Betfred Ends Sponsorship Of All Five British Classics
Betfred has confirmed it will end its sponsorship of all five British Classics, blaming the tax rise announced in last week's Budget. The decision, reported on November 5, 2026 by The Independent, covers the 1000 and 2000 Guineas at Newmarket, the Derby and Oaks at Epsom and the St Leger at Doncaster.
A Betfred spokesperson said the betting site had taken the difficult decision not to proceed with a three-year renewal of the sponsorship.
The statement pointed to successive tax rises for the betting industry and, in particular, the increase in machine games duty (MGD) at the most recent Budget. It added that the cumulative cost of government policy had left the company with no choice.
A Warning That Became A Decision
The move follows a public warning from Betfred chairman and co-founder Fred Done, who had said before the Budget that the company would walk away from a verbal agreement to continue its Classics deals with the Jockey Club and Arena Racing Company (Arc) if the chancellor raised MGD. The Racing Post reported that Chancellor John Healey did raise it, from 20% to 25%.
That was below the 40% some in the industry had feared, as our report on how the Budget lifted machine games duty to 25% explains. Betfred's own modelling, according to the Racing Post, suggested 284 of its remaining 1,094 betting shops would become loss-making at the higher rate, putting 1,420 jobs at risk. Other outlets reported the company's warning as more than 1,000 jobs at risk in its shops alone.
Betfred took on the Derby, Oaks and St Leger sponsorships in 2023. It added the Newmarket Guineas in a deal running from 2025, making it the first brand to back all five Classics. The company had also offered a £2 million bonus for any horse that won the Triple Crown.
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How Racing Reacted
The Jockey Club said it was disappointed but understood the reasons. Amy Starkey, who runs Epsom as managing director of the Jockey Club's London hub, said the decision had not been an easy one for Betfred and described the bookmaker as a passionate supporter of racing.
She added that the Jockey Club hoped to work with Betfred again at some point and was already in conversations with several prospective partners for the Derby and the Guineas festival, with more details to follow.
According to the Racing Post, Arc said the decision was not a surprise given the Budget but that it also hoped to partner with Betfred again.
Betfred has already scaled back elsewhere. Our earlier story on Betfred ending its rugby league sponsorship also cited tax rises, and separate figures showed bookmaker sponsorship of British racing falling 17% in a year.
What It Means For Racing Fans
The Classics remain among the biggest dates in the British racing calendar, and the race names will be advertised under new partners only once the Jockey Club and Arc confirm them. Fans who follow the sport can find current markets and offers on our horse racing betting sites page.
Betfred's statement focused on the Classics renewal and did not address its other sponsorship commitments. Who steps in as title sponsor for each race has not been announced.
