Flutter Entertainment’s UK and Ireland brands took 34 million online bets across the 2026 Cheltenham Festival, with 2.7 million active customers betting across Paddy Power, Betfair and Sky Bet during the four-day event.
Flutter’s Cheltenham Numbers
The group did not break down volumes by brand or by day, but the aggregate figures position the festival as one of the biggest single events on the regulated UK calendar. Flutter’s disclosure follows a full-year 2025 report showing 15.9 million average monthly players across the group, up 14% year-on-year, and UK and Ireland remaining a core revenue driver despite the looming Remote Gaming Duty increase.
William Hill, part of Evoke, separately described the festival as “historically profitable,” with the second racing day on Wednesday 11 March identified as the brand’s best ever day at Cheltenham. William Hill projected turnover above £10 million on Gold Cup day alone.
BGC Flags £60m Black Market Leak
The Betting and Gaming Council used the festival as a platform to highlight the scale of illegal betting activity in Great Britain. The trade body estimated that up to £60 million was staked with unlicensed operators during Cheltenham, based on data placing the black market at approximately 6% of total wagers in Great Britain. With total festival stakes running to around £1 billion, the BGC calculated roughly £2 million per race going to illegal platforms.
“Cheltenham is the biggest week of the year for racing fans and millions placed bets safely with regulated operators. But the criminal harmful black market also tried to cash in, targeting punters with illegal betting that offers none of the protections provided in the regulated sector. Rising taxes and increasingly intrusive checks will only make it harder for legitimate operators to compete. The priority must be keeping punters in the regulated market where protections are in place, rather than driving them towards harmful unregulated operators.”
— Grainne Hurst, CEO, Betting and Gaming Council
Tax Context and the April RGD Increase
The 2026 Cheltenham Festival was the last under the current Remote Gaming Duty rate. From April, the RGD rises from 21% to 40% — a change confirmed in last year’s Autumn Budget that has drawn consistent warnings from operators about its effect on competitive dynamics between regulated and unlicensed platforms. Remote sports betting duty is set to follow, rising from 15% to 25% in 2027. Horse racing was carved out from the RGD increase, but operators argue that the broader fiscal pressure still flows through to the sport via reduced margins and lower levy contributions.
The BGC’s Cheltenham estimate is consistent with the UKGC’s November 2025 report on the illegal online gambling market, which identified unlicensed operators as increasingly active in targeting UK consumers through social media and affiliate networks. Flutter had previously estimated a £540m annual impact from the duty changes across its UK operations. The April RGD increase will be the first live test of whether the black market share grows in response to the new cost structure.
Source: InterGame Online
