Tote: deductions from win pool to increase later this monthPICTURE: John Grossick (racingpost.com/photos)
Tote to increase win pool deductions
THE TOTE are to increase their deductions from win pool bets from 13.5 per cent to 16.5 per cent from October 22.
They said the increase had been made to improve UK pool liquidity and competitiveness and to make UK pools more attractive to international participation as co-mingling had been limited by an imbalance in deduction rates.
It is the first change to the win pool deduction since the then Tote chairman Peter Jones reduced the rate from 16 per cent in March 2003.
Betfred has a seven-year exclusive licence to offer pool betting following Fred Done's takeover of the Tote in June last year.
Totepool managing director Phil Siers said: "These rate changes will enable Totepool to establish a further bridgehead in international pool co-mingling, offering the UK punter better and bigger pools. This is an exciting development for Totepool and its racecourse partners, and we look forward to greater pool success going forward."
The deductions from the exacta and trifecta pools have been reduced from 26 per cent to 25 percent.