Betfred Tote Pool under threat from potential rival set up

Established Tote facing a new rival

Betfred
Betfred

A group of UK racing stakeholders are reportedly getting ready to set up a rival pool-based betting system to the long established Tote, which is owned and operated by Betfred. Racing is looking for new streams of revenue, and this latest move, which is being led by the Jockey Club and Arena Racing Company (ARC), has allegedly gotten the support of 56 of the 60 UK racetracks who are set to commit to the Tote rival venture.

Betfred’s exclusive pools licence expires in 2018 and the rival venture will look to have its system up and running by then. Former Gala Coral Chairman Neil Goulden is leading the new racing pools project which has also drawn in plenty of high-powered racing stakeholders, according to reports. The people behind the new venture have detailed that it could double pool betting contributions to UK racing.

Back in 2011 the UK government sold off the Tote to Betfred for £265 million and UK racing received 50% of the sale. The sale though was highly criticized at the time by high profile racing stakeholders because they argued that it pretty much gave Betfred free reign to dominate trackside racing pools up and down the country.

Betfred founder Fred Done hasn’t always had the smoothest of relationships with UK racing as they were stripped of sponsor here for the Cheltenham Gold Cup a couple of years ago because they refused to commit to UK racing’s “authorised betting partner” scheme and he has been vocal in his opposition for racecourse owners funding strategy for the sport.

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