UK Horse Racing’s New Deal With ITV Provides Lift Amid Financial Struggles & Looming Tax Hike

British horse racing agreed to a four-year renewal of its free-to-air TV deal with ITV, and it comes “at a significant time for the sport politically and financially.”

Racecourse Media Group (RMG), which holds the media rights for British horse racing, reached an agreement with ITV, with coverage extending to ITV1, ITV4, and STV channels, along with the STV Player on-demand platform.

“This is a vital deal for ITV Sport and UK horse racing, ensuring the very best fixtures across the UK are available free-to-air on ITV until 2030,” said ITV Director of Sport Niall Sloane.

Big Boost for Beleaguered Horse Racing Industry

The new television deal provides a glimmer of hope for British horse racing, which has been “facing financial struggles over the past few years, driven largely by declining attendances and, to an extent, dips in betting revenue.”

The Horse Betting Levy Board notes that attendance at race tracks fell below 5 million in 2022, marking the first such decline since the 1990s. It decreased YoY in 2023 (4.83 million) and 2024 (4.79 million). 

The new deal includes the sport’s four biggest races: Grand National, Cheltenham Festival, Royal Ascot, and Epsom Derby. ITVX, the streaming home for all ITV channels, generated millions of streams for those crown jewel events.

• Grand National (5.2 million)
• Ascot (5 million)
• Final day of the Cheltenham festival (1.8 million)
• Epsom Derby (1.3 million)

“It’s very good news that racing has agreed to an extension with ITV,” said Felicity Barnard, Ascot Racecourse Chief Executive. “Their commitment, editorial expertise, and production values are second to none, and they are a superb partner to work with. We look forward to another period of innovation in broadcasting over the coming years.”

Jim Mullen, The Jockey Club Chief Executive, echoed those sentiments: “We share their enthusiasm for telling the stories behind the stories, and for constantly exploring new and innovative ways to bring horse racing to life and into the homes of millions of people.

“Racing will benefit greatly from this extension and from the exposure that is guaranteed from 117 days of free-to-air coverage every year.”

Tax Hike Could Provide Another Hurdle in November

Earlier this week, UK Chancellor Rachel Reeves indicated that she will include a tax hike on gambling in her November budget.
The UK Treasury has proposed increasing taxes on horse racing from 15% to 21%.

The British Horseracing Authority (BHA) went on strike in protest on September 10 when all racing activities were cancelled. The BHA claims the sport could lose £330m over five years as a result of the new tax, which would also likely lead to job cuts across the industry.

Given the financial uncertainties facing the sport, the new TV deal becomes even more critical for horse racing’s future in the UK.