Tote to seed pools so early-bird punters are not left in the dark on dividends

The Tote is to launch what it describes as a "pool guarantee service" when racing resumes in Britain on Monday, to ensure customers who bet into Tote pools early in the day will see potential dividends that are likely to reflect final returns.

The move has been brought in as, without racecourse or betting shop customers betting into pools, there was the possibility that lack of liquidity would mean wildly variable odds being displayed until a short time before each race.

"It's there to enhance the pool betting experience for customers," the Tote's director of communications, Susannah Gill, said. "Given there will be no betting into pools from customers at racecourses and with retail bookmakers currently closed that will impact on pool volumes.

"The pool guarantee service will see the Tote replace some of this liquidity with a similar spread of activity, ensuring customers can bet into robust pools where prices will be more stable for several hours ahead of each race.

"The prices customers see when they bet with the Tote will be more likely to reflect the dividend paid out on bets and reduce the impact of last-minute price fluctuations. This was an issue raised by racing fans who engaged with the Tote 'Town Hall' initiative in 2018-19. This sought to better understand how to boost the appeal of pool betting in the UK and improve the experience for customers."

Tote pools on British racing open at midnight and the extra liquidity is likely to be put into pools when they become active in the hours leading up to each race. Seeding the pools could result in the Tote 'winning' customers' money in certain circumstances but Gill said that the intention is not to profit from this.

"All revenue will be recycled and the ideal situation is to come out neutral over the long term. The money will be evenly spread and it's all about creating a better ecosystem for pools in which a lot of the money comes in late.

"We will keep a watching brief to see whether it will be retained after racecourses open up to customers but we regard it as important to try innovative ways of improving customers' experience."

As well as being implemented on all British racing, including Win, Place, Exacta, Trifecta, Swinger, Placepot and Quadpot pools, the pool guarantee service will also apply to Tote-hosted pools on racing in Hong Kong and France, including placepots.

It will operate alongside 'Tote Guarantee', launched in February, which ensures the Tote win dividend matches the industry starting price or exceeds it if the pool price is bigger.

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