The UK Tote Group, Jockey Club Racecourses and Britbet have agreed that the new ‘Tote Guarantee’ will be made available to punters at next week’s Cheltenham Festival.
The Tote Guarantee will ensure that The Tote will at least match the industry Starting Price (SP), with the chance to exceed the SP if the pool price is bigger on all win bets.
Mark Kemp, Managing Director of the UK Tote Group, said: “We are delighted to have worked with The Jockey Club’s team at Cheltenham and Britbet to make Tote Guarantee available on course at The Festival, as well as every day on tote.co.uk and the other racecourses, for the biggest racing week of the year. We would like to sincerely thank all those involved for enabling this to be agreed,
“Alongside the new Tote Guarantee, the Tote will be offering our full range of pools, including estimated £1 million Tote Placepot on course, online and through every major bookmaker, each day of the Cheltenham Festival. Like everyone else we’re all looking forward to another superb Festival, where the Tote will be better value than ever.”
The promotion has been trialed over a range of racecourses during the last month in preparation for jump racing’s biggest event of the year. The trial has generated an uplift in turnover, as well as positive feedback from customers, with the Tote win paying more than the SP the majority of the time.
Ian Renton, Cheltenham and South West Regional Director for Jockey Club Racecourses, added: “Our focus is to stage the best four days of Jump Racing in the world for racegoers and participants alike. The Tote Guarantee ensures racegoers will receive great value if they choose to bet with the Tote next week and we hope the initiative proves a success.”
Jockey Club Racecourses and its pool betting service provider, Britbet, have since agreed with the UK Tote Group that the Tote Guarantee should be available to the 265,000+ racegoers who will attend The Cheltenham Festival between Tuesday 10th and Friday 13th March, as well as all other racecourses operating on those days.
Nigel Roddis, Britbet Managing Director, concluded: “The competition for racegoers betting spend is magnified at this event, so it makes sense to extend the trial of this initiative. The Festival provides a valuable opportunity to continue our ‘test and learn’ approach on behalf of our racecourse partners.”
Source: SBCnews