SBC News Voice of the Sports Betting Industry
The Tote has signed an agreement with Britbet, enabling the company to offer the Tote Guarantee across the sports betting operator’s 55 racecourse partners.
As a result of the partnership, the Tote Guarantee will be made available on-course at Britbet-affiliated racetracks for a trial period of three months until January 2022. However, the partners are ‘hopeful that a positive response and feedback and racing fans’ will lead to the initiative being extended to continue on a long-term basis.
“As racegoers increasingly return to racecourses we want them to enjoy the best possible experience,” said Nigel Roddis, Britbet Managing Director.
“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.”
Launched in March 2020 as an initiative between the UK Tote Group, Jockey Club Racecourses and Britbet ahead of last year’s edition of the Cheltenham Festival, an an enhancement to the dividend which ensures that the Tote Win price will always match the horse racing Starting Price (SP) or exceed it if the pool price is greater.
Customers are subsequently paid a higher price when the Tote Price is greater than the SP, with the trio detailing a stated goal of ensuring that “racegoers can have the confidence to bet on any horse with the Tote and get the best price guaranteed on Win bets every time”.
The offering was trailed in the build up to its launch at a number of UK race tracks, with the partners reporting an uplift in turnover and positive customer feedback after the Tote win paid more than the SP for the majority of races.
Alex Frost, UK Tote, Group Chief Executive, remarked: “We are delighted to have worked with the Briitbet team and their racecourse partners to ensure Tote Guarantee is now available across 55 British racecourses.
“This is an important development in ensuring racing fans can have confidence in getting the best value when betting with the Tote. We look forward to reviewing its impact, continuing to innovate the pool betting offering, and working with our partners across British racing.”
