The Derby at Epsom, Britain’s most historic Classic, will be sponsored by a gambling company for the first time after Jockey Club Racecourses agreed a three-year deal with Betfred, which operates 1,400 betting shops in addition to an online betting and gaming business.
The contract also includes the Oaks, the feature event on the opening afternoon of the two-day Derby Festival, which begins on June 2. JCR had been looking for a sponsor for the Epsom Classic since Cazoo, a used-car sales website, which last August ended its association with the Derby and Oaks after two years.
According to The Guardian, in the past, JCR seemed keen to secure non-gambling sponsors for the Derby and Grand National, its showpiece Saturday events, to reflect their high public profile, but it appears to have conceded defeat in its latest search for a blue chip name to replace Cazoo.
Betfred is proud to announce sponsorship of the Epsom Derby and the Epsom Oaks for at least 3 years.@thejockeyclub | #EpsomDerby #EpsomOaks #HorseRacing #Sponsorship pic.twitter.com/FZ7YrLpMUi
— Betfred (@Betfred) April 11, 2023
This year’s Derby will be the 244th running of a race that has spawned many similar contests around the world since it was first staged in 1780. With a prize fund of GBP 1.5 million, it will be the UK’s most valuable race.
Amy Starkey, JCR¿s managing director commented: “As bookmaker with a long and established history in horse racing and numerous other sports, I’ve worked with Fred Done and Betfred for more than 20 years and know how deeply committed they are to British racing.”
“Betting has been integral to the Derby since its inception in 1780, when even the name of the race was decided on a coin toss. With 1,400 shops across the UK, I’m excited that Betfred will be able to help us promote these prestigious races on high streets up and down the country.”
Done launched his firm with a single betting shop in Salford in 1967 and his retail estate, based mainly in the north and Midlands, did not reach 100 shops until 1997.
It rose to 200 shops within another three years and continued a rapid expansion to more than 1,000 outlets after the 2005 Gambling Act legalized GBP 100-a-spin gaming machines – known as FOBTs – in high-street premises.
Like many other familiar names in bookmaking, Betfred has attracted criticism from some online bettors for restricting stakes on racing and sports bets to as little as a penny while also allowing – or actively encouraging – restricted punters to gamble on fixed-margin gaming products instead.
It has also been fined several times by the Gambling Commission for breaches of social responsibility and money-laundering rules, including a GBP 2.87 million penalty in September 2022 when a customer “was allowed to lose GBP 70,000 over a 10-hour period just a day after opening an account”.
Betfred has recently extended its partnership with Playtech, building on a longstanding relationship between the two businesses, which dates back more than 12 years.
According to a press release, this continued partnership will ensure that the increased customer demand for sports betting on terminals will be met by the installation of even more Playtech Self-Service Betting Terminals (SSBTs) in Betfred shops, which have seen terminal numbers grow by over 50% in the last 2 years.
Horse and Dog racing will be available to Betfred customers on terminals for the first time, and ‘recent exciting new products and features demonstrate why Playtech Sports betting is such a compelling offering for our partners.’
Original article: https://www.yogonet.com/international/news/2023/04/13/66804-the-derby-at-epsom-chooses-betfred-as-its-sponsor-first-gambling-company-ever-to-do-so
