Recent changes to the UK’s gaming tax laws, which nearly doubled the remote gaming duty and increased sports betting duty, have significantly impacted gambling operators like Entain. These tax hikes have forced companies to reassess their financial commitments, leading Entain to end its decades-long sponsorship of The Coral Cup at the Cheltenham Festival, a partnership dating back to 1974. Although horse racing betting was exempt from the tax increases, the broader betting ecosystem’s strain has made such sponsorships financially unsustainable.
Entain’s director of consumer PR, Simon Clare, expressed regret over withdrawing from the sponsorship but cited the heavy tax burden as the primary reason. Despite this, Entain remains committed to horse racing, as evidenced by the launch of a new BetBuilder tool to enhance betting experiences. The Cheltenham Festival’s CEO, Guy Lavender, acknowledged Coral’s historic support and emphasized the desire to maintain a strong future partnership with Entain.
