UK Tote extends Britbet Racing deal for on-course pool betting
The UK and Irish pool has increased by 50 per cent since the existing deal began.
UK.- The UK Tote Group has extended its long-term deal with Britbet Racing covering on-course pool betting at most racecourses in the association. The deal renews a £50m seven-year agreement that began in July of 2018. The new agreement will run from November 2025 until at least the end of October 2030.
The delivery of on-course betting will continue to be controlled by each venue, while Tote branding will be used for the offering and Tote will provide all off-course services.
Britbet Racing comprises 55 British racecourses. However, the UK Tote’s deal still excludes those that belong to the Arena Racing Company (ARC). UK Tote says negotiations regarding pool betting with ARC are continuing.
UK Tote Group chief executive Alex Frost said: “This is another significant moment in the evolution of the modern Tote as we work with our partners across British racing and around the world to rejuvenate pool betting in the UK and Ireland. It allows us to work together to develop the digital and racecourse customer experience to ensure we are offering racing fans a competitive and appealing experience when betting with the Tote.
“In addition, this partnership provides the stable platform British racing needs to work with international pool betting partners. This will allow the sport to benefit from the further evolution of World Pool and further opportunities to grow pool betting on British racing which is a key revenue driver in the years ahead.”
Britbet managing director Nigel Roddis said: “The delivery of a daily pool betting service ranges from 500-plus staff on each day of the Cheltenham Festival, through to meetings where everyone knows each other on a weekday winter evening,”
“To be viable it requires a collective approach, sharing resources and spreading costs as widely as possible. Britbet is tangible evidence of the benefits that the customer can receive from racecourses acting together.”
Tote has revamped its products since the start of the initial agreement in a bid to expand access to horseracing betting. It launched a new website and app and the Tote Guarantee, promising to match or beat the Industry Starting Price on win bets. It says it has returned more than £40m to Britbet during the last five years and has invested over £100m to futureproof pool betting.
Turnover from on-course betting at Britbet racecourses in 2024 reached £72m. The total UK and Irish pool has more than 100,000 online active customers and some Britbet courses have access to the World Pool.
See also: Fitzdares’ The Racing App to offer Tote exotic bets
Last July, The UK Tote Group reported that its total wagers for the full-year ending September 2023 were up by 9.6 per cent at £601m, driven by the UK. However, international pools performance pulled revenue down and costs doubled.
UK revenue rose 14.3 per cent to £22m. However, revenue from other markets declined by 14.1 per cent to £18.9m due to the lack of wagering into international pools in the US, South Africa and Hong Kong. In October, the group entered into an agreement with France’s Pari Mutuel Urbain (PMU) to add French horse racing to its UK and Ireland pool betting offers.
