BetVictor takes Gold with Cheltenham Open sponsorship deal
ABP bookie replaces Paddy Power as Gold Cup sponsor while firm also snaps up one of Ladbrokes' vacated on course spots
BetVictor has wasted little time in making use of its recently gained Authorised Betting Partner (ABP) status after replacing Paddy Power as sponsor of the feature race at Cheltenham’s The Open meeting.
The operator has signed a three-year deal with Cheltenham Racecourse, which will see November’s two-and-a-half mile handicap chase renamed the BetVictor Gold Cup until at least 2018.
As well as sponsoring the Gold Cup, BetVictor has taken over with immediate effect the running of the betting shop in the Sovereign Bar area of the main grandstand at Cheltenham, which until recently had been run by Ladbrokes.
BetVictor said the shop will be refitted in time for next week’s Cheltenham Festival, where the firm will also sponsor the BetVictor Blimp, which will provide aerial shots during the four-day meeting for broadcaster Channel 4.
BetVictor chief executive Andreas Meinrad said news of today’s commercial deals reflected the operator’s “ongoing commitment to British Racing”.
“As an ABP, we are delighted that these opportunities have become available and are very positive that punters will see the benefits of supporting bookmakers who back British Racing,” Meinrad said.
“We look forward to a long and successful partnership with Cheltenham and are expecting to announce other collaborations in the near future that will confirm our commitment to British Racing,” he added.
Both Paddy Power and Ladbrokes, among others, have so far declined the opportunity to become an ABP member, a scheme set up by British Racing to ensure the sport receives funding from offshore remote bookmakers.
However, the scheme could be replaced as early as next year after the government last week revealed it planned to extend the longstanding Levy system to include offshore firms as well as those based in the UK.