with each other in order to improve their profits and dominate the market. Cartels are usually associations in the same sphere of business, and thus an alliance of rivals. Mos ...

to defend the signatories from

competition Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, indiv ...

from commercial bookmakers and

bet exchange A betting exchange is a marketplace for customers to bet on the outcome of discrete events. Betting exchanges offer the same opportunities to bet as a bookmaker with a few differences. Gamblers can buy (also known as "back") and sell (also known ...

s so as to maintain higher profits for themselves. The Policy was initially signed by the

Hong Kong Jockey Club The Hong Kong Jockey Club (HKJC) is one of the oldest institutions in Hong Kong, having been founded in 1884. In 1959, it was granted a Royal Charter and renamed The Royal Hong Kong Jockey Club (). The institution reverted to its original name ...

and the

Japan Racing Association The Japan Racing Association ( ja, 日本中央競馬会 Nippon Chūō Keiba Kai, or JRA) is a public company established to operate Chūō Keiba (中央競馬 Central horse racing) and to manage racecourses, betting facilities, and horse-training ...

in 2002. On September 1, 2003, representatives from the

Australian Racing Board The Australian Racing Board, established in 1998, is the peak national administration body for Thoroughbred racing in Australia. The statutory bodies for racing in each State or Territory, known as the Principal Racing Authorities, set up the Au ...

, 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 The Singapore Turf Club was founded in 1842 as the Singapore Sporting Club to operate the Serangoon Road Race Course at Farrer Park Field. It is the only horse-racing club in Singapore and is part of the Malayan Racing Association. The first r ...

and the Jockey Club of Turkey signed the multilateral agreement in

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delta i ...

on September 1, 2003. The

Asian Racing Federation {{no footnotes, date=January 2014 The Asian Racing Federation (ARF) is a regional federation comprising 29 national horse racing authorities and racing-related organisations from across Asia, Oceania, Africa and the Middle East. The ARF is formall ...

also endorsed the agreement.

External links

* http://news.bbc.co.uk/1/hi/world/asia-pacific/3197061.stm * http://racing.scmp.com/english/free/news/hkjc/Clubnews01092003.htm Horse racing Anti-competitive practices 2002 in horse racing