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Betfred is the winning bidder for the Tote
bit.ly
3 June 2011
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UK-based bookie Betfred has been chosen to purchase the Tote after an auction process that started in November.

BBC organization editor Robert Peston said Culture Secretary Jeremy Hunt had actually chosen Betfred although the offer had not been finished, with some technicalities still being figured out.
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The price is not yet understood however Betfred is believed to have bid about ₤ 200m.

Half of the cost will go to the and racing charities, and the majority of the yohaig code rest will go to the federal government.

The racing industry might be disappointed, due to the fact that it was understood to have chosen the rival bid from SIP, a consortium led by British Airways chairman Martin Broughton.

Successive federal governments have actually been attempting to privatise the Tote for about 14 years, but have never come this promotion code near to doing so.

The government is hoping that the deal will not fall nasty of EU state aid rules or be overturned by a judicial review.

Jockey opposition

The Tote was set up 83 years ago to bet9ja's welcome offer a safe sanctuary for punters, managed by the state, and beyond the reach of prohibited bookies.

It enjoys a monopoly of horse race pool-betting in exchange for a guarantee that cash was pumped back into the sport.

The Tote is based in Wigan, with more than 4,000 staff, and currently injects half its revenues into racing.
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Last year, Chancellor George Osborne promised to secure value for taxpayers while acknowledging the support the Tote offered to the industry.

The Tote offered practically ₤ 19m to horse racing in 2010.

Efforts over the previous 3 years to sell the Tote struck issues, and the federal government faces getting a lower price than the ₤ 400m mooted in 2007.
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The Jockey Club opposes the sale and desires the Tote to remain independent.

the yohaig code Tote has 517 High Street betting stores and the monopoly to run swimming pool betting online and at 60 racecourses in the UK.
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