Betfred has decided not to renew its sponsorship agreements covering all five of Britain’s major flat-racing Classics, bringing an end to a high-profile partnership across the 2000 Guineas, 1000 Guineas, Derby, Oaks and St Leger. The operator cited successive increases in gambling-related taxes, particularly the rise in Machine Games Duty announced in the latest UK Budget.
The decision affects races staged at Newmarket, Epsom and Doncaster. Betfred’s sponsorship portfolio grew over several years: it began backing the two Epsom Classics in 2023, added the St Leger Festival and later secured the Guineas agreements, becoming the first brand to sponsor all five races.
In a statement, Betfred said the cumulative impact of tax changes had made a three-year renewal unviable. The company specifically pointed to the increase in Machine Games Duty, while the wider industry is also preparing for the higher Remote Gaming Duty rate that came into effect in April 2026 and a new 25% rate for remote betting scheduled for April 2027.
The withdrawal leaves the race organisers searching for replacement commercial partners. The Jockey Club said it was disappointed but was already in discussions with prospective sponsors, while Arena Racing Company indicated that the decision had not come as a surprise following the Budget.
The move follows other reductions in Betfred’s UK commitments. The decision highlights how tax policy can extend beyond operator balance sheets and affect the wider sports ecosystem, including racecourse revenues and the commercial value of long-standing betting partnerships.