It seems that the dominance of The Tote in pool betting services offered in the UK is soon to be brought to an end. The majority of racecourses in the country have joined forces to create a service that would serve as a successor to The Tote, formerly known as the Horserace Totalisator Board, which seven-year license is set to end on July 12th.
The pool betting service that is expected to replace The Tote’s services on most UK racecourses is called Britbet and will officially start in the middle of July, when 54 of UK racecourses are to launch their pools under the newly-formed brand.
Despite the fact that the exclusive pool betting operating license of The Tote is to soon come to an end, British bookmakers will still be able to offer the Betfred-owned brand’s pool betting option. This, along with the fact that the Ascot Racecourse is working in collaboration with The Tote to develop its own in-house service, has made some market experts and analysts sceptical about the future of Britbet in the UK gambling sector.
Britbet Creators Hope for Bright Future
It was always hard for pool betting services to gain ground in the gambling sector of the UK, mostly because of the fact that large number of players prefer fixed-price bets offered by local bookmakers. Pool betting options became even less popular at the time when betting exchanges emerged in the British gambling market about a decade and a half ago.
Now, the hegemony of the once UK Government-owned Tote is to be ended by the decision of the racecourse operators to create some competition to the dominant brand in the industry. The seven-year monopoly on British pool betting is to expire in mid July with the expiry of The Tote’s exclusive license. On the other hand, the addition of the Britbet brand is to change the landscape forever.
Reportedly, at least 49 of the existing 51 on-course betting shops of Betfred are set to close, with the gambling operator also revealing its decision to end major race sponsorships that have been inherited from the Tote. Only the Ascot and the Chester Racecourses are to be excluded from the project, as they are to take part in an in-house betting project that would allow them to take control of worthy revenue stream.
David Williams, who is the Britbet’s Director of Communication, revealed that the brand is working on a number of awesome ideas, which are to be brought to life ahead of the planned launch in July. Mr. Williams further shared that the British racecourse operators which have joined forces to form Britbet would like to see the brand become as iconic as The Tote has been for the British racing industry.
The focal point of the new pool betting service will be Britbet’s launch across UK racecourses in July. As the Director of Communications revealed, the brand’s presence is also to be made stronger by providing customers with the opportunity to access the pools through remote betting platforms.