Betfred and Totepool have signed deals with 31 Racecourse Media Group (RMG) racetracks, plus Ascot, to provide pool betting services and on-course betting shops.
The courses include major tracks such as Cheltenham, Aintree, Newmarket, Epsom, York, Newbury, Goodwood and Sandown, plus Ascot, which will join RMG in June 2014.
The pool betting arrangement means that the on-course Totepool betting service will remain at those tracks until at least July 2018.
All on-course betting shops will now be operated by Betfred for the same term.
In addition, the deal ensures Betfred and Totepool’s significant portfolio of race sponsorship – including the Ebor, Cambridgeshire and Cesarewitch Handicaps – will continue across all the 32 courses. It means that Betfred/Totepool will deliver over £14.7m to the racecourses in sponsorship alone during the term of the agreement.
Richard FitzGerald, the CEO of RMG, who led the negotiations on behalf of the racecourses, said:
“We are delighted to conclude these deals with Betfred and Totepool which guarantee and protect the future of pool betting and Totepool products at our racecourses until July 2018.
“Both Betfred and Totepool are committed to developing the on-course business by working very closely with the racecourses. The aim is to not only provide a first-class service for racegoers but also to grow the business for the benefit of the sport as a whole.”
Phil Siers, the Totepool managing director, said:
“We are delighted to agree this new long-term contract, and to extend a relationship which first saw pool operation start at Newmarket and Carlisle in 1929, to the RMG tracks of today.
“With this new deal in place, Betfred, through Totepool, will consolidate its position as the exclusive supplier of tote pool products on UK racecourses.
“Totepool has an exclusive seven-year UK licence and is committed to developing and improving its racecourse facilities, and customer service to Betfred’s high standards.
“Totepool will make a significant capital investment in the business and expects this investment to drive a high rate of return, and to quickly help Totepool and its partners deliver a flagship operation.”
John Haddock, Betfred Managing Director, added:
“We are really looking forward to working with the racecourse management teams to develop and offer the customer the Bonus King brand which we are renowned for on the High Street.”