LONDON – Bet365 will withdraw from multiple major U.K. horseracing sponsorships, a move the company says was driven by rising gambling taxes that have reshaped the economics of bookmaker marketing. The decision ends some of the operator’s longest‑standing racing partnerships and comes amid broader industry pushback against Britain’s new tax regime.
Bet365 confirmed it will not renew its title sponsorship of Newmarket’s Craven Meeting, concluding a relationship that spanned nearly a decade. The company will also end support for the July Festival at Newmarket after 2026. At Haydock Park, Bet365 will step away from the Old Newton Cup and the Lancashire Oaks — races it has backed for more than 20 years.
A spokesperson told The Racing Post the decision was “very difficult,” but said the company had little choice given the financial impact of the U.K.’s increased gambling taxes. The British government recently raised multiple betting‑related taxes despite warnings from operators and racing bodies that the changes could destabilize the sport’s funding model.
Although horseracing secured a limited exemption, the Betting & Gaming Council criticized the carve‑out as “cosmetic,” arguing that broader tax hikes still reduce the revenue base that racing depends on. Some industry observers questioned Bet365’s rationale, noting that racing‑specific taxes were not directly increased, but acknowledged that overall regulatory and compliance costs have risen sharply.
Bet365’s withdrawal follows Entain’s earlier decision to end its Coral Cup sponsorship at the Cheltenham Festival. BetMGM later stepped in as the new backer, renaming the race the BetMGM Cup. The shifts reflect a period of reassessment across the betting sector as operators trim marketing budgets and reevaluate high‑profile racing partnerships under tighter margins.
Industry analysts say the sponsorship pullbacks underscore a broader trend: while racecourse attendance has rebounded since the pandemic, turnover on horseracing bets has been declining, and operators face rising costs tied to affordability checks, compliance requirements, and customer acquisition.
Bet365 will fulfill its remaining contractual obligations but will not renew the departing deals, leaving several marquee races in search of new sponsors.
