Coral is one of the sportsbook operators that’s synonymous with the Cheltenham Festival every March. The brand’s parent company, Entain, announced on Wednesday that the increase in UK gambling taxes means it will be exiting its sponsorship arrangement, which has been active since 1974. Coral has been the festival’s longest-standing sponsor and was the title sponsor of the Coral Cup race since 1993.
reassess the commercial viability of certain sponsorships”
Entain Sponsorship Director Simon Clare said that the company arrived at the decision with “a heavy heart.” He mentioned that the tax increases add to the other high costs in the industry, such as the statutory levy and media rights. It is Coral’s most expensive product. The statement says that Coral must “reassess the commercial viability of certain sponsorships” as it evaluates the efficiency of its marketing spend.
UK Chancellor Rachel Reeves confirmed in her November budget announcement that remote sports betting taxes will rise to 25% from 15% in 2027. There will not be an increased charge on horse racing wagers. The tax rate for online casino games is also doubling from 21% to 40% on April 1, 2026.
The Coral Cup usually takes place on the festival’s second day. Cheltenham will now need to find another sponsor before the action kicks off on March 10, 2026.
