UK Tote and Hong Kong Jockey Club sign landmark five-year deal
Today, the UK Tote Group and Hong Kong Jockey Club (HKJC) announce a significant new five-year agreement which will enable them to further integrate their relationship until at least the end of 2028.
The new terms will enable the UK Tote Group and HKJC to continue to build on the existing collaborative partnership which has developed significantly since the purchase of the Tote by UK Tote Group in October 2019.
One of the major successes to date has been the development and continued growth of World Pool. This is now in its fifth year, with 28 pool betting operators from around the globe commingling into a single pool operated by the HKJC for 25 high profile race meetings, including 18 in the UK and Ireland. World Pool results in enormous liquidity and a multi-million pound betting experience and better value for racing fans.
The new agreement between the parties sees the UK Tote become the exclusive pool partner for World Pool in the UK and Ireland. This will ensure collaboration on exciting developments, including new bet types and further improvements to the customer experience. World Pool is generating new funds and significant financial returns for British and Irish racing via media rights payments for participating racecourses. These funds are being used to invest into prize money to support British racing’s feature meetings. The funds generated by World Pool can be expected to accelerate as World Pool grows in future years.
In 2023 there will be 25 World Pool days, including 18 in Great Britain and Ireland between May and October, offering over £31 million in prize money. Last year, World Pool saw record global turnover of £650 million, with £521 million bet on the British and Irish race days, an increase of 44% on the previous year.
With deepening collaboration between the UK Tote and the HKJC, Tote customers in the UK and Ireland, via tote.co.uk and tote.ie plus the Tote Apps, will continue to enjoy betting into multi-million pound pools on top class racing from Hong Kong’s two racecourses, Happy Valley and Sha Tin, including FWD Champions Day in April and the LONGINES Hong Kong International races in December.
Winfried Engelbrecht-Bresges, Chief Executive Officer of the Hong Kong Jockey Club said: “The UK Tote is our principal commingling partner, and we are very pleased to be extending our relationship for the next five years with this new agreement. The UK Tote has been instrumental in the growth of World Pool over the last four years and this new agreement underpins our very valued partnership. We look forward to continuing to work with John Williamson, Alex Frost and the whole Tote team to build on the strong platform we have created to develop the pool betting experience for racing fans around the world.”
John Williamson, Chairman of UK Tote Group said: “This is a very significant moment for the UK Tote, and for British and Irish horseracing, as we continue to develop and extend our partnership with the Hong Kong Jockey Club. This new agreement enables us to accelerate our plans to grow World Pool which is proving an increasingly important revenue stream for the sport. As our partnership continues to go from strength to strength, we will continue to showcase Hong Kong’s world-class racing to a global audience, while collaborating around technology advancements and innovation, including new bet types to ensure we are collectively providing as compelling pool betting experience as possible for our customers.
“I would like to extend my sincere thanks to Winfried and his outstanding team at the Hong Kong Jockey Club. By signing this agreement with them, we want the UK Tote to be true to its founding principles of being on the side of both horseracing and the customers, through collaboration with our international racing and pool betting partners.”
Please visit https://worldpool.hkjc.com/ for full details about World Pool and follow @WorldPool on Twitter for all the latest news.