Meetings at Cheltenham Racecourse, inclusive of the company's flagship four-day Festival, remain a highly attractive marketing medium for leading sports betting firms – something demonstrated by BetBright's recent refreshment of its sponsorship affiliation at the Prestbury Park venue.
All bookmakers and horse racing betting firms associated with the Festival and meetings at the course will be hoping for winning television exposure, as ITV moves to establish itself as the official home of terrestrial televised horse racing coverage! Read on to find out more about BetBright and their newest partnership deal!
The recent confirmation of BetBright's extension of its sponsorship deal with Cheltenham Racecourse for a further three years maintains an association that goes back to the Cheltenham Festival's BetBright Cup in 2015. The online bookmaker has also been the annual sponsor of the G2 BetBright Cotswold Chase.
The Cotswold Chase remains a standout trial for the Cheltenham Gold Cup that’s now sponsored by Timico. The action-packed Festival is a great source of revenue in the horse race betting industry, placing race sponsorship high on the agenda for the large gambling companies.
In addition to boosting market visibility and potential income for BetBright, the sponsorship of racing by bookmakers is important to support betting revenue across the horse racing industry. Considering horse racing is one of the most popular betting markets available today, support of the market is important for the betting industry as a whole.
With the bookmaking industry linked to the success of racecourses and horse racing in general, supporting it via sponsorship deals presents a key investment. News of the latest BetBright deal has been greeted favourably by both sides, with BetBright's marketing communications manager Conor White explaining:
"We are thrilled to renew our sponsorship with Cheltenham Racecourse for a further three years,” he said. “As racing fans, it has always been important to us to support and promote jump racing."
White was particularly keen to emphasise the firm's pleasure at maintaining a presence during the biggest week of the National Hunt season – the Cheltenham Festival itself:
"We're also looking forward to the fourth instalment of the BetBright Cup next year and are hoping that the British contingent can launch a more serious challenge in 2018."
The retention of the BetBright Cup is a winning punt for the firm, according to the Jockey Club's regional head of partnerships for the course, Carey Buckler. She commented on the race now being part of the Anglo-Irish Festival folklore:
"It is excellent news that BetBright will continue to sponsor at Cheltenham for another three years. The BetBright Cup at The Festival has been a real success story, having cemented the age-old Anglo-Irish rivalry at The Festival into a competition in its own right."
While there are no figures available to pinpoint the exact impact of a bookmaker such as BetBright sponsoring a big televised race at the Cheltenham Festival, experts are in little doubt that it leads to more people visiting a brand's website and placing bets via laptop, tablet or mobile.
This year’s move of terrestrial racing coverage from C4 to ITV was hoped to inject new life into the sport's viewing figures, making sponsorship more attractive for bookies such as BetBright. Fundamentally, some of ITV's figures look positive.
The average viewing figure of 795,000 on day one of the 2017 Cheltenham Festival was up by 121,000 from C4's coverage in 2016, while the Gold Cup itself gained in excess of 200,000 more viewers than the year before the switch.
However, given the huge expectations on the 'new home of racing', betting industry analysts have not been overly impressed, since the move was meant to revolutionise horse racing coverage.
Nevertheless, the news of BetBright's three-year contract extension clearly demonstrates that bookies are backing the course and ITV to grow their success over the coming National Hunt season.
William Hill reported a £10 million sponsorship of ITV racing shows just how crucial terrestrial coverage of the sport is to the bookmaking industry. The bookie industry needs racing as much as racing needs bookmaking.
As such, online bookmakers simply can't afford to risk racecourses going bankrupt or losing the scope to hold prime horse racing betting events such as the Cheltenham Festival. The net result is long-term deals such as BetBright's refreshed three-year sponsorship of the BetBright Cup and G2 BetBright Cotswold Chase.
And despite questions over viewing figures for horse racing on terrestrial TV, the Cheltenham Festival remains unequivocally one of the most attractive sponsorship opportunities in the sports gambling industry. Visit BetBright's online bookmaker today to get exclsuive odds on the latest horse racing markets!