bet365 Ends Horse Racing Sponsorships, Latest Bookmaker to Exit

bet365 has become the latest major bookmaker to withdraw from horse racing sponsorships, ending longstanding partnerships with prominent races at Haydock and Newmarket. The online gambling giant’s decision reflects a broader industry retreat on account of incoming increases to remote gambling duties. Specifically, bet365 horse racing sponsorships have been a fixture in the sport for years, making this withdrawal particularly significant for the racing community. What is more, this move follows similar exits by other leading operators, raising serious questions about the future funding model for British horse racing.

Bet365 Pulls Out of Horse Racing Sponsorships

The Stoke-based operator confirmed it will withdraw title sponsorship from the Craven Meeting at Newmarket Racecourse, a partnership established in 2017. bet365 will complete its current term but has declined to renew the agreement, effectively ending almost a decade of collaboration. In addition, the company’s presence at Newmarket’s July Festival will sunset following the 2026 season.

The withdrawal extends beyond Newmarket. At Haydock Park, bet365 has ended its backing of the Old Newton Cup and Lancashire Oaks, terminating a partnership that began in 2003. This 23-year association represents one of the longest continuous sponsorships in British racing.

A bet365 spokesperson characterized the decision as “very difficult” but necessary due to commercial pressures. The company stated: “While these have been long-standing and much-valued partnerships, last year’s Budget has unfortunately required bet365 to make some tough commercial choices”. The operator emphasized that racing “remains an important part of our business, and one which is hugely enjoyed by our customers”.

The Jockey Club expressed appreciation for bet365’s support, noting “some fantastic days together at the Craven fixture, Old Newton Cup and the July Festival”. The organization confirmed bet365 remains a valued partner across other racecourses.

Remote Gambling Tax Hikes Force Industry Retreat

Chancellor Rachel Reeves announced substantial duty changes in her autumn budget, targeting remote gambling operations with tax increases expected to raise £1.1 billion annually by 2029-30. Remote Gaming Duty will climb from 21% to 40% from April 2026, while General Betting Duty for online sports betting rises from 15% to 25% from April 2027. Online bets on UK horse racing remain at the existing de-facto 25% rate due to the 10% statutory Horserace Betting Levy.

The financial impact across major operators proved immediate and severe. Entain projects earnings hits of £100 million in 2026 and £150 million in 2027, while Evoke faces annualized duty costs between £125 million and £135 million once fully implemented. Flutter Entertainment estimates net negative impacts of £186.63 million in 2026 and £269.22 million in 2027 after mitigation measures.

Industry warnings extended beyond balance sheets. The Betting and Gaming Council commissioned analysis suggesting 40,000 jobs face risk. Betfred founder Fred Done stated bluntly that all 1,287 of the company’s UK shops could close, as a 5% gambling tax increase would push 430 shops into losses. Operators uniformly cautioned that steep tax burdens would drive customers toward unregulated black market operators offering no player protections.

What Does This Mean for Horse Racing’s Future?

British racing secured an exemption from the proposed unified remote gambling tax, which the British Horseracing Authority warned would have caused £330 million in revenue losses and eliminated 2,752 jobs in the first year alone. The governing body acknowledged racing as “an integral part of British society and culture, supporting 85,000 livelihoods and with an economic impact of £4bn”.

In light of this reprieve, the BHA recognized that “the increase in general taxation on the betting industry may have trickle-down effects on racing” through reduced sponsorship, worse customer odds, and diminished promotional spend. The bet365 horse racing sponsorship withdrawals exemplify this concern materializing faster than anticipated.

The sport faces a jarring paradox. Annual attendance surpassed 5 million for the first time since 2019, reaching 5,031,640 in 2025, a 4.8% increase driven by under-18 attendance surging 17%. In contrast, betting turnover fell 4.2% year-on-year through the first nine months of 2025 and sits nearly 13% below 2023 levels. Core racing fixtures experienced an 8.6% drop in average turnover per race.

Industry observers suggest the relationship between bookmakers and racing has grown strained, with some arguing racing demonstrated insufficient support for operators during regulatory debates. Alternative funding models remain uncertain, with sponsorship opportunities from non-betting sectors offering limited replacement capacity.