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Bookmaker pulls sponsorship of all five British Classics over tax increase

British bookmaker Betfred has announced it will withdraw its sponsorship of all five British Classics, blaming the UK Government’s decision to increase machine games duty for the dramatic move. The bookmaker has decided against renewing its sponsorship agreements for another…

Just Horse Racing

Published: Friday, 6 November 2026 at 10:09 PM

Key Things to Know

Betfred is withdrawing its sponsorship of all five British Classics following a UK tax increase on machine games.
The bookmaker decided against renewing a three-year deal after duty increased from 20 percent to 25 percent.
Betfred models indicate the tax rise renders 284 shops unprofitable and puts around 1,420 jobs at risk.

The Story in 60 Seconds

British bookmaker Betfred has announced it will not renew its sponsorship of all five British Classic horse races, citing the UK Government's decision to increase machine games duty from 20 percent to 25 percent. The move ends Betfred's historic position as the first company to back all five Classics, having previously secured naming rights for the Derby, Oaks, St Leger, and the 2000 and 1000 Guineas.

Betfred stated that the tax hike would make 284 betting shops unprofitable and endanger approximately 1,420 jobs. The decision forces British racing administrators, including the Jockey Club and Arena Racing Company, to seek new commercial sponsors for their premier events.

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Bookmaker pulls sponsorship of all five British Classics over tax increase

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