SEARCH NEWS:

 

British Government to Sell Tote

UNITED KINGDOM – As reported by the BBC: "One of the most enduring symbols of British racing is to be sold off by the Labour government as part of a commitment made in its 2001 General Election manifesto.

"The Tote, or Horserace Totalisator Board, was founded by Winston Churchill in 1928 as a safe haven for punters, controlled by the state, and beyond the reach of illegal bookmakers. It enjoys a monopoly of horse race pool-betting in exchange for a guarantee that money is pumped into the sport every year.

"…With privatisation now on the way, and sale to a horse racing trust, the Tote is poised for an even stronger new lease of life.

"…In 1993 the British Horseracing Board (BHB) was set up, with the takeover of the Tote as one of its founding aims.

"…Tote chairman Peter Jones also supports the creation of a trust…"

< Gaming News