Betway joins British racing's ABP ranks

Betway has signed a three-year deal with British horse racing to become an Authorised Betting Partner (ABP).

The partnership will see the bookmaker make a voluntary contribution of 7.5% of racing profits in exchange for a number of promotional benefits and commercial arrangements with British racecourses.

Betway currently sponsors a number of major races including the Betway Queen Mother Champion Chase at the Cheltenham Festival.

That deal is set to expire after the 2017 renewal, with Betway unable to continue the sponsorship without ABP status.

“Betway have been a passionate supporter of British racing since 2014 and we have been engaged in positive discussions with the BHA for the past few months,” Betway marketing director Anthony Werkman said.

“We are thrilled that we are able to continue our support in the future by becoming an Authorised Betting Partner.

“We have some exciting opportunities we are exploring throughout the racing calendar and look forward to announcing our sponsorship portfolio for 2017 and beyond, shortly,” Werkman added.

The deal comes just days after reports surfaced that a new racing levy of 10% is set to be imposed on retail and online operators from April 2017, which would spell the end of the ABP scheme.

Nick Rust, chief executive of the BHA, added: “We are grateful to Betway for joining the growing number of leading remote operators who recognise the importance and mutual benefit that a partnership approach between racing and betting can bring to the sport.

“Their contribution to British racing between now and the implementation of the Levy replacement will be an invaluable one at what is a critical time for the sport, and all the more appreciated as it is made in a completely voluntary environment where offshore operators are not required by law to pay statutory Levy.

Betway is the 12^th remote betting operator to become an ABP, joining the likes of bet365, BetVictor, Sky Bet and Betfair.