Pool betting operation Britbet faces uncertain future
EGR understands the racecourse-run rival to the Tote is facing internal conflict over its strategy
Britbet, the pool betting operation set up by 50+ race tracks to rival the Tote, is faced with internal conflict and faces an uncertain future, EGR understands.
According to sources close to the situation, the company has made uncomfortable partners of track owners The Jockey Club and Arena Racing who have clashed in the past over issues like streaming rights and picture distribution.
The racecourse owners had initially come together to set up britbet as a rival to the Betfred-run Tote, in an effort to increase returns to racing.
However, following the sale of the tote from Betfred to the Alizeti consortium, returns to racing are set to rise regardless, and sources claim cracks are beginning to show in the relationship.
Arena Racing, led by Martin Cruddace, is threatening to veto certain contracts that would see britbet become a fully-fledged betting operator come 13 July, in a bid to force the tracks into a partnership with Alizeti.
A single, rather than split, pool of liquidity would help generate the big jackpots that are seen as vital to the success of the tote.
Should britbet fold, the tracks involved may opt to leave their on-course kiosks and betting systems in place, which would feed into the existing tote now controlled by Alizeti.
Britbet declined to comment on the situation other than to say “conversations with various stakeholders were ongoing”.
An Alizeti spokesperson had yet to respond to an EGR request for comment at the time of publication.
A potential britbet collapse will also impact Colossus Bets, which was contracted to provide the technology for the venture.
CEO Bernard Marantelli told EGR Colossus would launch racing pools regardless on 13th July – when Betfred’s exclusive pool betting licence ends – and the firm has several online and international partners lined up to go live.