North West-based gambling firm Betfred was announced as the sponsor of this year's iteration of one of Britain's most historic and prestigious events, The Derby.
This will be the gambling company's first time hosting the event since it signed a three-year deal with Jockey Club Racecourses (JCR).
The Derby is set to kick off on June 2 in Epsom and will be on for two days. The Oaks, a feature event on the first afternoon of the English Derby Carnival, is also part of the agreement.
Used car sales platform, Cazoo was the previous sponsor of the event; however, it ended its two-year relationship with the Derby and Oaks last August. In an attempt to cut costs, the embattled company also ended its association with EPL club Everton FC.
This pushed JCR to search for a sponsor; however, according to the reports, the club initially intended to sign with a non-gambling entity for its major Saturday events, the Derby and Grand National. The search for the non-gaming sponsor proved futile, leading to JCR's collaboration with Betfred.
The gambling firm adds to the growing list of sponsorships for high-profile events across major events like football, rugby, darts, and others.
The managing director of JCR, Amy Starkey, revealed that the club had a decades-old relationship with Betfred and was certain of how committed the company was to British racing.
“As a bookmaker with a long and established history in horse racing and numerous other sports, I've worked with Fred [Done, the firm's founder] and Betfred for more than 20 years and know how deeply committed they are to British racing,” Starkey said.
“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.”
The decision to partner with Betfred is not one supported by most, as a protest group named Animal Rising has promised to stage an on-track protest to disturb the Grand National slated for Saturday .
Ben Newman, Animal Rising's spokesman said on Tuesday, “Protest is a fairly common thing in a democracy and there's nothing new about it. We'll be using our bodies, and that's all there is to it.”
According to information released on Sunday, the protest group was hatching a plot to have around 100 people run to the race course and glue their bodies to the track ahead of the anticipated race on April 15.
In response to the report, Merseyside police released a statement assuring attendees that plans were in place to stop all forms of disruptions.
In addition to operating around 1,400 betting outlets across the country, Betfred also has a digital betting and gambling service. Fred Done launched the gambling firm in 1967 with just one getting shop, and by 1997 expanded to 100 shops.
Betfred grew past 200 outlets within three years and by 2005 rapidly expanded to over 1,000 shops. The speedy expansion can be attributed to the legalization of £100-a-spin gaming machines, popularly referred to as FOBTs, via the 2005 Gambling Act in high street areas.
The Derby is the most valuable event in UK racing, and this year's iteration will boast a prize pool of £1.5 million. It was first launched in 1780, making the upcoming event its 244th edition, inspiring several similar competitions worldwide.