UK horseracing faces a changing sponsorship landscape amid falling attendances and rising costs.
Horseracing looks set to enter a new era of sponsorship after bet365 announced it is ending several agreements.
Earlier this week, the bookmaker confirmed it would discontinue sponsorship of the Craven and July meetings at Newmarket, as well as the Old Newton Cup/Lancashire Oaks at Haydock.
A bet365 spokesperson described the decision as “regretful,” pointing to the longevity of some of these partnerships. The company has sponsored the Old Newton Cup/Lancashire Oaks since 2003, and both Newmarket events since 2017.
“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,” the spokesperson tells Insider Sport.
A worrying trend for UK horseracing
The exit of bet365 follows similar strategies by other major operators. Entain ended its 52-year sponsorship of the Coral Cup, while BetMGM pulled out of the Fighting Fifth Hurdle in Newcastle.
All three races impacted by bet365’s withdrawal are events televised on ITV, and Entain’s Coral Cup pull similarly affected a high-profile fixture. However, smaller meetings, such as all-weather track and evening events, appear largely unaffected.
The common explanation from operators points to cuts in marketing budgets following UK gambling tax increases.
“While these have been long-standing and much-valued partnerships, last year’s Budget has unfortunately required bet365 to make some tough commercial choices,” says bet365.
The Autumn Budget included an increase in Remote Gaming Duty from 21% to 40%, effective next month. Although this tax affects online casinos directly, operators are beginning to reduce sponsorship commitments across the sport to offset rising costs.
A result of falling attendances?
Horseracing has historically relied heavily on gambling sponsorship, and while these exits create challenges, the sport remains resilient.
A spokesperson for The Jockey Club tells Insider Sport: “We are grateful to bet365 for their support across our racecourses and we have seen some fantastic days together at the Craven fixture, Old Newton Cup and the July Festival.
“Bet365 remain a valued partner of the Jockey Club, and we look forward to continuing to work closely with their team to promote and deliver a number of other racedays.”
Nevertheless, the sport faces wider challenges. Attendance at major fixtures remains below pre-pandemic levels, with the 2025 Cheltenham Festival recording its lowest Wednesday turnout since 1993, at just 41,949 spectators – a drop of nearly 5,000 from the previous year.
There have been some creative partnerships emerging in a bid to combat these concerns. For example, boxing promoter Frank Warren’s Queensberry Promotions teamed up with The Jockey Club to help revitalise the Betfred Derby Festival.
