Morning / evening all,Ive read in the spoting life and others about this deal, and its quite vague on the opinions of the general punters, so Not606ers what are your opinions about this takeover and new arrangements,will it be for the better for the horseracing industry in general,how will it affect the punters. thanks Islander
Betfred were awarded an exclusive Pool Market for seven years, so they will be continuing with the totepool model for that period of time. They are also paying 6 million a year for that period to the sport. They have committed to keeping the 'Tote' brand, so not much on the outside should change immediately. They also will make a maximum of 150 people unemployed in the first year. Basically the Government didn't want to be seen to be associated with gambling so sold off something that was making them money. Bonkers or what?
Hi all just joined.Has any member read about any improvements or changes Fred intends to make ?.I have on line and phone accounts with them and am not a fan. I keep hearing rumours that a big player intends to start an exchange to go head to head with betfair,but so far no names or details ?.
My understanding of BetFred taking over the Tote was that the only job losses were expected to be ‘back room’ staff; i.e. employees at the Tote’s HQ in Wigan where there will be duplication of roles with BetFred’s own HQ in Warrington. Fred stated that he intends to rebrand the Tote’s high street betting offices under the BetFred name, although that must cause a conflict in some places where there is already a BetFred office just down the road from a Totesport office. The government is quite happy to sell off the Tote as the only money it was getting from the business is tax revenues – something that it will still get. The profits from the Tote went to racing and the terms of the sale ensure that racing is still guaranteed money. I have not heard any word on whether BetFred intends to rebrand all the races that are currently run under the Tote/Totesport name. My assumption is that they are obliged to fulfil existing Tote sponsorship contracts.
