UK Tote Group | Horse Racing Free Tips

World Pool Season Expands Internationally

World Pool, the largest commingled horse racing pools created and powered by the Hong Kong Jockey Club (HKJC), will expand to 25 fixtures in 2023, with some of the new additions the Lightning S. Day in Australia (Feb. 18), The Saudi Cup (Feb. 25), and Irish Derby Day (July 2).

Provisional World Pool events will be hosted on the following days in 2023:

28: Met Day – Kenilworth Racecourse, South Africa
18: Black Caviar Lightning Race Day – Flemington Racecourse, Australia
25: Saudi Cup – King Abdulaziz Racecourse in Riyadh, Saudi Arabia
4: Super Saturday – Meydan Racecourse, Dubai
25: Dubai World Cup – Meydan Racecourse, Dubai
May 20: Lockinge S. Day – Newbury Racecourse, UK
July 2: Irish Derby Day – the Curragh, Ireland
July 2: Deutsches Derby Day – Hamburg-Horn, German

The World Pool Moment of the Year has been extended to all global World Pool meetings and will reward stable staff with a total of over HK$1 million (approx. £103,000) in prizes, as well as a VIP trip to Hong Kong, thanks to additional funding from the HKJC, UK Tote Group, Racecourse Media Group (RMG) and Ascot Racecourse. For more information, please visit the World Pool website for more.

Michael Fitzsimons, Executive Director Wagering Products of the Hong Kong Jockey Club, said, “We were absolutely thrilled with the results from our 21 World Pool meetings in 2022 and are excited to be extending that offering to 25 days this year.

“Having Australia and Saudi Arabia on the fixture list of 2023 World Pool meetings is another important step in the globalisation of World Pool, while adding some high-profile British and Irish meetings to the schedule is another exciting advancement.

“To complement our expanding list of World Pool meetings are the Moment of the Day and Moment of the Year initiatives, which for the first time will reward winning stable staff from all countries hosting World Pool races.

“Last year's launch of the competition in the UK and Ireland was met with great feedback from yards across the region and we look forward to opening that up to our World Pool days in South Africa, Australia, Saudi Arabia and Dubai.”

Alex Frost, Chief Executive of the UK Tote Group, said, “We are looking forward to another World Pool season which now extends its reach across eight countries worldwide. For the UK and Ireland, it is welcome to see new additions to this year's schedule, with two races from Newbury's Lockinge Day added, along with Irish Derby Day, taking World Pool events hosted in the UK and Ireland to a total of 18.

“The ambitions for a global wagering platform are already being realised with over 20 pool betting operators now part of World Pool. Last year alone, the UK and Ireland saw record turnover of £521 million across 17 World Pool events, showcasing the best of our racing to a global audience, ensuring an improved value proposition for our own wagering customers and creating a more sustainable funding mechanism for horseracing in the future, with additional income for our racecourse partners.

“Our continued thanks go to our partners the Hong Kong Jockey Club, and in collaboration with RMG and Ascot, we are delighted to see Moment of the Day and Moment of the Year now extended to include all countries hosting World Pool races.”

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UK Racing Joins UK Government’s GREAT Campaign

British racing has formally been incorporated into the UK Government's GREAT Britain & Northern Ireland campaign, which showcases the best of the UK on an international stage. New racing imagery for the campaign was launched via The Jockey Club on the big screens and in the racecard at the Cazoo Derby Festival, a key component of The Queen's Platinum Jubilee. The imagery is now available to UK Government departments and its international network, including Embassies and High Commissions, for use on trade missions, at receptions and conferences. Great British Racing International (GBRI), the British Horseracing Authority (BHA), UK Tote Group and Ascot Racecourse led the UK racing industry's efforts to be included in the campaign.

Ross Hamilton, Head of Public Affairs at the British Horseracing Authority, said, “The BHA and our partner organisations are delighted to see this new imagery, showcasing the brilliance, diversity, and international appeal of British racing, included as part of the GREAT campaign. This is an important demonstration of how the UK Government can work with British racing as a soft power asset for the UK, while supporting our industry's ambition to grow our international leadership position in the global thoroughbred industry. We continue this work daily across a range of Government departments and industry objectives.”

