bet9ja.com
Betfred is the winning bidder for the yohaig code Tote
bit.ly
3 June 2011

UK-based bookmaker Betfred has actually been picked to purchase the Tote after an auction procedure that began in November.

BBC organization editor Robert Peston stated Culture Secretary had picked Betfred although the deal had actually not been finished, with some technicalities still being figured out.

The cost is not yet understood however Betfred is thought to have bid about ₤ 200m.
bet9ja.com
Half of the charge will go to the racing market and racing charities, and many of the rest will go to the government.
bit.ly
The racing market may be disappointed, due to the fact that it was understood to have actually chosen the competing quote from SIP, a consortium led by British Airways chairman Martin Broughton.
bet9ja.com
Successive federal governments have actually been trying to privatise the Tote for about 14 years, however have actually never come this promotion code near to doing so.

The government is hoping that the deal will not fall foul of EU state aid rules or be reversed by a judicial evaluation.
bet9ja.com
Jockey opposition

the yohaig code Tote was set up 83 years ago to supply a safe sanctuary for punters, controlled by the state, and beyond the reach of illegal bookies.
bit.ly
It delights in a monopoly of horse race pool-betting in exchange for a warranty that money was pumped back into the sport.

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

In 2015, Chancellor George Osborne guaranteed to secure worth for taxpayers while acknowledging the assistance the Tote gave to the industry.

The Tote offered nearly ₤ 19m to horse racing in 2010.
bit.ly
Efforts over the past 3 years to sell the Tote struck problems, and the federal government deals with getting a lower rate than the ₤ 400m mooted in 2007.
bet9ja.com
The Jockey Club opposes the sale and wants the Tote to remain independent.

The Tote has 517 High Street betting shops and the monopoly to run swimming pool betting online and at 60 racecourses in the UK.
bit.ly