Betting and Gaming Council (BGC) members agreed to donate all profits made from win and each way bets, after levy and duties are deducted, at the flagship race at Royal Ascot on Thursday.

Bookmakers including Paddy Power Betfair, Bet365, Ladbrokes Coral, William Hill, Sky Bet, Betway, BetVictor, Virgin Bet, Grosvenor Sport, FitzDares and Jennings Bet participated in the fundraising initiative.

Second favourite Khaloosy’s 9/2 win at the heritage handicap meant bookmakers parted with a quarter of a million pounds, to charities Prostate Cancer UK, Marie Curie, The Care Workers Charity and the Berkshire Community Foundation Coronavirus Fund.

BGC CEO Michael Dugher said: "It was a great day for punters, though not such a good one for the bookies. However, it’s brilliant to see that despite bookmakers not making a profit in the race, they will still make a large donation to four fantastic charities, who undoubtedly deserve every penny."

Ascot Racecourse COO Alastair Warwick added: "This initiative was a tremendous gesture by the betting industry and reflects the ongoing contribution being made throughout the pandemic."

This follows the virtual Grand National in April raising £2.6m for NHS Charities Together, after BGC members donated all race profits.