Betfred is the yohaig code winning bidder for the Tote
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3 June 2011

UK-based bookie Betfred has been chosen to buy the Tote after an auction process that began in November.

BBC service editor Robert Peston said Culture Secretary Jeremy Hunt had actually selected Betfred although the bet9ja's welcome offer had not been completed, with some technicalities still being sorted out.

The price is not yet known but Betfred is believed to have actually bid about ₤ 200m.
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Half of the fee will go to the racing market and racing charities, and most of the yohaig code rest will go to the government.

The racing market may be disappointed, because it was understood to have actually chosen the yohaig code rival quote from SIP, a consortium led by British Airways chairman Martin Broughton.
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Successive federal governments have actually been attempting to privatise the Tote for about 14 years, but have never ever come this promotion code near doing so.

The government is hoping that the offer will not fall nasty of EU state aid rules or be overturned by a judicial evaluation.
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Jockey opposition
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The Tote was established 83 years ago to bet9ja's welcome offer a safe sanctuary for punters, managed by the state, and beyond the reach of prohibited bookies.

It enjoys a monopoly of horse race pool-betting in exchange for a guarantee that cash was pumped back into the sport.
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The Tote is based in Wigan, with more than 4,000 staff, and currently injects half its revenues into racing.

Last year, Chancellor George Osborne guaranteed to secure value for taxpayers while acknowledging the support the Tote offered to the industry.

The Tote gave practically ₤ 19m to horse racing in 2010.
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over the previous 3 years to offer off the Tote hit issues, and the federal government deals with getting a lower cost than the ₤ 400m mooted in 2007.
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The Jockey Club opposes the sale and desires the Tote to stay independent.

The Tote has 517 High Street wagering stores and the monopoly to run pool wagering online and at 60 racecourses in the UK.
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