Online casino and sportsbook operator BetVictor has struck a deal to become the new title sponsor of the Gold Cup, the feature race at UK horse racing event the Open, which takes place at Cheltenham Racecourse.
The agreement will run for three years, from 2016 to 2018.
Under the deal, the race will be known as the BetVictor Gold Cup. BetVictor will also take over the running of the betting shop in the Sovereign Bar area of the main grandstand at Cheltenham, which will be open in time for the racecourse’s showpiece Festival next week.
The 2016 Gold Cup will take place on November 21, the middle day of the Open.
Rival Paddy Power had been title sponsor of the event since 2003, but as it is not an ‘authorised betting partner’ of the British Horseracing Authority (BHA), it has been forced to give up the rights.
Last month, BetVictor signed up as an authorised betting partner of the BHA, an agreement that enables the firm to sponsor UK racing events. As part of the deal, BetVictor makes a voluntary contribution to the sport, with this amount based on profit the company makes from horse racing in the UK.