The Go Racing deal depends on broadcasting pre-race information such as runners, jockeys and weights, which is owned by the BHB.
However, at a meeting yesterday, the two parties failed to reach a satisfactory agreement for the licence, leaving Go Racing's deal in limbo.
Go Racing is reported to have stipulated that it wants a 10-year licence for the pre-race data as part of its media rights contract, valued at £307m, which covers 49 of the UK's 59 racetracks.
The consortium also wants a licence that will allow it to develop future technologies and it asked for a ceiling of 1.5% on turnover for the information, according to the BHB.
The BHB said it was unwilling to grant a 10-year licence to anyone and was unwilling to give a licence for "undeveloped technologies for which Go Racing had paid nothing and which no projections have been included in Go Racing's business plan".
Go Racing CEO Christopher Stoddart said, "The BHB has refused to supply a firm price [to Go Racing]. It has merely said that it will not ask more for data than the total value of the deal, which we have negotiated with the racecourses for all the rights.
"This is plainly ludicrous, as it sets the potential price far too high and creates maximum uncertainty for Go Racing. It would be sad if yet another deal foundered on the rocks of a divided industry."