'This is a very big moment for racing' - York chief warns next year's prize-money levels hinge on chancellor's budget

York ended a booming season with another big crowd on Saturday but chief executive William Derby said he is "holding his breath" for the chancellor's budget on November 26.

He warned that potentially damaging changes to betting taxation may mean the course cannot afford to make its customary upgrades to prize-money.

"Every year over the last 20, bar Covid, the York race committee has invested more in prize-money — we had a record £12 million this year, which was up £750,000 — and that would be our intention and instinct," he said.

"But we and the industry are collectively holding our breath for November 26. We worked out that 40 per cent of our revenue as a racecourse comes directly from betting-related income streams."

The sport has been campaigning vigorously against proposals to harmonise the 15 per cent duty on bets on racing with the 21 per cent that online gaming is subject to. Race meetings were postponed for a "strike" day last month, when a rally was held in Westminster to publicise the case.

John Gosden addresses the "Axe the Racing Tax" rally at the Queen Elizabeth II conference centre in London Credit: Edward Whitaker (racingpost.com/photos)

"The 'Axe the Tax' campaign was really important to us and to whether we can fund the £12 million," Derby said. "All the money we make goes on prize-money and facilities. There are no dividends, no shareholders and no debt. Everything we make goes back into the sport.

"This is a very big moment for racing. We've engaged very positively with our local MP Rachael Maskell, we've talked through the changes proposed by the Treasury, and she's written to them on our behalf."

Derby criticised politicians who have spoken of the need to seek increased funding from the gambling industry in order to fight child poverty.

"The way some people in government have linked child poverty, which is a concern for everyone, and gambling is unfair," he said. "We don't do that with any other tax and spend.

"It's not just about the 15 per cent on horseracing or even on sports betting. It's about the impact on the betting industry.

"If the overall profit of the likes of Coral – who have sponsored today's meeting since 1979 – William Hill or Sky Bet are impacted by a change in taxation, people will bet offshore.

"We are experiencing that. People we engage with are betting on the black market, via very glitzy websites that look official but aren't licensed in the UK. 

"The Treasury has a hard job to do but 15 per cent of a big figure is much better than 21 per cent of a smaller figure. It's important we get the message to them of the consequences of any potential change."

Crowds at York this season were up 12 per cent, with all bar three of the comparable meetings showing an increase on 2024.

"We're delighted," Derby said. "It's a real tribute to everything the team does here, the marketing, the promotions and the rest.

"We've been helped by the weather and part of the credit must also go to Great British Racing. Attendances are up at a number of courses."

Derby was also pleased with the quality of racing on the Knavesmire, pointing to the 17 individual Group 1 winners who raced at York in 2025, including three who scored on last Sunday's Prix de l'Arc de Triomphe card.

Prix de la Foret winner Maranoa Charlie had finished third in the newly upgraded City of York Stakes in August.

Maranoa Charlie (right) finishes third to Never So Brave in the City of York StakesCredit: John Grossick (racingpost.com/photos)

It took a long campaign for the seven-furlong race to earn promotion to Group 1 status, and Derby said: "We were really pleased with the field assembled on the day and how the form is working out. It was the culmination of so much work, effort, planning and investment, so we're thrilled."

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