Bookmakers Back Charity for Fifth Year at Royal Ascot`s Britannia Stakes
British bookmakers are once again stepping up for charity, pledging to donate all profits from this year's Britannia Stakes at Royal Ascot to a selection of worthy organizations. This marks the fifth consecutive year for this fundraising initiative, solidifying the commitment of the Betting and Gaming Council (BGC) and its members to supporting important causes.
Profit Sharing and Guaranteed Donation
Profits generated from win and each-way bets placed on the iconic Britannia Stakes, a renowned handicap race scheduled for June 20th, will be distributed among a new roster of charities. These beneficiaries include Prostate Cancer UK, Ascot Racecourse Supports, Missing People, Heros, GoRacingGreen, and the Churchill Lines Foundation.
Participating BGC members encompass leading names in the betting industry. They've pledged to donate all profits from the race, after deductions for levies and duties.
Furthermore, to ensure a minimum contribution, the BGC members have agreed to make a combined donation of £200,000 if profits from the race fall short. This dedicated approach guarantees support for the chosen charities regardless of the betting outcome.
A History of Giving Back
Since its inception, the Britannia Stakes Charity Bet initiative has raised nearly £3 million for a multitude of worthy causes. This year's contribution builds upon the over £6 million already raised by BGC members since 2019. Beneficiaries have included prominent organizations in the health, sports, and veterans sectors, such as Prostate Cancer UK, Sue Ryder, NHS Charities Together, the Royal Navy & Royal Marines Charity, ABF the Soldier's Charity, and the RAF Benevolent Fund.
Michael Dugher, CEO and Acting Chair of BGC, highlighted the ongoing commitment: "I am absolutely delighted that BGC members are once more raising vital funds at the Royal Meeting for some of the country's top charities." He further emphasized the success of the initiative and expressed appreciation for the collaboration with Royal Ascot.
Representatives from the beneficiary charities also voiced their appreciation. Laura Kerby, Chief Executive of Prostate Cancer UK, applauded the initiative's contribution to raising awareness and funding crucial research.
Alastair Warwick, Chief Executive at Ascot Racecourse, expressed gratitude for the ongoing support for Ascot Racecourse Supports, a program aimed at benefitting the local community.
Industry's Economic and Social Contributions
The article concludes by highlighting the broader economic and social contributions of the betting industry. It emphasizes the significant number of jobs supported (110,000 across the regulated sector and 42,000 in betting shops alone), tax revenue generated (£4.2 billion annually), and contributions to local authorities through business rates (£60 million). Additionally, the ongoing support for horseracing through sponsorships, media rights, and the betting levy (estimated at £350 million a year) is acknowledged. Overall, the article paints a picture of an industry not only dedicated to charitable giving but also a substantial contributor to the national economy and the well-being of the horse racing industry.
