UK Horse Racing Industry To Create Rival to Tote
The UK horse racing industry in planning on launching a new pooled betting business to rival the Tote.
Institutions such as The Jockey Club, Racehorse Media Group and a number of individual racecourses have set up a group to examine the plans. The group also plans to hold talks with the rest of the UK’s 60 racecourses and betting shops such as William Hill and Ladbrokes which offer Tote betting products in their shops.
The Tote was sold to Betfred in 2011 and gave them an exclusive license to offer pooled betting in the UK until 2018. While this is still a couple of years away racecourses are keen to explore the options available to them when the exclusive licence expires. They hope that a racing-owned Tote would return more money to the sport and bring new life to the product.