{"id":733,"date":"2024-09-19T09:58:33","date_gmt":"2024-09-19T09:58:33","guid":{"rendered":"http:\/\/buckinghamshire-removals.co.uk\/?p=733"},"modified":"2024-09-19T15:07:33","modified_gmt":"2024-09-19T15:07:33","slug":"colossus-bets-launches-audacious-bid-to-replace-tote-at-uk-racecourses","status":"publish","type":"post","link":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/2024\/09\/19\/colossus-bets-launches-audacious-bid-to-replace-tote-at-uk-racecourses\/","title":{"rendered":"Colossus Bets Launches Audacious Bid to Replace Tote at UK Racecourses"},"content":{"rendered":"
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Colossus approaches courses<\/h2>\n

Colossus Bets will launch a bid to replace Tote as the trackside bookmaker at UK racecourses, according to a report in UK newspaper The Daily Telegraph<\/em>.<\/p>\n

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Several major racecourses have been approached with multi-million pound offers<\/p>\n<\/blockquote>\n

The newspaper claimed that several major racecourses have been approached with multimillion-pound offers to set up a new trackside bookmakers and replace the Tote, which has been the standard operator at UK races for 96 years.<\/p>\n

Colossus, which is owned by secretive Australian businessman Zeljko Ranogajec and former PR executive Bernard Marantelli, was founded in 2013. Ranogajec, who is nicknamed \u201cThe Loch Ness Monster\u201d for his elusive personal appearances, is believed to be a billionaire and likely operates under the alias John Wilson.<\/p>\n

96 years of history<\/h2>\n

The Tote was established by Winston Churchill in 1928 when he was Chancellor of the Exchequer in a bid to provide funding for racing and crack down on illegal betting. Initially owned by the government, it was sold to bookmaker Betfred in 2011 for \u00a3265m ($351m.) <\/p>\n

It is now owned by a consortium of high-profile figures in racing, and pays around \u00a313m ($17.3m) per year to UK racecourses for the right to offer trackside betting services. Additionally, 10% of its profits are donated to the Horserace Betting Levy Board, which contributes significant sums to prize money.<\/p>\n

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Tote runs on a parimutuel betting system, pooling all bets taken on races<\/p>\n<\/blockquote>\n

The Tote runs on a parimutuel betting system, pooling all bets taken on races and dividing the sum among winners, minus a commission. According to The Telegraph<\/em>, Colossus will maintain the same model if successful in its bid.<\/p>\n

The Tote also generates significant revenues from its World Pool, which is run by the Hong Kong Jocket Club. The World Pool, which allows global bettors to contribute to a single pool, often earns between \u00a3500,000 ($663,000) and \u00a3800,000 ($1.06m) for each designated event.<\/p>\n

Courses to decide<\/h2>\n

Ranogajec is likely to face significant opposition in his bid, due to the Tote\u2019s owners largely being made up of breeders, trainers, and other influential figures in the racing world. While the UK\u2019s 59 courses have a variety of owners, the report claims that they will make a united decision on the bid.<\/p>\n

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The current arrangement with the Tote doesn\u2019t really work for a lot of us.\u201d<\/p>\n<\/blockquote>\n

One source from the report who was close to the negotiations stated: \u201cThe current arrangement with the Tote doesn\u2019t really work for a lot of us. There\u2019s potential for Colossus to change that, but we\u2019re miles away from doing a deal.\u201d<\/p>\n

\u201cThey have work to do to prove their credibility. The courses are all talking, but there\u2019s work to do. It\u2019s very politically charged.\u201d<\/p>\n

The Australian businessman was said to have made his fortune playing blackjack and poker in the 1980s before becoming involved in horses. His subsequent success was then in parimutuel betting, where he often negotiated rebates from operators.<\/p>\n

Ranogajec was also at the centre of of a years-long investigation by the Australian Taxation Office, which ended in both parties agreeing to a settlement in 2024.<\/p>\n

The post Colossus Bets Launches Audacious Bid to Replace Tote at UK Racecourses<\/a> appeared first on Vegas Slots Online News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Colossus approaches courses Colossus Bets will launch a bid to replace Tote as the trackside bookmaker at UK racecourses, according to a report in UK newspaper The Daily Telegraph. Several major racecourses have been approached with multi-million pound offers The newspaper claimed that several major […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"_links":{"self":[{"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/733"}],"collection":[{"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=733"}],"version-history":[{"count":1,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/733\/revisions"}],"predecessor-version":[{"id":734,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/733\/revisions\/734"}],"wp:attachment":[{"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=733"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}