Online gaming operator Betway has become the 12th operator to sign up as an authorized betting partner (ABP) of British Racing.

The three-year deal will see Betway make a voluntary contribution to racing based on its profit on the sport from UK customers. It also allows the operator to negotiate commercial arrangements with participating UK racecourses, including sponsorship opportunities.

Betway joins the likes of Betfair, bet365, 32Red and BetStars as one of 12 current partners of British Racing.

“They are one of the fastest growing betting companies within the British market and already sponsor a number of major races,” commented Nick Rust, CEO of the British Horseracing Authority (BHA). “We are grateful to them for joining the growing number of leading remote operators who recognise the importance and mutual benefit that a partnership approach between racing and betting can bring to the sport.

Rust said that while the UK government has committed to replacing the Levy mechanism which finances UK horseracing by April 2017, these authorised betting partner contributions remain vital to delivering interim funding to the sport.

“Their contribution to British racing between now and the implementation of the Levy replacement will be an invaluable one at what is a critical time for the sport, and all the more appreciated as it is made in a completely voluntary environment where offshore operators are not required by law to pay statutory Levy,” Rust added.

“British racing will work with Betway to recognise their contribution to the sport by ensuring they receive all of the benefits available to our authorised betting partners.”

Betway is already heavily involved in British horse racing, sponsoring a number of events including the Betway Queen Mother Champion Chase at the Cheltenham Festival, the Betway Chester Cup, the Betway Yorkshire Cup, and the Betway Great Voltigeur Stakes.

“Betway have been a passionate supporter of British racing since 2014 and we have been engaged in positive discussions with the BHA for the past few months,” said Anthony Werkman, marketing director of Betway.

“Sprinter Sacre’s win in this year’s Betway Champion Chase was one of those magical moments which makes racing such a wonderful sport. We have some exciting opportunities we are exploring throughout the racing calendar and look forward to announcing our sponsorship portfolio for 2017 and beyond shortly.”