Further to the recent levy reform announced in late April, Totepool regrets to announce that this has had an unexpected and unwelcome effect on its pool betting operation at racecourses.

Since the inception of the tote in 1929, racecourse pool stakes have always been exempt from levy payments (apart from a very brief period in the 60’s), with racing remunerated through a combination of rentals and racing contributions.

Understandably current commercial contracts do not allow recovery of these new levy payments, which could not have been contemplated by the long standing situation which prevailed for over eighty years, and as a consequence Totepool finds itself staring at a significant shortfall on an already loss making business through no fault of its own. There is also an element of perversity in a situation that sees racecourses being paid twice, directly and indirectly for the provision of tote betting.

Regrettably we will shortly be forced to raise pool deductions to cover these levy losses, although we have worked hard to mitigate increases and to limit them where possible.

The following pool rates will take effect from 29th June 2017:

Win Pool 19.25% from (16.50%)
Place Pool 20.00% from (18.00%)

All other pools remain unchanged.

(12th June 2017)