Updating the market, the management of Ascot Racecourse has confirmed that it will launch its ‘AscotBet’ pool betting system in 2018.
The product will be developed in-partnership with Betfred’s Totepool, who will end its trackside pools monopoly on July 2018, opening the market to new incumbents.
Ascot management stated that following a review of options, it had decided to keep its existing partnership with Betfred’s Totepool agreeing terms for a five-year provisions partnership.
The racecourse detailed that Totepool’s established trackside operations combined with its stable liquidity would be its preferred option for its pools service.
Guy Henderson, Chief Executive, Ascot Racecourse, commented on AscotBet plans: “AscotBet’s first priority is to provide the very best service and experience that we can to our 600,000 annual racegoers, 300,000 of whom join us for the five days of Royal Ascot and place around 1.5 million pool bets. AscotBet’s customer service, supported by Totepool’s proven systems, will deliver this.”
It appears that Ascot will not join UK racing stakeholders the Jockey Club and Arena Racing Company who last month confirmed that they would launch a rival pool to Betfred’s Tote, stating that the sport needed a better system to generate new funds.
Fred Done, Chief Executive, Betfred, backed Ascot Racecourses decision: “I am delighted that Ascot has agreed to partner with Totepool and it is a privilege for us to work with the leading racecourse in the UK, and indeed the world.
“I have no doubt that Totepool, one of the most established pari-mutuels in Europe, will produce a class leading partnership with Ascot for many years to come.”