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Britbet Racing, a partnership between 55 British racecourses has announced that its racecourse partners have extended their commitment to the delivery of oncourse pool betting services.
Britbet’s renewed partnership with UK Tote Group, which will provide liquidity to Tote pools on races taking place at racecourses including the Jockey Club and large independent tracks is a key component of this commitment by racecourses.
The Tote will provide the brand recognition and off-course services. Together, they create a pool that is hosted by Tote.
Britbet’s agreement with the Tote is expected to go live by November 2025, and remain in effect until at least October 30, 2030. This will depend on a number of performance metrics being met. The new partnership builds upon the existing agreement, which has been in effect since October 2018. In this period, pool betting has seen significant growth, innovation and development, including the launch of an app and dedicated Tote website, as well as more competitive pricing. The Tote Guarantee, which will be introduced in 2020, ensures that the Tote is always higher than or equal to the Industry Starting price on Win Bets.
Britbet began operating its pool betting service at the racetrack in July 2018. In 2024, the oncourse turnover will exceed PS72m. This is a 26% growth over 2018. This was achieved through continued investments in staff and technology to accept bets. Tote Guarantee offers value to customers. On-course innovations like Lucky Pick wallets or Multiples have also helped increase customer engagement.
The UK Tote Group has operated the UK/Irish Pool (the two pools will be combined in April 2020 via an agreement with Horse Racing Ireland) and 100,000 customers are now enjoying a better customer experience on tote.co.uk/ie. The UK Tote Group, through the existing agreement, has returned more than PS40 million to Britbet in the last five year while investing more than PS100 million into the business to support future growth of pool bets.
