UK charitable organizations are poised to receive a substantial financial boost from Royal Ascot’s premier race, the Britannia Stakes, as bookmakers plan to contribute all their earnings to philanthropic endeavors.
This practice, initiated several years prior, sees the involvement of all major wagering companies in Britain. The significance of this year’s contribution is heightened as it aligns with the King’s coronation.
Michael Dugher, leading the Betting and Gaming Council, remarked: “Royal Ascot holds a prominent place as a historic and internationally acclaimed event in the British sporting realm, and I am pleased that it will once more generate crucial funds for numerous worthy initiatives.”
He further noted that this act served as a fitting homage to the late Queen Elizabeth II, a devoted horse racing aficionado who possessed and bred numerous triumphant racehorses.
In the preceding year, the wagering sector amassed a sum of £1.2 million ($1.5 million) for a diverse range of groups, and since its inception in 2019, the project has garnered over £5.5 million.
All proceeds generated from wagers placed during this year’s Royal Ascot, encompassing both direct winnings and place bet returns, will be allocated to charitable causes following tax deductions. Even in the unlikely scenario of overall losses for the bookmakers, a minimum contribution of £250,000 has been pledged.
Beneficiaries of this year’s charitable initiative include organizations such as the Holocaust Educational Trust, the Cystic Fibrosis Trust, the SAS Regimental Association (SASRA), Ascot Racecourse Supports, WellChild (a charity championed by Princess Catherine), and SportsAid.
Furthermore, a novel addition to this year’s festivities is a complimentary horse racing game developed collaboratively by Incentive Games and bet365, specifically tailored for Royal Ascot!
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