Betfred ditch Derby sponsorship and blame Healey Budget tax hikes

Betfred has withdrawn its sponsorship of the Derby and all five British Classics. The gambling firm stated it has no choice but to end its backing of these major United Kingdom racing meets, including the Oaks and St Leger. This decision follows tax hikes introduced by Chancellor John Healey in last month's Budget. The bookmaker explicitly blames these fiscal changes for the termination of the deal, which previously covered several of the most prestigious events in racing.