Tote Update for December
This month we’re focusing on the roll out of Tote Guarantee on racecourses, Tote Ten to Follow and looking ahead to 2022.
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 [email protected].
Tote Guarantee on Racecourses
What is Tote Guarantee?
Tote Guarantee is an enhancement to the dividend which ensures the Tote Win price will always match the industry Starting Price (SP) or exceed it if the pool price is bigger. Where the Tote Win price is higher than SP the customer will be paid the higher price. With Tote Guarantee in place racegoers can have the confidence to bet on any horse with the Tote and get the best price guaranteed on Win bets every time when they bet on a racecourse or at tote.co.uk.
What impact is Tote Guarantee having on Tote betting on racecourses?
Tote Guarantee was introduced on racecourses on Monday 8th November.
The initial feedback from the first five weeks of data is very encouraging. Since the introduction of Tote Guarantee oncourse Win turnover has grown by an average of 30% each week, compared to 2019 data, as illustrated below:
On the bigger racedays, the increase in Win turnover has been greater, including a 53% increase at Ladbrokes Trophy Chase Day at Newbury on Saturday 27th November and a 66% increase at the sold-out Betfair Tingle Creek Day at Sandown on Saturday 4th December.
As well as Win bets, there has been an overall increase in turnover on all bets of 15%, illustrating a potential ‘halo effect’ from Tote Guarantee which is leading to an increase in turnover across all Tote bets.
Equally positively, Tote Guarantee is generating growth in larger bets placed with the Tote on racecourses now that customers have confidence in knowing they will never receive less than SP and that, on average, the Tote Win price beats SP 30% of the time. Bets of £100 or more with the Tote on racecourses have more than doubled overall in the first five weeks.
What happens next with Tote Guarantee?
We will continue to work hard with britbet and racecourses to promote Tote Guarantee during this three-month trial period. If you’re on racecourses over Christmas please place your bets with the Tote and make the most of Tote Guarantee!
Tote Ten to Follow for the 2021/22 Jumps Season
For those of you playing Ten to Follow for the Jumps season, you are amongst nearly 29,000 stables in the paid league and nearly 5,000 in the free to play league. The winner will take home £39,150 at the end of the season, with prizes down to 500th place and monthly winners throughout the season receiving £3,813.
Looking ahead to 2022
In 2021 we grew the UK pool by over 40% with innovations including Tote+ and Tote Guarantee. The Tote’s international business grew in profit by 25% and, now in its third year, World Pool has a customer-facing brand and is going from strength to strength. The tangible benefits of World Pool are being recognised, as reflected on by Nick Smith, Director of Racing and Communications at Ascot Racecourse, in the Racing Post in October: “In terms of the revenues that we can draw on from within the betting arena, it has been the most significant change in the landscape for decades.”
Over the next year, our focus will be on continuing to grow recreational liquidity with product innovation and better value for every customer betting with the Tote; continuing to improve the customer experience, including ensuring the Tote is a safe place to bet; and forming more international partnerships, as well as developing our existing ones.
As a customer of the Tote I hope you will see clear and continual improvement in the Tote.
A very happy Christmas to you all from the Tote team and we hope you have a successful 2022.