The gaming companies will hand over all profits resulting from win and each-way bets, after levy and duties are deducted. UK gambling association the BGC has organised the Britannia Stakes charitable push with its membership since 2020, with a variety of different charities receiving funds each year.
The BGC said that this year the money will be divided between six charities: SportsAid, the Holocaust Educational Trust, Cystic Fibrosis Trust, SAS Regimental Association, Ascot Racecourse Supports and Together for Looked After Children.
The 2022 race raised £1.2m from the BGC’s members for good causes. If the bookmakers fail to make a profit from the event, the businesses have agreed to make a combined £250,000 donation to be split among the nominated charities.
Operators raise money at Britannia Stakes for worthy causes
The operators participating in this year’s event will include BGC members Flutter, Bet365, Entain, 888 William Hill, Kindred, Rank, LiveScore, Tote, Fitzdares and Bet with Ascot.
BGC chief executive Michael Dugher said: “Royal Ascot remains one of Britain’s most historic and world-renowned sporting spectacles of the year and I am delighted once more it is raising vital funds for a host of outstanding charities.
“Millions of people enjoy a bet during Royal Ascot and however the punters fare in the Britannia Stakes, some of the UK’s top charities are guaranteed to be big winners.”
“It is fantastic news that the leading bookmakers will once again be donating all profits from the Britannia Stakes to charity,” added Ascot Racecourse chief executive Alastair Warwick.
“The money raised since 2020 has been extremely well received, including by our own Ascot Racecourse Supports programme and the contributions have enabled us to support some extremely worthy causes and carry out important work in the community.”
BGC calls for cooperation on social media crackdown
Earlier in the month, the BGC called for social media companies to provide better cooperation with the trade body regarding the government’s marketing crackdown on the under-25s.
As part of the effort, Dugher wrote to the culture secretary Lucy Frazer MP and asked her to put more pressure on social media companies.