British Racing Set to Receive a Boost From Singapore Tote
Author:
Roy Brindley
The UK Tote Group and Singapore Pools have signed an agreement to commingle betting pools. The new arrangement sees both organizations combine liquidity, with customers of Singapore Pools betting into the UK Tote’s pools on British race meetings.
The Tote board at Singapore’s Kranji Racecourse will soon be redundant – but locals can bet into UK Tote pools. ?Getty
Agreements of this type produce bigger UK pools, ensuring a better customer experience for racing fans in the UK and, in this case, Singapore punters. They also produce improved financial returns for the sport. The new arrangement was made in partnership with Arena Racing Company and Racecourse Media Group – the media rights holders for British racing’s 59 racecourses.
An Elevated Racing Experience for All
Singapore Pools – owned by Tote Board, a statutory board under Singapore’s Ministry of Finance – have been longstanding partners of British racing, hosting local pools on the sport. A joint press release declares: “This collaboration between these stakeholders further deepens the relationship, benefiting racing fans and the sport.”
Within the document, Simon Leong, Chief Product Officer of Singapore Pools, expressed his enthusiasm for the new commingling arrangement with the UK Tote. He said, “We are delighted to collaborate with the UK Tote on this new front, which not only provides our customers access to larger pools but also contributes to British horseracing, which has been telecasted in Singapore since 2010.”
“We deeply appreciate our longstanding partnership with British racing and look forward to further strengthening the communal horseracing ties shared between us. Singapore Pools will continue to bring quality products from around the world to Singapore and elevate the racing experience for all.”
The Benefit of Greater Liquidity for All
Jon Knapman, International Chief Commercial Officer of the burgeoning UK Tote Group, added: “This is a really positive development, and we’re pleased to have the opportunity to collaborate with colleagues at Singapore Pools to ensure bigger pools for all our customers.”
“We will continue to cooperate and commingle with our international pool betting partners to ensure bigger, more unified pools on our racing. We’d like to thank all involved who contributed to this new agreement.”
Nick Mills, Chief Commercial Officer of the third party with a vested interest, Racecourse Media Group, added: “Singapore Pools have been a longstanding partner of British and Irish racing, having hosted local pools for over 15 years.”
“This is a great example of British racing working together, and we are delighted to work with all parties to facilitate commingling into the UK Tote Group and, therefore, provide greater liquidity, which will see benefits to all.”
The UK Tote Is on the Ascent
The UK Tote, whose brand ambassadors include Tom Marquand, was established and owned by the UK Government until July 2011, when it was sold to the Betfred brand for ￡265 million. Following some asset stripping, it was sold to UK Tote Group – a consortium of over 150 individual investors involved in the sport as racehorse owners and breeders – in October 2019 for ￡115 million.
Placepot pool guarantees have been a welcome addition to the UK Tote’s offering. ?Getty
Since then, the UK Tote Group agreed on a seven-year strategic alliance with Tote Ireland.[1] It also became a founding member of the newly created World Tote Association – alongside 20 other Tote operators from around the world. In June 2023, the Tote agreed on a five-year deal with the Hong Kong Jockey Club to be the exclusive partner for World Pool in the UK and Ireland.[2]
Although relative turnover is far short of that the Tote enjoyed during its halcyon days during the final decades of the 1900s, tote pools – aided by relatively new initiatives such as ‘Tote Guarantee’ (which means win bets will always at least match official starting prices) and ‘Guaranteed Placepot’ pools – are enjoying significant growth.
Will Singapore Punters Be Open All Hours?
The popularity and potential of British horse racing with Singapore gamblers is unclear. As the only legal lottery and sports betting operator in Singapore, Singapore Pools exclusively offered lottery games until 1999, when betting on football and motor racing was permitted.[3] Betting on horse racing was introduced in January 2019.
The operator boasts over 90 Singapore Pools branches and an additional 200-plus authorised retailers (many of which are 7-Eleven stores). However, a time difference of seven or eight hours means it is late at night when the British racing normally begins, and these outlets are closed.
Kranji Racecourse, Singapore, in 1999. pic.twitter.com/TRIJwQAETt
— Sports & Betting History by BestBettingSites (@CDCHistory) September 10, 2023
Singapore Pools also comingles pools with New South Wales in Australia and the Hong Kong Jockey Club. Geographically much closer, race times in these countries align with daily life in the small island country and city-state, with an estimated six million population.
Kranji Closure Is a Blow for Fans
The popularity of horse racing per se is waning in Singapore. In June 2023, it was announced that the country’s only racecourse, Kranji, would stage its final meeting on October 5, 2024.[4] The venue, which sits on 120 hectares of land, will be returned to the Singapore Government in 2027. It is earmarked for new housing.
Before the announcement, 550 races were held every year at the course, with the Singapore Tote Board – which manages the Turf Club – having a betting turnover of S$400,000 ($234,200) per race. It was far short of the S$1.5 million (￡878,350) per race wagered in 2000 when the races first moved to Kranji from Bukit Timah Racecourse, which operated between 1933 and 1999.
When the news broke, The Business Times, a Singaporean financial newspaper, reported the track’s average attendance per race day had declined from 11,000 in 2010 to about 6,000 in 2019. After the reopening of the racecourse in 2022, following an extended closure due to the COVID-19 pandemic, the average attendance was about 2,600 per race day.
- HRI Board approve significant alliance between Tote Ireland and UK Tote Group, (April 28, 2020), UK Tote Group, Retrieved on April 30, 2024.
- UK Tote Group and Hong Kong Jockey Club sign landmark five-year agreement (June 19, 2023), UK Tote Group, Retrieved on May 1, 2024.
- Singapore Pools products and rules?(November 21, 2023), Singapore Pools Lts, Retrieved on May 1, 2024.
- Horseracing fraternity overwhelmed by news of Kranji Racecourse closure (June 5, 2023), Business Times, Retrieved on May 2, 2024.
