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Leagues and Governing Bodies

Deal To Establish Rival To Tote Betting System Reportedly Imminent

Six years after the Tote was privatized, "a deal to establish a rival to the betting system is due to be signed within a fortnight," according to Mark Souster of the LONDON TIMES. It is reportedly "supported by all but four of the country’s racecourses." The project, which has been two years in the making, "promises to provide an additional multimillion-pound revenue stream for racing after it launches in July next year," as the venture will keep all profits for the sport rather than for shareholders. It is understood that 56 of the 60 tracks, including all those in the Jockey Club and the Arena Racing Company groups plus independent tracks such as Goodwood, Newbury and York, have "committed in principle to the venture." The "glaring exception at present is Ascot." As well as betting on course, punters will also be "able to do so in bookmakers," which will be able to buy rights from the new company. Jockey Club CEO Simon Bazalgette said, "This will grow commercial revenues for racing." Racing’s existing contract "runs out in July next year, but the finishing touches to the new venture are already being put together." Neil Goulden, a gaming industry veteran, will be the chair, while branding and a new name will be announced in "due course." Each course will have the flexibility to "run its own pool betting as part of a central operation." All partners "will get out of it what they put in; those tracks which generate most get most back" (LONDON TIMES, 3/27).

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