Alizeti Group aiming to buy Tote outright in 2019 and reduce deduction rates

The Alizeti Group is planning to buy the Tote in its entirety in 2019 and also plans to reduce the deduction rate on win bets to 16 per cent from the current 19.25 per cent.

Alizeti, a consortium of racehorse owners and breeders, bought a 25 per cent stake in the Tote from Fred Done's Betfred in May with the option of purchasing the remainder of the operation in three to five years in a deal worth up to £150 million.

However, Alizeti's leadership have said in an interview in the Racing Post they plan to complete the acquisition next year.