The company is the first to use its status as an ‘authorised betting partner’ to reach an agreement to expand its sponsorship portfolio with Jockey Club Racecourses, owner of Sandown.
Following the announcement of the initiative last month, JCR announced they would only enter into new commercial arrangements with authorised betting partners, those deemed to make a fair contribution to British Racing through appropriate funding agreements with the sport.
Betfair and JCR have agreed an initial two-year partnership deal to secure naming, branding and marketing rights around the two-mile £150,000 Betfair Tingle Creek Chase and three-mile-five-furlong £40,000 Betfair London National, which will both be staged on December 5.
Simon Bazalgette, Group CEO of The Jockey Club, said: “Betfair is a major supporter of British racing and The Jockey Club is delighted to expand our relationship together on account of their status as a founding authorised betting partner of our sport.
“This is further endorsement of that initiative so soon after its introduction.
“Through its long-term commercial arrangements with British racing, Betfair has recognised the importance of the sport receiving fair returns and the resulting benefits this, as well as opportunities such as race sponsorship, provides to their business.”
Mark Brooker, COO of Betfair, added: “As a long-standing commercial partner of racing we are proud and excited to announce our sponsorship of the Tingle Creek, a race that is synonymous with excellence.
“The Tingle Creek’s place in the calendar complements our existing marquee races such as the Betfair Chase and Betfair Super Saturday, so it is a welcome addition to our National Hunt sponsorship portfolio.
“Racing is part of our company DNA and we have always sought to work with our racing partners in a structured and mutually beneficial manner, this sponsorship has come as a result of working together in that spirit.”