BetMGM has been named as the new sponsor for the Cup Handicap Hurdle at the Cheltenham Festival just weeks after Coral ended their sponsorship of the race.
The BetMGM brand, which is operated by LeoVegas Group in the UK, adds to its existing race portfolio with the deal, which includes sponsorship of the Champion Chase at the festival.
The race will run as the BetMGM Cup Handicap Hurdle on Wednesday 11 March at Prestbury Park.
BetMGM serves as an official betting partner of The Jockey Club, and has title rights for several major races at Exeter, Wincanton and Newmarket
Coral had sponsored the Cup Handicap Hurdle since 1993 but announced at the end of January it would be ending the partnership with The Jockey Club.
The Entain-owned bookmaker cited the planned gambling tax hikes in the UK as the reason for pulling back on its marketing spend.
While horseracing escaped any tax hikes in the Autumn Budget, remote gaming duty will jump from 21% to 40% in April. Remote general betting duty will leap from 15% to 25% in April 2027.
Speaking to EGR following the decision, Entain group director of PR and sponsorship Simon Clare admitted it was a “very difficult decision” to drop the race.
Dan Towse, BetMGM brand director, said: “The BetMGM Cup Handicap Hurdle has been a staple of the Cheltenham Festival for well over 30 years and we are really excited to be associated with it ahead of this year’s race.
“Alongside Wednesday’s feature, the BetMGM Queen Mother Champion Chase, we now have two fantastic races on Ladies’ Day and thank The Jockey Club for their support.”
Daniel Glavin, The Jockey Club head of bookmaker partnerships, added: “BetMGM are a valued partner of The Jockey Club and we’re delighted they have expanded their portfolio on Ladies’ Day to add another race in their name to the card.
“The BetMGM Cup Handicap Hurdle further strengthens BetMGM’s presence at the Cheltenham Festival and we look forward to continuing to work closely with the team as we build towards this year’s event.”
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The post BetMGM replaces Coral as Cup Handicap Hurdle sponsor at the Cheltenham Festival first appeared on EGR Intel.
LeoVegas Group brand takes sponsorship rights less than two weeks before race day, replacing long-serving partner Coral in the process
The post BetMGM replaces Coral as Cup Handicap Hurdle sponsor at the Cheltenham Festival first appeared on EGR Intel.