New Britbet deals kick in next week despite launch delay

The 55 tracks aligned to Britbet will start to receive revenues according to their shareholder agreements from next week despite the launch of the racecourse pool betting project having been delayed.

Britbet was supposed to have been launched on July 13, when Totepool owner Betfred's seven-year monopoly over pool betting in Britain expires.

However, Britbet, Betfred and Betfred's new partner in the Tote, the Alizeti consortium, have agreed a standstill arrangement in an attempt to develop a single pool-betting operation for the "best interests" of British racing.

While racegoers at the 55 courses involved will see little difference when placing their pool bets, there will be a change in the way funds from those bets flow back to the tracks.

At present courses receive a fixed commission and a fixed rental fee from Betfred for tote betting.

From July 13 Betfred will be supplying those courses with access to their pools such as win, place, Placepot and Jackpot, as well as supplying the equipment needed to take the bets, for a fee.

The remaining revenue from on-course betting would then go to the tracks, minus costs, which Britbet said would incentivise their courses to promote pool betting in order to benefit from increased turnover.

David Williams of Britbet said: "Control of the on-course operation and securing the optimum financial position for our racecourse partners remains a strategic priority."

The staff taking bets on the 55 courses from July 13 will be Britbet employees, with Tote staff having been transferred under TUPE regulations, while Britbet said they would be looking to deploy their own hardware on course later in the summer.

Williams added: "The changes we are implementing will modernise the on-course operation as well as ensuring that racecourses are able to manage where and how pool bets are sold on a racecourse, irrespective of the outcome of ongoing negotiations.

"Racecourses will own and control both the network and infrastructure which will be critical to future operational success, and we’re delighted to be putting in place the necessary elements which will allow racecourse pool betting to flourish."

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