Tote Guarantee Launched at 55 Courses
British sports betting operator The Tote has announced a new agreement with Britbet to offer the Tote Guarantee at more racecourses than ever before. As part of the deal, the Tote Guarantee will be offered across Britbet’s 55 partner racecourses.
Around six million racing fans attend race meetings every year in the UK. ©Bence Szemerey/Pexels
Better Value for Bettors
The Tote Guarantee is designed to give racing fans peace of mind while placing their wagers, as it ensures that they will get the best price on win bets every time. An enhancement to the dividend, the Tote Guarantee promises that the Tote Win price will always match the industry Starting Price. If the price pool is bigger, it may exceed it.
Now even more racegoers will be able to make the most of the Tote Guarantee, as it is set to become available at Britbet’s 55 partner courses. The guarantee will initially be available on-course for a trial-period of three months, until the end of January 2022.
However, if the pilot receives a positive response from punters, there are hopes that the initiative could be extended on a long-term basis. Managing Director at Britbet, Nigel Roddis, was proud to announce the news that Tote Guarantee will be launched at racecourses around the UK. Roddis said:
“As racegoers increasingly return to racecourses we want them to enjoy the best possible experience. The added value that Tote Guarantee provides on every Win bet is a boost for racegoers and one that we hope they will embrace. By doing so, they will be directly contributing to the racecourse and the sport itself.”
Chief Executive of the UK Tote Group, Alex Frost, echoed those sentiments. Speaking to press on behalf of The Tote, he said that he was delighted to work with Britbet and its racecourse partners to offer the Tote Guarantee at a wide range of racing venues. He added that the move would provide punters with more confidence.
It is hoped that that will translate into great betting figures for The Tote and for its partners. Once the initial three months of the trial is up, its impact will be assessed. That information will then be used by The Tote as it continues to innovate its pool betting offerings and collaborate with racing partners.
Economic Recovery
By giving racing fans better value for their wagers, the initiative will help to support the recovery of British racing from the coronavirus pandemic. Since the end of January 2020, racecourses have struggled with the effects of COVID-19, which have ranged from postponed schedules, lockdowns and events without spectators present.
The 2020 Cheltenham Festival was one of the last sporting events with fans present to take place before restrictions were brought in to slow the spread of the virus. After nearly two years of disruption, racing is well on its way back to normality, although special safety measures will have to remain in place for some time to come.
The government entered stage four of its coronavirus roadmap in July, allowing racing fans to return to courses to watch events in person. That was the best news possible for the racing industry, which is highly reliant on revenues generated by racegoers. Nearly six million fans attend races every year, spending on entry, refreshments and wagers.
The Tote’s latest initiative will enhance the betting experience of racegoers as they help to support racing’s economic recovery. The Tote Guarantee rewards punters for their loyalty to the sport, while offering exciting opportunities to those who are new to betting. Chief Commercial Officer of The Jockey Club, Charlie Boss, spoke about what the initiative would mean for racing fans. According to Boss:
“It has been wonderful to welcome fans back to our racecourses, and we are always looking for ways to improve their experience while they are with us. Offering our racegoers the Tote Guarantee, which has been made possible through the partnership between britbet and UK Tote Group, will give them better value and a better on course betting experience.”
A Historic Bookmaker
Before its launch at Britbet courses, the Tote Guarantee was trialed amongst a small number of British tracks. The trials showed positive results, as participating venues reported increased turnover and positive feedback from customers. The outlook for the project is good, as the industry gears up for the Christmas festivals.
The Tote is respected as the UK’s leading pool betting operator, and has been at the heart of racing for nearly a hundred years. It was first established by parliament in 1928, by then Chancellor of the Exchequer, Winston Churchill. Known then as the Horserace Totalisator Board, it was created to offer a safe means of betting to the public whilst generating funding for the sport.
That vision is still integral to The Tote’s operations today, as it seeks to offer the public the best value and experiences possible. Its support for the industry is still just as vital, and it is backed by owners and breeders worldwide. The Tote is also part of exclusive partnerships with British racecourses, where it offers pool betting services to the masses.
Earlier this year, The Tote joined other betting operators in donating generously to charity. Together, BGC members raised more than £1.25 million, which was distributed amongst a number of worthwhile charities. The huge sum consisted of profits generated by the Britannia Stakes race at the Royal Ascot festival.
Britbet was established in 2018 as a partnership of 55 racecourses across Britain. It was founded with the mission of ensuring that profits from racecourse activities are returned directly to racecourses. It runs on-course pool betting operations, which bet into the UK Tote pool, for nearly every British racecourse. Exceptions include Ascot, Chelmsford, Chester and Bangor.
