Participating bookmakers will hand over all profit made from win and each-way bets, after levy and duties are deducted. Bookmakers that do not make a profit on the race will make a combined donation of £250,000 to be split among this year’s nominated charities.
Flutter Entertainemnt (Paddy Power, Betfair, Sky Bet), Bet365, Entain (Ladbrokes and Coral), 888 William Hill, Kindred (Unibet), Betway, Rank Group (Grosvenor Sport), Virgin Bet, Tote, LivescoreBet, Fitzdares and Bet with Ascot all committed to the initiative.
Funds raised will be split between SportsAid, the Holocaust Educational Trust, Cystic Fibrosis Trust, SAS Regimental Association, Ascot Racecourse Supports and Together for Looked After Children.
The initiative, which launched in 2020, raised £1.2m (€1.4m/$1.5m) for charity last year.
The handicap race will take place on 22 June as part of Royal Ascot, one of main events on the British horseracing calendar that takes places each year at Ascot Racecourse.
“I am once again delighted that the BGC’s largest members are helping celebrate the King’s Coronation by raising vital funds at the Royal Meeting for some of the country’s top charities,” BGC chief executive Michael Dugher said.
“It is also a fitting tribute to the Late Queen Elizabeth II whose passion for horse racing was renowned, having bred multiple successful horses and clocking up 1,800 winners in her time.
“Tens of millions of people up and down the country enjoy a flutter each month and I’m proud that betting companies will once more donate their profits from one of Royal Ascot’s top races, the Britannia Stakes, to go towards some great charities.”
Ascot Racecourse chief executive Alastair Warwick added: “It is fantastic news that the leading bookmakers will once again be donating all profits from the Britannia Stakes to charity.
“The money raised since 2020 has been extremely well received, including by our own Ascot Racecourse Supports programme. The contributions have enabled us to support some extremely worthy causes and carry out important work in the community.”