The Tote
Encyclopedia
The Tote, formerly the Horserace Totalisator Board, is a British bookmaker
with head offices in Wigan
. It was owned from its formation in 1928 by the UK Government but was sold to Betfred
in July 2011. Under the brand totesport the Tote has 514 high street betting shops, outlets on Britain's 60 racecourses, as well as internet and call centre divisions. The company is known for its pool bets
such as the Scoop6, and is the only organisation in the UK which is allowed to run pool betting on horseracing. It has a seven year exclusive licence from the date of the company's privatisation to continue offering pool bets. The company has also branched out into fixed odds
betting on other sports in recent years, as well as casino and bingo operations online.
. It was set up by Winston Churchill
as a government-appointed board, with the intention of providing a safe, state-controlled alternative to illegal off course bookmakers and ensuring that some gambling revenues were put back into the sport of horse racing. The first major race meetings with tote betting were the flat race meetings at Newmarket
(July Course) and Carlisle
on 2 July 1929.
Under the Betting Levy Act 1961 the board was reconstituted as the Horserace Totalisator Board (the Tote), with responsibility for the redistribution of funds to racing transferred to the Horserace Betting Levy Board.
The Tote opened its first high street betting shop in 1972, and has since grown to employ more than 4,000 staff. Tote Direct was set up in 1992 to channel tote bets from other high street bookmakers into tote pools. Now tote betting is accepted in more than 7,000 betting shops across the UK (the majority of which are non-Tote owned shops) as well as via other online gambling websites.
In 1999, the Tote linked up with Channel 4 Racing
to introduce the popular Scoop6 bet which involves bettors trying to select the winner of six televised races. This bet produced the first horserace betting millionaire, a feat which has been achieved on several more occasions since. A record single-day turnover, in excess of £4 million, was bet into the Scoop6 pool on 22 November 2008.
The Tote has formal pool betting links from similar organisations in Ireland, Germany, Holland, America and South Africa.
government following a study by Lloyds Bank
into a possible sell off. However, these plans were met with strong opposition from the racing industry and were later abandoned by the then Home Secretary
Michael Howard
in 1995.
After the 1997 general election
Howard's Labour
successor Jack Straw
launched a fresh study and privatisation of the organisation was made a manifesto
commitment in 2001. To enable privatisation the Horserace Betting and Olympic Lottery Act 2004 was passed with the intention of converting the Tote from a statutory corporation to a limited company so that a sale could take place. The then Chancellor
Gordon Brown
announced plans for privatisation in the 2006 Budget
and the Government invited a racing consortium and Tote staff to formally bid for the Tote by 26 January 2007. This bid was successfully submitted but was rejected by the Department for Culture, Media and Sport
as it was backed by private equity
. On 5 March 2008, the Government announced that The Tote would be sold on the open market. However, after an extensive audit, the prevailing financial situation forced the Government to opt to retain the status quo until further notice. On 12 October 2009, Gordon Brown, at that point Prime Minister
, announced plans for the sale of the Tote along with a number of other publicly owned assets, although no progress was made before the 2010 general election.
Under the new Coalition government, a competitive bidding process ensued with 18 bidders entering at the first round stage. On 31 January 2011, the government announced that a short-list had been drawn-up for the next round of the process but declined to confirm which bids were on it. There were believed to be five, including Betfred
, David and Simon Reuben
, Gala Coral Group, Sports Investment Partners led by Sir Martin Broughton
and a foundation set up by the existing management, although there were indications of a sixth. Stan James
was suggested as this sixth party but declined to comment when asked. In May 2011 it was reported that only two bidders remained in the process, Betfred and Sports Investment Partners. On 3 June 2011, it was confirmed that Betfred
had been chosen by Culture Secretary Jeremy Hunt as the successful bidder, for a reported figure of £265m. The sale process was completed on 13 July 2011.
Bookmaker
A bookmaker, or bookie, is an organization or a person that takes bets on sporting and other events at agreed upon odds.- Range of events :...
with head offices in Wigan
Wigan
Wigan is a town in Greater Manchester, England. It stands on the River Douglas, south-west of Bolton, north of Warrington and west-northwest of Manchester. Wigan is the largest settlement in the Metropolitan Borough of Wigan and is its administrative centre. The town of Wigan had a total...
