Racecourse Betting Control Board v Wild For the purpose of operating a totalisator, the owners of a racecourse erected certain buildings and granted to the Racecourse Betting Control Board a licence to use those buildings in consideration of a yearly payment. This payment was stated to be 12½ per cent of the cost of the construction of the buildings, but it was further provided that, whatever the cost of the construction might be, the annual payment should not be less than 12½ per cent of £23,000 or more than 12½ per cent of £27,000.