The Derby at Epsom is one of the most historic horse races in Britain. The race organizer, Jockey Club Racecourses (JCR), has revealed that the Derby will have its first-ever gambling sponsor, signing a three-year agreement with sportsbook and online gaming operator Betfred. This deal also covers the Epsom Oaks, the feature event on the opening day of the two-day festival which starts June 2.

Cazoo announced in August that it was bringing its two-year arrangement to a close

JCR has been looking for a new sponsor since used car sales platform Cazoo announced in August that it was bringing its two-year arrangement to a close. After failing to secure an agreement with a blue-chip company, it appears that JCR had to look at alternative options.

JCR managing director welcomed Betfred on board, noting the company’s long-running commitment to British horse racing. Speaking about the relevancy of this new sponsor, she said: “Betting has been integral to the Derby since its inception in 1780, when even the name of the race was decided on a coin toss.”