. It was owned from its formation in 1928 by the UK Government but was sold to Betfred
Betfred
Betfred is a United Kingdom-based bookmaker, named after its co-founder Fred Done.Pronounced to rhyme with "bone". It was first established as a single shop in Ordsall, Salford, in 1967. Its turnover is over £3.5 billion having risen from £550 million in 2003. The company has more than 1350 betting...
in July 2011. Under the brand totesport the Tote has 514 high street betting shops, outlets on Britain's 60 racecourses, as well as internet and call centre divisions. The company is known for its pool bets
Betting pool
A betting pool, sports lottery, sweep or office pool if done at work, is a form of gambling, specifically a variant of parimutuel betting influenced by lotteries, where gamblers pay a fixed price into a pool , and then make a selection on some outcome, usually related to sport...
such as the Scoop6, and is the only organisation in the UK which is allowed to run pool betting on horseracing. It has a seven year exclusive licence from the date of the company's privatisation to continue offering pool bets. The company has also branched out into fixed odds
Fixed-odds gambling
Fixed-odds betting is a form of wagering against odds offered by a bookmaker, an individual, or on a bet exchange.-Calculating fixed odds:It is customary with fixed-odds gambling to know the odds at the time of the placement of the wager , although this category also includes wagers whose price is...
betting on other sports in recent years, as well as casino and bingo operations online.
History
The Racehorse Betting Control Board was created by the Racecourse Betting Act 1928, as a statutory corporationStatutory Corporation
A statutory corporation or public body is a corporation created by statute. While artificial legal personality is almost always the result of statutory intervention, a statutory corporation does not include corporations owned by shareholders whose legal personality derives from being registered...
. It was set up by Winston Churchill
Winston Churchill
Sir Winston Leonard Spencer-Churchill, was a predominantly Conservative British politician and statesman known for his leadership of the United Kingdom during the Second World War. He is widely regarded as one of the greatest wartime leaders of the century and served as Prime Minister twice...
as a government-appointed board, with the intention of providing a safe, state-controlled alternative to illegal off course bookmakers and ensuring that some gambling revenues were put back into the sport of horse racing. The first major race meetings with tote betting were the flat race meetings at Newmarket
Newmarket Racecourse
The town of Newmarket, in Suffolk, England, is the headquarters of British horseracing, home to the largest cluster of training yards in the country and many key horse racing organisations. Newmarket Racecourse has two courses - the Rowley Mile Course and the July Course. Both are wide, galloping...
(July Course) and Carlisle
Carlisle Racecourse
Carlisle Racecourse is a thoroughbred horse racing venue located at Blackwell, Cumbria village, near Carlisle, Cumbria, England. The course has been on its present site since 1904, when it moved there from another location near Carlisle. The course is 1m 4f in circumference, right handed, and hosts...
on 2 July 1929.
Under the Betting Levy Act 1961 the board was reconstituted as the Horserace Totalisator Board (the Tote), with responsibility for the redistribution of funds to racing transferred to the Horserace Betting Levy Board.
The Tote opened its first high street betting shop in 1972, and has since grown to employ more than 4,000 staff. Tote Direct was set up in 1992 to channel tote bets from other high street bookmakers into tote pools. Now tote betting is accepted in more than 7,000 betting shops across the UK (the majority of which are non-Tote owned shops) as well as via other online gambling websites.
In 1999, the Tote linked up with Channel 4 Racing
Channel 4 Racing
Channel 4 Racing is the name given to the horse racing coverage on the British television station Channel 4.-History:The first transmission of racing on the channel was on 22 March 1984 from Doncaster, as it took over midweek coverage which had previously been on ITV...
to introduce the popular Scoop6 bet which involves bettors trying to select the winner of six televised races. This bet produced the first horserace betting millionaire, a feat which has been achieved on several more occasions since. A record single-day turnover, in excess of £4 million, was bet into the Scoop6 pool on 22 November 2008.
The Tote has formal pool betting links from similar organisations in Ireland, Germany, Holland, America and South Africa.
Privatisation
Privatisation was first suggested in 1989 by the then ConservativeConservative Party (UK)
The Conservative Party, formally the Conservative and Unionist Party, is a centre-right political party in the United Kingdom that adheres to the philosophies of conservatism and British unionism. It is the largest political party in the UK, and is currently the largest single party in the House...
government following a study by Lloyds Bank
Lloyds Bank
Lloyds Bank Plc was a British retail bank which operated in England and Wales from 1765 until its merger into Lloyds TSB in 1995; it remains a registered company but is currently dormant. It expanded during the nineteenth and twentieth centuries and took over a number of smaller banking companies...
into a possible sell off. However, these plans were met with strong opposition from the racing industry and were later abandoned by the then Home Secretary
Home Secretary
The Secretary of State for the Home Department, commonly known as the Home Secretary, is the minister in charge of the Home Office of the United Kingdom, and one of the country's four Great Offices of State...
