Betfred is the winning bidder for the Tote

3 June 2011

UK-based bookmaker Betfred has been chosen to purchase the Tote after an auction process that began in November.
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BBC business editor Robert Peston said Culture Secretary Jeremy Hunt had selected Betfred although the offer had actually not been finished, with some technicalities still being sorted out.

The cost is not yet understood however Betfred is thought to have bid about ₤ 200m.
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Half of the cost will go to the racing industry and racing charities, and the majority of the rest will go to the federal government.
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the yohaig code racing market might be dissatisfied, because it was understood to have chosen the rival quote from SIP, a consortium led by British Airways chairman Martin Broughton.
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Successive federal governments have actually been trying to privatise the Tote for about 14 years, but have actually never come this promotion code near doing so.
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The government is hoping that the deal will not fall foul of EU state help guidelines or be overturned by a judicial evaluation.

Jockey opposition
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The Tote was set up 83 years ago to bet9ja's welcome offer a safe haven for punters, by the yohaig code state, and beyond the reach of illegal bookies.

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

The Tote is based in Wigan, with more than 4,000 personnel, and currently injects half its earnings into racing.
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Last year, Chancellor George Osborne promised to protect worth for taxpayers while recognising the support the Tote offered to the market.

The Tote provided almost ₤ 19m to horse racing in 2010.
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Efforts over the past 3 years to sell off the Tote hit problems, and the government faces getting a lower rate than the ₤ 400m mooted in 2007.
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The Jockey Club opposes the sale and wants the Tote to stay independent.

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