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Betfred, the online and land-based sports betting operator, recently declared to end all their commercial associations with British Racing, once their deal to sports betting pool services expire, which is due in July 2018.
As per the reports of The Racing Post, the announcement was followed by the constantly failing relationship between the two, which was caused because of the decision to form an exclusive pools system after ending the Betfred Tote Pool service.
The racecourse betting market will now open to the other operators, after the current deal with Betfred expires in July 2018, marking an end to Totes’ 90-year monopoly.
The Co-founder of Betfred, Fred Done, said that they would fulfil all the promises from the following year. “We will not go back on anything or dodge anything or get out of contracts.”
Out of the 51 racecourse betting shops, only Ascot and Chelmsford would be the two exceptions to not close. Betfred owns the two racecourses at present that host one of the largest and most prestigious races in the world.
With the withdrawal of Betfred, the UK racecourses would suffer a loss of £6m in sponsorship.