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Trainers To Benefit From New Tote Scheme

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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Thoroughbred Idea Foundation: Competition From Fixed-Odds Betting Good For Racing’s Customer

Legal, fixed-odds betting on horse racing in America, which has essentially been limited to big races offered by Nevada books, will take a big leap forward this summer when Monmouth Park, in partnership with Australian firm The Betmakers, will introduce a daily fixed-odds market for Monmouth's races and enable other bet-takers in the state to do the same. It is thought that fixed odds on simulcast races imported to New Jersey might be offered soon as well.

There should be little question that this is both a work-in-progress and a potentially massive step forward for racing, presenting customers with a new set of wagering options. Dennis Drazin, CEO of Darby Development, operators of Monmouth Park, has been the driving force behind the fixed odds play. He led a prolonged battle to overturn the Professional and Amateur Sports Protection Act (PASPA), which yielded legal sports betting in New Jersey and other states since.

Pari-mutuel betting has dominated the American landscape for decades. The only routine source of fixed odds betting for Americans on American racing is through “off-shore” options, which generally contribute nothing to tracks or horsemen. The evolution of regulated, fixed-odds wagering on racing in America will serve as a much-needed competitive volley against pari-mutuel options which have done little to modernize their product over the years.

As it grows, fixed odds betting on American racing should improve tote betting on American racing. It should inspire investment to modernize the tote system, to better serve customers and present a better betting experience. Without the competition, the American tote wagering experience has stagnated. Some examples

– Bet pricing is high.

– Tote breakage, the rounding down of tote dividends, is an archaic practice that has long-served as an additional tax on customers.

– Late odds changes make it near impossible for customers to know what they would expect to receive should they win.

– New bet types have favored higher takeout, lower-churn wagers.

– Markets are only visible for short periods, roughly only the 25 minutes between races. A majority of money wagered comes in the last minutes before a race is run.

– Projected payouts in exotic bets like trifectas, superfectas and pick “n” wagers (beyond doubles) are not offered.

In a more competitive landscape, bettors should expect service upgrades.

In Great Britain, a jurisdiction which has been dominated by fixed-odds betting for decades, pari-mutuel wagering (often called pool betting in the UK) has been a minor player. The UK Tote Group, a consortium of key owners and breeders in British racing, completed an acquisition and took-over pool betting in the country in late 2019.

Faced with a market that has been dominated by fixed odds betting, bolstered with a strong retail business through betting shops in nearly every British town and an online product supported by a near endless marketing blitz, the UK Tote Group had to devise a method to attract interest in a more sustainable source of betting for racing through pools betting.

Their idea – guarantee that the final tote win price at least match that of the final “starting price” offered by fixed odds providers on win bets (a single “starting price” is agreed upon for placement in the permanent record of the race). If the tote price falls short, the UK Tote Group will chip in to top-up the win dividend to winning customers, with protections in place to avoid manipulation.

Now, there are some very clear deficiencies with the British racing funding model.

Contributions from fixed-odds bookmakers represent a source of funding for purses, governed by the rules set out by the Horseracing Betting Levy Board (HBLB).

“The Levy on off-course betting…is collected from bookmakers as a percentage of the gross profit on their horserace betting business. The majority of Levy income is expended in direct support of horseracing.

“HBLB is among the most important contributors to horseracing's finances. The original intention of establishing the Levy, and therefore HBLB, was to provide a means of compensating racing for the loss of attendance that was anticipated when off-course betting shops were legalised in 1961. Today, HBLB applies Levy funds to a wide range of schemes in direct support of horseracing.”

Per-race prize money in the UK is some of the lowest in the world. There is no suggestion this funding model should be replicated in America, in fact, the funding model should be the opposite.

Establishing fair splits of existing tote betting and new fixed-odds betting on racing should be the key. New Jersey is seeking to prove and refine the model, the rest of the country should follow along enabling fixed-odds betting on racing.

It should be good for racing and the trickle down benefits felt by all of the sport's stakeholders.

It's beyond time.

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