The Tote has launched an innovative scheme which aims to benefit British-based trainers though returns on betting profit generated by owners.
The Racing Revenue Share Scheme awards 20% of the revenue share from the Tote's takeout for any bet placed by owners who have nominated a specific trainer. The scheme is based on turnover with no cap on the potential amount earned by the trainer, who must be signed up to the scheme.
Alex Frost, CEO of UK Tote Group, said, “We're delighted to have launched the Racing Revenue Share Scheme so that racehorse owners' betting activity can support their trainers and yards. This scheme is central to allowing the Tote to play our part in increasing how much pool betting can return to British racing. The scheme is unique to the Tote and highlights the benefits of the pool betting model where we can welcome winning customers, while their betting activity can benefit the sport we all love.”
In 2019, a consortium of investors with links to racing and led by Frost, an owner/breeder and owner of Ladyswood Stud in Gloucestershire, completed its acquisition of the Tote from Betfred. The UK Tote Group, initially known as Alizeti, promised to contribute at least £50 million to British racing over seven years in addition to paying the levy.
Speaking at the time of the deal being completed, Frost said, “Pool betting plays a leading role in racing jurisdictions around the world and we believe the Tote can play a similar role in the UK, while supporting and growing British racing in the years ahead.
“International collaboration is right at the top of our agenda. Growing the British pool grows the potential contributions we can make to British racing.”
The Tote teamed up with the Hong Kong Jockey Club that same year to host World Pool days from British race meetings, starting initially with Royal Ascot. Last year, the World Pool fixtures increased to 17 race days across Britain and Ireland, with the UK pool increasing by more than 40% and generating millions of pounds in extra income for the racecourses involved, which included Epsom, Sandown and York.
As part of the Tote's “ongoing rejuvenation” the company also introduced the Tote Guarantee on racecourses last November, which ensures that the Tote Win price will always match or exceed the industry starting price.
Ahead of the start of the Cheltenham Festival, one of the major betting meetings of the year in Britain, Frost said, “We're all looking forward to a fantastic four days of racing at Cheltenham. We hope as many people as possible will bet with the Tote, both on-course and online, making the most of our Tote Guarantee and circa £1 million daily placepots.”
Owners wishing to take advantage of the Racing Revenue Share Scheme can contact the Tote via yards@tote.co.uk.
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