Tote turnover reflects UK gambling boom
By dave
BRITAIN'S gambling boom has sent sales at the Tote rising by almost half to £916m, ahead of next year's expected privatisation of the 75-year-old bookmaker.

Telephone betting turnover rose 51% to £198m while its 435 High Street shops enjoyed a 50% gain. For the first time, off course turnover through shops was worth more than that at Britain's 59 racecourses.

Growth has been fuelled by the abolition of tax on punters and new fixed-odds betting terminals in shops. Traditional pool betting rose 16% to £221m.

However, margins were under pressure during the year to 20 March and the Tote's gross profit rose only 15% to £97m.

Chairman Peter Jones said profits had been squeezed by a high number of winning favourites, including nine outright market leaders at the Cheltenham Festival just before the financial year-end.

 
 
 
 
 
Online Casino News.com provides online gamblers with information on online casino gambling, sports betting tips, wining casino tips, internet casino reviews, sports odds, matchups, results, editorial and much, much more… We also have an industry insider’s section including Internet gaming press releases, a calendar of events and gaming industry news.
Bluff Europe: Europe's leading Poker Magazine brings you the latest Poker News, Player Interviews and all the best Online Poker offers Poker in the Park: Europe's largest Poker Festival.