BetVictor join Authorized Betting Partner scheme; Ladbrokes exit Cheltenham

Online betting operator BetVictor has become the fourth online-only bookmaker to sign on with UK racing’s Authorized Betting Partner (ABP) scheme.

On Friday, BetVictor announced that it had inked a three-year deal to ante up a portion of its online revenue derived from UK racing events to UK racing bodies, joining 32Red, Bet365 and Betfair as the only other online bookies that have so far earned the ABP designation.

Terms of the BetVictor deal weren’t disclosed, but the British Horseracing Authority (BHA) and the major racecourses supporting the ABP scheme have stated that operators would need to pay 7.5% of their online racing revenue.

BetVictor CEO Andreas Meinrad justified the deal by saying his company felt “we would be doing our customers a disservice by not getting behind this initiative.” BHA CEO Nick Rust expressed delight that BetVictor “recognize the benefits” of ABP membership and said the BHA looked forward to seeing BetVictor’s name prominently displayed at UK tracks.