Betfred ends sponsorship of British Classics

Betfred will not renew its sponsorship of the five British Classics, ending support for the Derby, Oaks, St Leger and Newmarket’s 1,000 and 2,000 Guineas. The bookmaker attributed the decision to successive gambling tax increases, particularly the latest increase in machine games duty.

The company said it would not proceed with a proposed three-year renewal. Chairman and co-founder Fred Done had warned before the Budget that a further duty increase could force the company to withdraw. The confirmed decision follows the tax warning that formed part of its earlier response to rising retail costs.

Betfred linked the withdrawal to the cumulative cost of government policy rather than a dispute over the individual races. The decision affects sponsorship agreements with the Jockey Club and Arena Racing Company. The statements reviewed did not disclose the financial value of the sponsorship agreements.

Racecourses seek replacement partners

Amy Starkey, managing director of the Jockey Club’s London hub, said the organization was disappointed but understood Betfred’s reasons. She confirmed discussions with prospective partners for the Derby and Guineas events. Her comments did not identify a replacement sponsor or establish that a new agreement had been signed.

Arena Racing Company’s commercial strategy and partnerships director, David Leyden Dunbar, separately thanked Betfred for its involvement with the St Leger festival and Doncaster. He described regulatory pressure as affecting commercial partnerships and expressed hope that the bookmaker’s relationship with British racing could continue in another form.

Betfred began sponsoring the Derby, Oaks and St Leger in 2023, with the Newmarket Classics joining its portfolio from 2025. The current announcement concerns the renewal of those race sponsorships. It does not announce the cancellation of the races or establish a complete withdrawal by Betfred from British horse racing.