Betfred quits all 5 British Classics after UK tax hike
Betfred also blamed the same tax rise for shop closures this summer, before pulling its racing backing.
The hit
Betfred will not renew its three-year sponsorship of all five British Classics, according to GamblingNews. The 1,000 Guineas, 2,000 Guineas, Derby, Oaks & St Leger will now need new commercial partners after the UK government raised machine-game duty by 5% to 25%.
Why it matters
The exit ends a project founder Fred Done had pursued for years. It signals that rising gambling taxes are now hitting racing’s funding model directly, not just betting shops & jobs, leaving The Jockey Club to find replacement backers for some of the sport’s most prestigious events.
The record
| Machine-game duty increase | Up 5% to 25% at the latest Budget (GamblingNews) |
|---|---|
| Betfred shops closed | 132 closed this summer, Betfred says, citing the same tax issue |
| Classics brought under one sponsor | All 5 British Classics unified under Betfred’s name in 2025 |
| Sponsorship value | Not publicly disclosed; believed to run into millions of pounds (GamblingNews) |
What happens next
The Jockey Club says it is already in talks with potential replacement sponsors; watch for a new backer to be named before the next Classics season.
Sources: “No Choice”: Betfred Ends Sponsorship of All 5 British Classics After Tax Hike
18+. Betting involves risk. If gambling is a problem for you or someone close to you, help is available.
Work with BH Group. Paid ads that get iGaming & crypto brands players & users, in the GEOs you choose. Get a plan
Discussion
Ask a question, add useful context or share a source. Keep it relevant & respectful.
Add a comment
Comments are reviewed before publication.