Michael Howard
Michael Howard
Michael Howard, Baron Howard of Lympne, CH, QC, PC is a British politician, who served as the Leader of the Conservative Party and Leader of the Opposition from November 2003 to December 2005...
in 1995.
After the 1997 general election
United Kingdom general election, 1997
The United Kingdom general election, 1997 was held on 1 May 1997, more than five years after the previous election on 9 April 1992, to elect 659 members to the British House of Commons. The Labour Party ended its 18 years in opposition under the leadership of Tony Blair, and won the general...
Howard's Labour
Labour Party (UK)
The Labour Party is a centre-left democratic socialist party in the United Kingdom. It surpassed the Liberal Party in general elections during the early 1920s, forming minority governments under Ramsay MacDonald in 1924 and 1929-1931. The party was in a wartime coalition from 1940 to 1945, after...
successor Jack Straw
Jack Straw
Jack Straw , British politician.Jack Straw may also refer to:* Jack Straw , English* "Jack Straw" , 1971 song by the Grateful Dead* Jack Straw by W...
launched a fresh study and privatisation of the organisation was made a manifesto
Manifesto
A manifesto is a public declaration of principles and intentions, often political in nature. Manifestos relating to religious belief are generally referred to as creeds. Manifestos may also be life stance-related.-Etymology:...
commitment in 2001. To enable privatisation the Horserace Betting and Olympic Lottery Act 2004 was passed with the intention of converting the Tote from a statutory corporation to a limited company so that a sale could take place. The then Chancellor
Chancellor of the Exchequer
The Chancellor of the Exchequer is the title held by the British Cabinet minister who is responsible for all economic and financial matters. Often simply called the Chancellor, the office-holder controls HM Treasury and plays a role akin to the posts of Minister of Finance or Secretary of the...
Gordon Brown
Gordon Brown
James Gordon Brown is a British Labour Party politician who was the Prime Minister of the United Kingdom and Leader of the Labour Party from 2007 until 2010. He previously served as Chancellor of the Exchequer in the Labour Government from 1997 to 2007...
announced plans for privatisation in the 2006 Budget
Government budget
A government budget is a legal document that is often passed by the legislature, and approved by the chief executive-or president. For example, only certain types of revenue may be imposed and collected...
and the Government invited a racing consortium and Tote staff to formally bid for the Tote by 26 January 2007. This bid was successfully submitted but was rejected by the Department for Culture, Media and Sport
Department for Culture, Media and Sport
The Department for Culture, Media and Sport is a department of the United Kingdom government, with responsibility for culture and sport in England, and some aspects of the media throughout the whole UK, such as broadcasting and internet....
as it was backed by private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
. On 5 March 2008, the Government announced that The Tote would be sold on the open market. However, after an extensive audit, the prevailing financial situation forced the Government to opt to retain the status quo until further notice. On 12 October 2009, Gordon Brown, at that point Prime Minister
Prime Minister of the United Kingdom
The Prime Minister of the United Kingdom of Great Britain and Northern Ireland is the Head of Her Majesty's Government in the United Kingdom. The Prime Minister and Cabinet are collectively accountable for their policies and actions to the Sovereign, to Parliament, to their political party and...
, announced plans for the sale of the Tote along with a number of other publicly owned assets, although no progress was made before the 2010 general election.
Under the new Coalition government, a competitive bidding process ensued with 18 bidders entering at the first round stage. On 31 January 2011, the government announced that a short-list had been drawn-up for the next round of the process but declined to confirm which bids were on it. There were believed to be five, including Betfred
Betfred
Betfred is a United Kingdom-based bookmaker, named after its co-founder Fred Done.Pronounced to rhyme with "bone". It was first established as a single shop in Ordsall, Salford, in 1967. Its turnover is over £3.5 billion having risen from £550 million in 2003. The company has more than 1350 betting...
, David and Simon Reuben
David and Simon Reuben
David and Simon Reuben are well known British businessmen and philanthropists. In the Forbes magazine List of billionaires 2011, ranking of the wealthiest people in the UK, the brothers were placed second with an estimated fortune of £5.5 billion...
