Britbet sets firm launch date as Tote competition heats up

The racecourse-led pool betting project, Britbet, has set a firm launch date for 13 July, following news its chief rival the Tote has secured major new investment.

The Racing Post yesterday reported a consortium called Alizeti planned to invest up £150m in the Tote over the next five years as part of a joint venture with Betfred.

The JV reportedly plans to reduce the Tote takeout to “previous levels” of around 16% while also “effectively doubling” the return to racing.

The competition for pool betting heats up in July when Betfred loses its monopoly on the segment, and Britbet plans to launch its own pool betting offering on behalf of 55 racecourses, including Jockey Club and Arena racing tracks.

Britbet’s director of communications David Williams told EGR this morning the project was on track to launch on 13 July and would bring “key improvements” to the sector.

“Our ‘by racing, for racing’ positioning will ensure that all revenues generated remain within the sport” Williams said.

“We are focussed on ensuring a first-class experience for customers, complimented by innovative products.

“Through a combination of ambitious partnerships with operators such as Colossus, a fresh approach to marketing of products and first-class customer service supported by modern-day technology we are confident we can make key improvements to the current Racing landscape.

“We remain open to any discussions with potential partners but are fully focussed on delivering the strategy we have outlined with the support of our 55 racecourses and existing talented commercial partners.”

Betfred declined to comment when contacted by EGR.