betfred-is-the-winning-bidder-for-the-tote

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Betfred is the winning bidder for the Tote
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3 June 2011
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UK-based bookie Betfred has actually been selected to buy the Tote after an auction procedure that began in November.
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BBC service editor Robert Peston said Culture Secretary Jeremy Hunt had actually chosen Betfred although the deal had actually not been finished, with some technicalities still being arranged out.

The price is not yet understood however Betfred is thought to have bid about ₤ 200m.

Half of the fee will go to the racing market and racing charities, and the majority of the rest will go to the government.

The racing industry might be disappointed, since it was comprehended to have chosen the competing bid from SIP, a consortium led by British Airways chairman Martin Broughton.
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Successive governments have actually been trying to privatise the Tote for about 14 years, but have actually never come this promotion code near doing so.

the yohaig code government is hoping that the bet9ja's welcome offer will not fall nasty of EU state help guidelines or be reversed by a judicial review.

Jockey opposition

The Tote was set up 83 years ago to bet9ja's welcome offer a safe house for punters, controlled by the state, and beyond the reach of prohibited bookies.

It delights in a monopoly of horse race pool-betting in exchange for a guarantee that money was pumped back into the sport.

the yohaig code Tote is based in Wigan, with more than 4,000 personnel, and currently injects half its revenues into racing.
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In 2015, Chancellor George Osborne assured to secure value for taxpayers while acknowledging the support the Tote offered to the industry.

The Tote provided almost ₤ 19m to horse racing in 2010.

Efforts over the previous 3 years to sell the yohaig code Tote struck problems, and the 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 .

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