The UK Tote’s introduction of fractional betting paves the way for UK punters in Tote Direct shops to bet into TAB pools on South African races.
South African punters already bet into UK Tote pools, but the new deal enables the UK Tote to offer commingling on more bet types including the Trifecta. Fractional betting is offered on the Trifecta in South Africa and the roll-out of fractional betting in the UK now enables Trifecta pools to be commingled.
The agreement marks another exciting development in both PGE and the UK Tote's rapidly expanding overseas business and will provide more opportunities for tote punters in the UK and South Africa to bet into commingled, and therefore bigger, tote pools.
UK betting shop customers will have the opportunity to take a range of bet types into TAB pools in South African, as well as multi-leg exotic bets that are popular in the UK. This new opportunity, part of the UK Tote International Service to bookmakers, is expected to commence later this year.
As always with commingled pools, the rules and takeouts of the host tote will apply. TAB customers should note that the takeout from UK Tote Trifecta and Swinger pools is 26% and 30% respectively, but takeouts from Win and Place pools are much lower at 13.5% and 18% respectively.
One of the success stories of the UK Tote's commercial partnership with PGE has been the launch of the Swinger, a popular bet in South Africa, on UK racing in June 2008.
David Craven, Managing Director of Totepool, said "Phumelela has been a long-term and valued partner of the UK Tote. We are obviously delighted that we have secured the South Africans’ involvement and investment in UK racing and we believe this new deal will have significant benefits for both parties.
"With our technology developing at such a rapid pace, we are able to extend our association with South Africa further than before, commingling on a wider a range of bets and providing a platform to re-launch the totetrifecta. The fact that UK betting shop customers will also be able to access South African pools makes this a win-win deal for punters and bookmakers alike, as well as increasing profits for UK racing."
Phumelela Gold’s Group CEO, Rian du Plessis, said: "We are very pleased with our renewed and expanded agreement with the UK Tote. Going forward our customers will benefit from being able to bet into additional commingled exotics and, importantly, our South African pools will also benefit from the reciprocal betting of the Tote’s customers. It is a win-win for both of us!"