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It was an unpalatable spectacle but the crowing of bookmakers, after they cleaned up on the biggest betting race of the year, does have a silver lining for racing. A portion of their £200million profit should go into prize-money, via the Levy, and rather more of it may be used in the race sponsorship market that would look ever more deserted but for the betting industry.

Ironically, the Grand National itself remains aloof with an iconic sponsor in John Smith's. But precious few other big races this year will have such detached backers, as racecourses increasingly abandon their fine principles and grab whichever bookmaker is willing to put up money.

Already, Ascot has withdrawn its historical reluctance by acquiring Betfair as umbrella sponsor of its King George meeting. Yesterday, Kempton was rightly delighted to announce a four-year deal - remarkable in the present climate - for the King George VI Chase. The new sponsor is William Hill.

Now, Diary understands that Epsom, having previously stated that bookmakers were not being considered for Derby sponsorship, is heading down that same route. Two leading firms are understood to have been in talks over backing the classic this year. A shame, of course, that banks and airlines and mobile phone makers are not jostling for the gig. But these are desperate times.

(Source: Timesonline.co.uk)