Tote Group Inks Tote Ireland Deal
April 30, 2020
The United Kingdom based bookmaker, UK Tote Group, is highly respected in the country, having recently purchased long running bookmaker UK Tote. The group is known for is its firm, unflinching focus on the global horseracing industry.
UK Tote Group recently announced a significant 7 year partnership, in which they will be joining forces with Tote Ireland, according to a recently released statement. Together the two companies will be combining their resources, and hopefully improving their presence in the local competitive online sportsbook and casino industry.
As it stands, from January 1st Irish racing pools are set to see major benefits from increased liquidity. This, as well as the new alliance, should help Tote Ireland maintain its position as a sustainable business, with its primary goal to return profits to the local Irish racing industry.
Details Of The Partnership
The specifics of the 7 year partnership state that the UK Tote Group will take control of its Irish counterpart’s business outside of racing. The intention is that the Irish company can then focus its attention on keeping a strong presence in racing itself, with less time having to be dedicated to off-course affairs. Hopes are that the Tote Ireland can create a stronger foundation in both country, and therefore effectively maintain a more effective position in the online sports betting market.
Additionally it was stated that the two companies will be pooling their resources nationally in terms of promotion and marketing. Both organisations will be sharing marketing responsibility in their respective regions, drastically increasing their respective advertising range, and offering significant benefit to both parties involved.
The plan is a bold one with major potential, should it be prove to be effective. But as far as Horse Racing Ireland (HRI) is concerned, it is certainly the right move to make. HRI chairman Nicky Hartery spoke on behalf of the organisation, heaping praise on the two entities for taking bold initiative.
Hartery stated that the alliance was one that put a progressive future above all else, allowing the tradition of Tote betting to exist in an increasingly changing and evolving online sports betting market. Hartery continued by suggesting that now, more than ever, Irish racing was becoming attractive to international operators, and that the alliance ensured maximum turnover for any parties that decided to get involved.
Changing Punter Habits
HRI chief executive Brian Kavanagh had a few words of his own. He first praised Tote Ireland for having an excellent relationship with horseracing in general, stressing that the bookmaker’s support and sponsorship of events had gone a long way. However, Kavanagh stressed that punter habits were evolving, both in the online sports betting and casino industries as a whole.
The situation had also been drastically worsened by the world health crisis, he added, which resulted in the temporary closing of virtually all horseracing events around the world.
But Kavanagh quickly elaborated that digital expansion was the key to the future, and that the new alliance was exactly what was needed to ensure that the future was sustainable. He confirmed that two major betting markets, such as the UK and Ireland, needed to be under a single umbrella, which was the sort of appeal that made an increasingly digital market more manageable.
In other words; the alliance was the best way to compete with the best brands in the UK, and come out a winner.
Alex Frost, UK Tote Group chief executive, added his own thoughts. He committed to not only ensuring that horseracing had a bright future across the globe, but also to finding new ways of presenting racing to an evolving sports betting market.
What innovative methods he comes up with remains to be seen.