, Gala Coral Group, Sports Investment Partners led by Sir Martin Broughton
Martin Broughton
Sir Martin Faulkner Broughton is a British businessman who is the current chairman of British Airways and former chairman of Liverpool Football Club...
and a foundation set up by the existing management, although there were indications of a sixth. Stan James
Stan James
Stan James is a British bookmaker established in 1973, and trades online under the name StanJames.com. The company is based in Marina Bay, Gibraltar with offices in Abingdon, Oxfordshire. The companies which operate Stan James, Stan James Limited and Stan James Limited, are privately-held companies...
was suggested as this sixth party but declined to comment when asked. In May 2011 it was reported that only two bidders remained in the process, Betfred and Sports Investment Partners. On 3 June 2011, it was confirmed that Betfred
Betfred
Betfred is a United Kingdom-based bookmaker, named after its co-founder Fred Done.Pronounced to rhyme with "bone". It was first established as a single shop in Ordsall, Salford, in 1967. Its turnover is over £3.5 billion having risen from £550 million in 2003. The company has more than 1350 betting...
had been chosen by Culture Secretary Jeremy Hunt as the successful bidder, for a reported figure of £265m. The sale process was completed on 13 July 2011.
Key dates
- 1928 Racecourse Betting Act passed (August) Racecourse Betting Control Board (the Tote) set up to handle on-course cash pool bets on horse racing
- 1929 First meeting operated under Licence: West Street Harriers (13 March)
- First meeting operated with Board's staff: Old Surrey & Burstow (27 April)
- First major meetings: Newmarket (July Course) and Carlisle (2 July)
- 1930 Tote Investors Ltd set up as an independent company to handle off-course credit tote bets
- 1933 First grants made from Tote profits to Hunters' Improvement Society, promoters of point-to-point meetings and pony racing
- 1956 First sponsored race: Tote Investors Cup (Kempton)
- 1961 Betting Levy Act transferred responsibility for distribution of funds to racing to the Levy Board; Board reconstituted as Horserace Totalisator Board; Tote Investors Ltd opened two betting shops to handle tote pool bets only
- 1962 Tote buys Tote Investors Ltd
- 1972 Tote permitted to handle bets on all sports
- 1973 Tote Bookmakers launched
- 1986 Live TV pictures in betting shops
- 1992 Tote Direct launched (joint venture with Corals)
- 1993 Betting shops open in the evening
- 1995 Sunday racing (May: Newmarket and Salisbury)
- 1997 Tote permitted to handle bets on all events, including numbers. Ladbrokes join Tote Direct
- 2002 Tote betXpress internet service launched
- 2004 Official unveiling of totesport/totepool
- 2009 Two year deal to sponsor Hull City A.F.C.Hull City A.F.C.Hull City Association Football Club is an English association football club based in Kingston upon Hull, East Riding of Yorkshire, founded in 1904. The club participates in the Football League Championship, the second tier of English football...
- 2011 The sale of the Tote to BetfredBetfredBetfred is a United Kingdom-based bookmaker, named after its co-founder Fred Done.Pronounced to rhyme with "bone". It was first established as a single shop in Ordsall, Salford, in 1967. Its turnover is over £3.5 billion having risen from £550 million in 2003. The company has more than 1350 betting...
History of Tote pool bets
- 1929 Win and Place pools
- 1930 Daily Double launched (discontinued 1985) Special Autumn Double (Cesarewitch/Cambridgeshire)
- 1931 Ante-post bets on Cambridgeshire and Manchester November Handicap (money was placed in main pools)
- 1933 Straight forecast pool (3 or 4 runner races) (discontinued 1939)
- 1934 Unsuccessful experiment with Single Pools (Win and Place bets in the same pool)
- 1939 Daily Treble (discontinued 1985)
- 1947 Straight forecast pool re-introduced (3 to 5 runner races) (discontinued 1977)
- 1955 Dual Forecast (discontinued 2000)
- 1965 Quadpool (discontinued 1966)
- 1966 Jackpot (June: Royal Ascot)
- 1970 Tricast (Discontinued 1973)
- 1977 Placepot (November: Newbury)
- 1979 Top Three Jockey Pool at Ascot
- 1983 Super Double and Super Treble (Scottish courses only) (discontinued 1983)
- 1991 Trio (discontinued 1998)
- 1994 Quadpot launched (June: Pontefract and Nottingham) and Multibet (May: Goodwood)
- 1998 Trifecta launched (August: Goodwood)
- 1999 Scoop6 launched (July)
- 2000 Exacta launched (January)
- 2008 Swinger and Super7 launched (Super7 Discontinued 2011)