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Will Coral’s Cheltenham exit spark a sponsorship exodus?

Steve Tyler Exec Content

Will Coral’s Cheltenham exit spark a sponsorship exodus?

Summary

UK bookmaker Coral, owned by Entain, has ended its more than 50-year sponsorship link with the Cheltenham Festival, including the title sponsorship of the Coral Cup. The move follows the UK government’s decision to raise remote gaming duty sharply (from 21% to 40% from April 2026) and other betting duty changes, which operators say will force deep cuts to marketing and sponsorship spend.

Entain called the decision “regrettable” and said it must review marketing investments to drive more value amid the tax hikes. Coral will still run promotions during Cheltenham via its retail and online channels, but stepping away from the title sponsorship signals broader financial pressure on the sector.

Smaller operators such as BetGoodwin have already announced cuts to horse-racing sponsorship, and major groups including Flutter and Evoke have flagged marketing reductions. Entain projects a c. £200m hit before mitigations and expects to reduce part of that by cutting marketing and promotions. Industry voices warn the impact could cascade across many sports and lower-profile events that rely on gambling revenue.

Key Points

  • Entain has ended Coral’s title sponsorship of the Coral Cup at Cheltenham after a 50+ year association.
  • The move is directly linked to planned UK tax changes that almost double remote gaming duty (21% to 40%) from April 2026.
  • Entain forecasts a c. £200m negative impact and plans marketing cuts to mitigate losses.
  • Smaller operators (e.g. BetGoodwin) and other major groups (Flutter, Evoke) are already cutting sponsorship or marketing spend.
  • Horse racing and many lower-profile sports face heightened financial risk if gambling firms continue to withdraw sponsorship.

Why should I read this

Because this isn’t just one sponsor walking away — it’s a canary in the coal mine. If tax changes force big names to slash sponsorship, lots of sports and events that rely on gambling money could be staring at sudden shortfalls. Read this to know who might lose funding next and what it means for the commercial sports calendar.

Source

Source: https://igamingexpert.com/news/affiliates/coral-cheltenham-exit-sponsorship-exodus/