Betfred set to sell off a quarter of its stake in The Tote?

Betfred founder Fred Don’s rocky relationship with British racing, which has prompted plans by interested parties to form their own betting pool when Betfred’s seven-year agreement on The Tote expires, is probably one of the reasons behind weekend reports that Betfred is seriously considering a GBP 30 million offer to buy a 25 percent stake in The Tote.

Betfred has held the exclusive rights to offer Tote wagers on UK races since 2011, but the success of the project has been hampered by a reportedly poor relationship between UK racing and Done.

The offer to buy a chunk of The Tote’s action comes from a racing industry consortium led by former Total Performance Data chairman and board member of the British Horse Racing Association, Eamon Wilmott, according to Sky News reports.

The consortium apparently has ambitious multi-million pound marketing plans for The Tote, should it be successful in acquiring a stake in the enterprise…and an improved relationship with racing may be a beneficial side-effect.

Related and similar