Betfred is the Winning Bidder for the Tote

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Betfred is the winning bidder for the Tote

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Betfred is the winning bidder for the Tote

Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus

3 June 2011


UK-based bookmaker Betfred has actually been chosen to purchase the Tote after an auction process that started in November.


BBC service editor Robert Peston said Culture Secretary Jeremy Hunt had picked Betfred although the bet9ja's welcome offer had actually not been completed, with some technicalities still being figured out.


The cost is not yet understood but Betfred is believed to have actually bid about ₤ 200m.

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Half of the yohaig code charge will go to the yohaig code racing market and racing charities, and the majority of the rest will go to the federal government.


The racing industry might be dissatisfied, since it was comprehended to have actually preferred the rival quote from SIP, a consortium led by British Airways chairman Martin Broughton.


Successive federal governments have been trying to privatise the Tote for about 14 years, however have never come this promotion code close to doing so.


The government is hoping that the deal will not fall nasty of EU state aid rules or be overturned by a judicial review.


Jockey opposition

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The Tote was established 83 years ago to bet9ja's welcome offer a safe house for punters, controlled by the state, and beyond the reach of prohibited bookies.


It enjoys a monopoly of horse race pool-betting in exchange for an assurance that cash was pumped back into the sport.


The Tote is based in Wigan, with more than 4,000 staff, and presently injects half its revenues into racing.


In 2015, Chancellor George Osborne assured to secure value for taxpayers while acknowledging the support the Tote offered to the market.


The Tote gave nearly ₤ 19m to horse racing in 2010.

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Efforts over the previous three years to sell off the Tote struck issues, and the yohaig code federal government deals with getting a lower price than the ₤ 400m mooted in 2007.

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The Jockey Club opposes the sale and desires the Tote to stay independent.


The Tote has 517 High Street wagering stores and the monopoly to run swimming pool wagering online and at 60 racecourses in the UK.

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