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The Cheltenham Festival has lost its longest running sponsor after Coral announced it was ending its backing of the Coral Cup. The bookmaker has supported the meeting since 1974, initially backing the Coral Golden Hurdle until the creation in 1993 of the Coral Cup.

One of the biggest betting races of the week, it has been won twice by the Dan Skelton-trained Langer Dan who became the only hurdler to capture the race twice in 2023 and 2024. Coral, with Ladbrokes is part of the Entain Group, is a major sponsor of British horseracing whose signature event is the Coral-Eclipse Stakes which the bookmaker has backed since 1976.

In the November budget chancellor Rachel Reeves announced a rise in remote gaming duty from 21 per cent to 40 per cent from April 1 while excluding horse racing from an increase in remote betting duty on sports, due to rise to 25 per cent from 15 per cent in 2027.

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Simon Clare, Entain UK consumer PR director, announced: “It is with some sadness that we are today announcing that Coral will not be continuing with its sponsorship of The Coral Cup.

“Coral has been the longest-running sponsor at the Cheltenham Festival since 1974, but the sheer size of the Government’s recent tax increase on betting operators means we are having to take very difficult decisions as we look to mitigate some of the huge impact, none more difficult or regrettable then bringing our sponsorship at Cheltenham to an end.

“The Jockey Club are strong, long-standing partners of Entain, and although we are stepping away from this sponsorship, we will continue to work passionately and collaboratively with their racecourse teams on the big sponsorships we have with them under our Ladbrokes and Coral brands.

“Horse racing remains very important to Entain, and Coral and Ladbrokes have some of the biggest and most enduring sponsorships in the calendar, including the Ladbrokes King George, which had one of its best ever renewals a few weeks ago, and the Coral-Eclipse where last year we celebrated 50 years of sponsorship.

"The Cheltenham Festival is also a massive four days for our business and our customers, and we will be promoting and celebrating it as much as ever in our shops and online and across our marketing channels.

“However, the significant change in the taxation landscape for betting operators means we need to drive even more value out of the events we sponsor, and review with even greater scrutiny where we invest our marketing spend, which has resulted in the end of the Coral Cup sponsorship.

“And whilst the tax we pay on UK horse racing will not increase compared to other betting and gaming products, UK horse racing is, and will continue to be, the most expensive product we offer, given the huge cost of media rights on top of the statutory levy."

Clare continued: “It is therefore essential for the long-term health of the sport that Racing works even harder with betting operators to grow its appeal to consumers, whilst ensuring that it does not get any more expensive in a world where our tax burden has increased so sharply, and our ability to invest will be increasingly restricted."

Cheltenham chief executive Guy Lavender said: “Coral has been a valued and hugely supportive partner of the Cheltenham Festival and has sponsored the Coral Cup since its inception in 1993. During that time, we have seen some fantastic renewals of the race, from Olympian in the very first running through to Jimmy Du Seuil in 2025.

“The Jockey Club has a strong relationship with Entain Group as an Official Betting Partner and will continue to work closely with its brands, Ladbrokes and Coral, who also sponsor key racedays such as the Coral-Eclipse, Coral Lanzarote, Ladbrokes Trophy Day and Ladbrokes Christmas Festival.

“We look forward to announcing an update on the sponsorship of the race in due course.”