Britain’s Betting and Gaming Council (BGC) announced that charities will be the biggest winners at the Britannia Stakes race at Royal Ascot. According to the council, its members will donate all profits from tomorrow’s race to a selection of notable charity organizations.

In celebration of the King’s coronation, the biggest bookmakers in the UK will donate their proceeds to organizations such as SportAid, the Holocaust Educational Trust, Cystic Fibrosis Trust, SAS Regimental Association (SASRA), Ascot Racecourse Supports and Together for Looked After Children.

Many major operators, including Flutter, bet365, Entain, 888 William Hill, Kindred, Betway, Rank Group, Virgin Bet, LivescoreBet, Tote, Fitzdares and Bet with Ascot have committed to the initiative. Under the terms, companies will hand over profits from win and each-way bets, after levy and duties are deducted.

In the unlikely case operators fail to make a profit on the race, they agreed to collectively donate $318,000 (converted to USD) to the aforementioned charities.

The Charities Praised the Initiative

BGC’s chief executive officer, Michael Dugher, commented on the initiative, praising Royal Ascot as one of the best horseracing events in Britain. He said that he is delighted that BGC’s largest members will honor the King’s Coronation by donating their profits to “outstanding charities.”

It is also a fitting tribute to the Late Queen Elizabeth II, whose passion for horse racing was known throughout the world, having bred so many successful horses and clocking up 1,800 winners in her time.

Michael Dugher, CEO, BGC

Ascot Racecourse’s CEO, Alastair Warwick, praised the bookmakers for the initiative, saying that it has been extremely well received since its first iteration in 2020.

Representatives of the recipient charities also commented on the matter, lauding the BGC members for their commitment to helping those in need. Their full statements can be read on the BGC’s official website.

British Betting Continues to Flourish

This is not the first time operators have agreed to donate their proceeds from the annual race to charity either. Last year, BGC members raised a staggering $1.5 million for good causes. The current event will mark the fourth time BGC members will share their profits with charities. The BGC, which was founded in 2019, has so far donated over $7 million to a variety of good causes.

Britain’s betting industry is flourishing, contributing millions in tax to the Treasury each year. The country’s retail shops support 42,000 jobs on the British high streets, while the overall regulated gambling industry supports 110,000 jobs.

British gambling and sports betting donate $5.35 billion in taxes and contribute $9 billion to the economy each year. These figures come from an average of 22.5 million monthly bettors.

In other news, the BGC recently agreed to work with social media platforms to make gaming safer.

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Some of the UK’s top charities will benefit this year from a donation that will be made by members of the Betting and Gaming Council (BGC). The council confirmed Thursday that leading bookmakers in the country vowed to donate all profits from the upcoming handicap Britannia Stakes Race at this year’s Royal Ascot.

Members of BGC that will contribute to the noble cause include bet365, Entain (Ladbrokes, Coral), 888 William Hill, Betway, Kindred (Unibet), Flutter (Paddy Power, Betfair, Sky Bet), Rank Group (Grosvenor Sport), Tote, Fitzdares and Bet as well as Virgin Bet and LivescoreBet.

All of those leading companies agreed to back the fundraising initiative and donate their profits. Britannia Stakes is a landmark race that will take place on June 22, 2023, at Royal Ascot. The profits of the bookmakers from the race will bring valuable funds for different charities such as SAS Regimental Association (SASRA), Together for Looked After Children, Ascot Racecourse Supports, Cystic Fibrosis Trust and the Holocaust Educational Trust.

Since 2019, when the BGC was created, it has helped raise more than £5.5 million ($6.8 million) for good causes, helping different charities. When it comes to the iconic big-field heritage handicap, BGC members helped raise some £1.2 million ($1.5 million) last year. It is unclear whether or not the donations from this year’s race will surpass the one from 2022. Yet, the BGC said that even if bookmakers don’t make a profit this year, they will make a combined donation of £250,000 ($309,300) which will benefit nominated charities.

Donations Continue to Help Charities

Alastair Warwick, Ascot Racecourse’s chief executive, explained that it is great to see leading bookmakers in the country once again contribute with donations to charities from the Britannia Stakes. Finally, Warwick noted: “The money raised since 2020 has been extremely well received, including by our own Ascot Racecourse Supports program and the contributions have enabled us to support some extremely worthy causes and carry out important work in the community.”

“I am once again delighted that the BGC’s largest members are helping celebrate the King’s Coronation by raising vital funds at the Royal Meeting for some of the country’s top charities.“

Michael Dugher, chief executive of the BGC

Michael Dugher, BGC’s chief executive, was similarly excited and said that it is great to see the raising of funds for charities in celebration of the coronation of the King. He acknowledged that those funds bring valuable support to charities in the UK. Finally, Dugher thanked everyone for their support and dedication to helping charities.

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