Cheltenham Festival’s Longest Running Race Sponsor Pulls Out over ‘Tax Changes’ - The Mirror

Cheltenham Festival’s longest running race sponsor pulls out over ‘tax changes’ - The Mirror

Coral bookmakers have sponsored at the meeting since 1974 but has taken the decision to pull its backing of the Coral Cup from this year

Coral ditches Cheltenham Festival after 52 years as tax hikes bite

The bookmaker blamed the "significant increase in betting taxation" announced in Chancellor Rachel Reeves' Budget

Coral ditches Cheltenham Festival as Reeves tax rises on gambling bite

Betting giant Coral has ditched the Cheltenham Festival after over 50 years due to government taxes on gambling. Duty on UK horse racing wagers was exempted from Chancellor Rachel Reeves’ Budget last autumn but taxes on remote sports betting will be hiked from 15 per cent to 25 per cent in 2027. Coral’s parent firm Entain said on Wednesday that they would be ending their “long-standing” sponsorship, dating back 52 years, of the Coral Cup at the …