Bet365 pull out of longstanding sponsorships at Newmarket and Haydock, citing rises in gambling tax

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Bet365 have become the latest bookmaker to end long-running sponsorships in Britain due to gambling tax rises announced in last year’s budget.

The betting giant have axed their backing of the Old Newton Cup and Lancashire Oaks at Haydock after 23 years, as well as withdrawing from title sponsorship of the Craven meeting at Newmarket and races at the July meeting which had been part of their portfolio since 2017.

A bet365 spokesperson said: “Regretfully, bet365 has made the very difficult decision not to continue sponsorship of a number of horseracing events, including the Craven meeting at Newmarket, the July meeting at Newmarket and the Old Newton Cup-Lancashire Oaks at Haydock.