The British Horseracing Authority has announced a three-year deal with online betting group Betfair that makes the firm the first official Authorized Betting Partner of racing in the U.K.
Betfair, along with 32Red and Bet365, was accepted as betting partner by the authority in October, because the three online firms were already contributing to racing from the profits made by their businesses. The deal with Betfair will formalize a financial arrangement for three years from April, under which the company will pay the sport an agreed percentage of the profit it makes from betting on British racing.
BHA’s Authorized Betting Partner program offers incentives for supporting betting companies, along with punitive measures for those who do not in a carrot-and-stick approach. The main “stick” used is the blocking of sponsorship attempts with BHA courses by “uncooperative” betting firms. Most race courses have supported the scheme, with notable exceptions like Ascot and Newbury.
The BHA statement announcing Betfair’s appointment notes that the betting firm may now use a kitemark and promotional benefits as part of a marketing campaign to be rolled out across the sport. They will also have the opportunity to negotiate preferential commercial arrangements with participating race courses, including access to sponsorship opportunities, Wi-Fi provision and wider promotion.
The Authority claims that negotiations with other unnamed betting companies are at an advanced stage.
