Horseplayers who wager off-track in Ireland might be off the hook tax-wise if several of the nation's leading bookmakers pay the two percent betting tax themselves.

Bookmakers said paying the tax would become self-financing through increased wagering and prominent chains Boyle's, Cashmans of Cork, and Paddy Power have agreed to cover the costs of the tax.

"I think this will be widespread and I think I can safely say the rest of the industry will follow," Paddy Power Chief Executive Officer Stewart Kenny told Racing Post. "The industry is now financing Irish racing out of its profits even though it is not represented on the new board (of Horse Racing Ireland). But that is another day's work."

Kenny is also the spokesman for the Allied Betting Shops Association.