News from the Tote - August 2021
Welcome to the August update from the Tote about our latest developments.
This month we’re focusing on the ongoing progress of World Pool.
As ever we are very grateful to the team at the ROA for sharing these updates on our behalf.
If you have any further questions, or areas you would like to discuss with us in more detail, please email our Communications and Corporate Affairs Director, Susannah Gill, on firstname.lastname@example.org.
World Pool days in 2021
Last month we had the welcome news that World Pool is continuing its expansion. Along with the 16 World Pool events on British racedays, the Longines Irish Champion Stakes Day at Leopardstown Racecourse on Saturday 11th September will be part of World Pool for the first time. This means, British and Irish racing is hosting 17 World Pool events on British racedays for 2021:
- QIPCO 2000 Guineas Day – Newmarket Rowley Mile Racecourse, Saturday 1st May
- Cazoo Derby Day – Epsom Downs Racecourse, Saturday 5th June
- Five days of Royal Ascot – Ascot Racecourse, Tuesday 15th to Saturday 19th June
- Coral-Eclipse Day – Sandown Park Racecourse, Saturday 3rd July
- QIPCO King George Diamond Day – Ascot Racecourse, Saturday 24th July
- The first three days of the Qatar Goodwood Festival - Goodwood Racecourse, Tuesday 27th July to Thursday 29th July
- Dubai Duty Free Shergar Cup Day – Ascot Racecourse, Saturday 7th August
- The first three days of the Welcome to Yorkshire Ebor Festival – York Racecourse, Wednesday 18th to Friday 20th August
- Longines Irish Champion Stakes Day – Leopardstown Racecourse, Saturday 11th September
- QIPCO British Champions Day – Ascot Racecourse, Saturday 16th October
Alongside the vastly increased pool liquidity, Tote Guarantee (where the Tote will always match or exceed the industry’s SP), and Tote+ (where the Tote offers a 10% enhancement to all bets placed on the website or App) ensure that customers are receiving exceptional value from the Tote. In addition, the pool model being agnostic about outcomes means winning customers are never restricted at the Tote.
There were some more strong proof points for World Pool from the Qatar Goodwood Festival:
- 17 of the 22 winners were bigger on the Tote than with bookmakers, and the Tote matched on the remaining five. This meant Tote customers were £34.63 better off with Tote+ to a £1 stake on every winner, which is 14.2% better than the SP. For example, backers of Alcohol Free in the Qatar Sussex Stakes were paid out at 5.39 compared to the SP of 7/2;
- 6 of the 22 winners were “overbroke” markets with betting to less than 100%, compared to an average overround of 15% with the bookmakers; and
- Over £2 million was bet on every race compared to a typically five-figure sum in 2019. This means that, of the 12 World Pool events on British racing, this year’s volumes have exceeded £250 million.
Finally, we wanted to share an interview in Thoroughbred Daily News with Winfried Engelbrecht-Bresges, the Chief Executive of the Hong Kong Jockey Club, where he talks about his ambitions for World Pool – this can be read here. The interview highlights how the Tote is at the heart of his global vision for World Pool. A few of the key comments from Winfried are copied below:
“I think that this has an overall benefit to the industry with Covid as there is a significant challenge regarding income. It combines the customers’ interest with generating income especially for the countries [involved]. In British racing, the range is between £600,000 and £800,000 generated per meeting to go to the racecourse, and that does back to sustaining the operations and to prize money. There are not many sponsors who pay you that much, so this is a real boost for the industry.”
“We have the same philosophy regarding international racing, so that’s a tradition we have had for over 20 years. Then we have a strategic relationship with the UK Tote where we have developed commingling, which is practically a globalisation of Hong Kong racing. Now, 20% of our income comes from streaming our races globally and having a strategic partner like the UK Tote.
“I believe in global racing. I believe racing has to go to the next step of globalisation, and naturally therefore key strategic partners have to work together. They have to have the same vision and to look at how we want to develop this. I think we have built a terrific platform and the next step is looking at how we can expand it. I am passionate about the World Pool and I fully believe it is a major way forward in the globalisation of racing.”
We now look ahead to World Pool at York for the first three days of the Welcome to Yorkshire Ebor Festival.