BetVictor has become the latest gaming company to receive status as an Authorised Betting Partner of British racing after agreeing to a three-year deal to make voluntary contributions to the sport from its profits from UK customers.
The British Horseracing Authority and the Horsemen's Group announced the ABP policy in October. Its aim is to recognise offshore betting partners that agree on a rate of contribution to British racing from their profits from the sport. Benefits to the ABPs include use of a kitemark and promotional benefits and opportunities to negotiate preferential commercial arrangements with participating racecourses. The other companies with ABP status are Betfair, Bet365 and 32Red. Firms that don't enter into ABP agreements will not be allowed to sign new sponsorship deals with racecourses.
“We are proud to announce that we are an Authorised Betting Partner of British horse racing,” said BetVictor Chief Executive Officer Andreas Meinrad. “BetVictor has a rich heritage in the sport, and we want to play our part in ensuring the long term growth, sustainability and success of British horse racing.”
“We feel we would be doing our customers a disservice by not getting behind this initiative and believe it will resonate with customers of other companies who choose not to sign up,” Meinrad added. “These are exciting times for both British horse racing and BetVictor and we are looking forward to a close, long and successful partnership.”
Nick Rust, chief executive of the British Horseracing Authority, added, “We are delighted that BetVictor has chosen to become an Authorised Betting Partner and that they recognise the benefits of a three-year deal with British racing. We look forward to working with them to grow their racing business, and to seeing their name on British racecourses.”
BetVictor is owned by Michael Tabor, who acquired sole ownership in 2014, and is based in Gibraltar.
The announcement comes a day after Ladbrokes, which is not an ABP, lost its sponsorship of the World Hurdle at Cheltenham to Ryanair.
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