Betfred will not renew its sponsorship of the five British Flat-racing Classics, leaving organisers to find new commercial backing for races at Newmarket, Epsom and Doncaster. The bookmaker announced its decision on November 5, declining a three-year renewal and citing successive gambling-tax rises.

The sponsorship withdrawal affects the races’ backing, not whether the races will be held. The Independent reported the decision and Betfred’s stated reasons. It is a company decision, not a regulatory action.

Five races across three courses

  • The 1,000 Guineas at Newmarket
  • The 2,000 Guineas at Newmarket
  • The Oaks at Epsom
  • The Derby at Epsom
  • The St Leger at Doncaster

The five events are among British racing’s major fixtures. Betfred’s exit leaves organisers looking for a replacement partner, but does not remove the races from the calendar.

The tax increase starts in 2027

Betfred cited the cumulative cost of government policy and singled out a rise in Machine Games Duty. According to HM Revenue and Customs, the rate for qualifying gaming machines will increase from 20% to 25% on April 1, 2027.

The higher rate applies to machines with a maximum charge to play above £1 or a maximum prize above £100. It is not a blanket tax on all bets. The change will take effect months after Betfred announced its decision.

Betfred says tax rises contributed to its decision. The replacement sponsorship and the size of the resulting gap remain unclear.

Replacement sponsorship is not confirmed

The Jockey Club said it was in discussions with prospective partners for the Derby and Guineas Festival. The reports published after Betfred’s announcement did not name a replacement sponsor for the five Classics.

Organisers now need to secure new backing, potentially before the 2027 season. Until a partner is confirmed, the financial scale of the sponsorship gap is unknown.