‘Historic’ £40m funding deal hands boost to racing

The betting exchange firm will pay 10.75 per cent of all revenues from racing into the Levy – the pool of funding from bookmakers that helps to finance horse racing.

This is in exchange for commitments from the sport concerning a minimum number of fixtures per year and optimising the amount of betting opportunities.

It comes as racing seeks a new partnership with betting exchange firms that are not bound by the rules of the Levy unlike traditional high street bookmakers.

Paul Bittar, chief executive of the British Horseracing Authority, said: “We are delighted that we have been able to reach an agreement with Betfair, one which represents a landmark for both the racing and betting industries.

“We hope that similar arrangements with other betting operators will follow.”

Martin Cruddace, chief legal and regulatory officer at Betfair, said: “This deal is a genuinely historic moment.

“For the first time, British Racing and Betfair have proved it is possible for us to work together on a truly commercial basis.”

The lack of certainty over racing’s future funding has been regularly cited for the decline of prize money, a crucial obstacle which has to be overcome if the sport moves forward.

It is illustrated by the increased participation of British-trained horses in Ireland and France.

n Aidan O’Brien’s Derby hero Camelot heads the entries for the Neptune Investment Management Great Voltigeur Stakes, one of the highlights of York’s Ebor festival.

The entries reveal 43 horses still hoping to become the 14th winner of the Voltigeur to go on and land Classic honours in the Ladbrokes St Leger at Doncaster.

It is no surprise that the top five in the betting for Doncaster – Camelot, Imperial Monarch, Main Sequence, Michelangelo and Thomas Chippendale – are entered at York. In-form trainer John Gosden was responsible for Lucarno, the last colt to do the double in 2007.

He has also won the last two renewals of the St Leger so the performances of his Derby fourth Thought Worthy, and Newmarket winner Michelangelo, will be noted with interest.

However, there is no guarantee that the Triple Crown-seeking Camelot will appear at York – O’Brien indicated, after his horse galloped through the mud to win last Saturday’s Irish Derby, that the colt’s ambitious autumn campaign will begin at Doncaster.

The Gimcrack Stakes, meanwhile – a prestigious six furlong race previously won by the iconic Mill Reef and Rock of Gibraltar – has attracted 63 entries, including 15 from seven different Yorkshire yards.

The standout entries include Kevin Ryan’s Royal Ascot winner Hototo and Pay Freeze who has already won at York for footballer-cum-trainer Mick Channon. Golfer Lee Westwood’s Hoofalong and football manager Harry Redknapp’s Moviesta could also feature.

n Last year’s winner Nathaniel is one of 17 remaining entries in the King George VI And Queen Elizabeth Stakes at Ascot on July 21.

John Gosden’s four-year-old, ridden to victory a year ago by William Buick, is due to make his seasonal reappearance in the Eclipse at Sandown this weekend, if the ground permits. The trainer could also run last year’s St Leger winner Masked Marvel.

A surprise absentee is Cirrus Des Aigles, currently embroiled in a doping scandal in France, but also on the sidelines with an injury.