# Betfred ditch Derby sponsorship and blame Healey Budget tax hikes

- URL: https://talkfuse.com/story/betfred-ditch-derby-sponsorship-and-blame-healey-budget-tax-hikes/
- Published: 2026-11-05T16:25:01+00:00
- Updated: 2026-11-05T21:57:32+00:00
- Original publisher: City AM (publisher lean: Right)
- Original article: https://www.cityam.com/betfred-ditch-derby-sponsorship-and-blame-healey-budget-tax-hikes/
- Topics: Business, UK, World

## Key points

- Betfred has pulled out of sponsoring the British Classics.
- The company blames successive betting tax rises.
- The Jockey Club is seeking prospective sponsors.

## Summary

Betfred has withdrawn from a planned three-year renewal sponsoring the British Classics, including the Derby and the Guineas Festival, blaming successive tax rises on betting firms. The decision highlights concerns over the impact of higher gambling taxes on the funding of major horse-racing events.

The company cited a 5% rise in machine games duty in Chancellor John Healey’s Budget, which adds to a previous 20% increase under Rachel Reeves. Betfred has also ended its sponsorship of rugby’s Super League, worth £1 million a year. The Jockey Club said it was disappointed but understood the decision and was speaking with prospective sponsors.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.