A group of leading UK bookmakers have agreed to donate all profits from the Britannia Stakes horse racing event later this month to a series of charities.
horFlutter Entertainment (Paddy Power, Betfair and Sky Bet), bet365, Entain (Ladbrokes and Coral), William Hill, Kindred (Unibet), BetVictor, Betway, Rank Group (Grosvenor Sport), the Tote and Fitzdares have signed up to the initiative.
Profits from win and each-way bets, after levy and duties are deducted, will go to charity, while if bookmakers do not make a profit on the race, they will make a donation to the charities themselves.
Proceeds will be split between Prostate Cancer UK, Marie Curie, Care Radio and the three Armed Forces charities – the Royal Navy & Royal Marines Charity, Army Benevolent Fund and the RAF Benevolent Fund.
The initiative follows a similar fundraising drive for the race last year, when £250,000 (€290,951/$355,654) was handed over to charities.
This year’s Britannia Stakes will take place at Ascot Racecourse on 17 June.
“I am absolutely delighted that the Betting and Gaming Council’s (BGC) largest members are once again leading this fantastic initiative, which will raise vital funds for some of the country’s top charities,” BGC chief executive Michael Dugher said.
“Millions of people enjoy a flutter and I’m proud that betting companies will donate their profits from one of Royal Ascot’s top races to go towards some brilliant causes that will help so many people from across the country.”
Ascot Racecourse managing director Alastair Warwick added: “We are thrilled that the betting industry will once again be donating profits from the Britannia Stakes to these very worthy charities.
“Run on Gold Cup day, the Britannia Stakes is always one of the biggest betting heats of the week and extremely popular with punters, so hopefully lots of money will be raised at a time when it is much needed in light of the impact Covid-19 has had on charity fundraising efforts.”