bet365 has confirmed it will end a series of long-running horseracing sponsorships in Britain, attributing the withdrawal directly to the UK government’s upcoming increase in Remote Gaming Duty.
The operator will not renew its title sponsorship of the Craven meeting at Newmarket, a relationship in place since 2017, nor its backing of races at the Newmarket July fixture. At Haydock Park, bet365 will end its association with the Old Newton Cup and the Lancashire Oaks after 23 years.
Regretfully, bet365 has made the very difficult decision not to continue sponsorship of a number of horseracing events, including the Craven meeting at Newmarket, the July meeting at Newmarket and the Old Newton Cup/Lancashire Oaks at Haydock. While these have been long-standing and much-valued partnerships, last year’s Budget has unfortunately required bet365 to make some tough commercial choices. bet365 has been a long-standing supporter of racing and will continue to be so. It remains an important part of our business, and one which is hugely enjoyed by our customers.
Remote Gaming Duty Driving Commercial Recalculation
The UK Autumn Budget confirmed that Remote Gaming Duty will rise from 21% to 40%, effective 1 April 2026. The scale of the increase exceeded industry expectations and prompted immediate reassessments of marketing and sponsorship expenditure across the sector.
bet365 is the latest in a sequence of major operators to step back from racing commitments in direct response. Entain ended its 52-year association with the Coral Cup, while BetMGM withdrew its backing of the Fighting Fifth Hurdle at Newcastle after just two years. Evoke and Flutter Entertainment have both confirmed cuts to marketing budgets as they absorb the incoming duty changes.
The British Horseracing Authority acknowledged ahead of the Budget that any impact on operators’ bottom lines would likely feed through to racing’s income streams, noting the scale of the Remote Gaming Duty increase was higher than anticipated.
Racing Faces a Structural Gap
The withdrawals leave several historic races without principal sponsors heading into the 2026 season. British horseracing relies substantially on bookmaker sponsorship as a component of its funding model, and four major operators — bet365, Entain, BetMGM and Evoke — have now all reduced commercial commitments to the sport in a short window.
Flutter, which faces an estimated £540m annual impact from the UK tax changes, has confirmed marketing spend reductions across its portfolio, though specific racing commitments have not been detailed. Evoke warned that the budget tax environment would trigger job losses and drive customers toward unlicensed operators.
The BHA has stated its intention to work with operators and parliamentary allies to mitigate the impact of the duty changes. For racecourses losing established sponsorships, replacing that revenue in a market where operators are cutting costs simultaneously is a difficult proposition.
Outlook
bet365 indicated it intends to maintain some commercial relationship with British racing. The spokesperson’s statement framed the decision as a recalibration of priorities rather than a full exit from the sport. Whether additional sponsorship withdrawals follow from other operators will depend on how individual balance sheets absorb the April duty increase and what room remains in marketing budgets once the new tax rates take effect.
The BHA lost its chair, Lord Charles Allen, this week, adding leadership uncertainty to an already pressured environment for the sport’s governing infrastructure.
Source: Racing Post, SBC News
