The Tote or "Horserace Totalisor Board," who at present are trading as Totesport is a British bookmaker that has its head offices in Wigan. It was owned & operated from 1928 to July 2011, by the British government, until its £265m sale to Betfred.
Tote was started by Winston Churchill as a statutory corporation under the Racecourse Betting Act 1928 as The Racehorse Betting control Board. His reasons for doing so were to produce a state owned, & maintained substitute to criminal bookmaking. It also meant that any returns from the bets was put back in to the sport, & also the state reaped the benefit of the revenue . After it is production, the bookmaker took to its first ever meeting offering Tote bets at Carlisle & Newmarket in July of 1929.
The board was reconstituted as the Horserace Totalisor Board under the Betting Levy Act 1961; this meant the board was liable for redistribution of money to racing shifted to the Horserace Betting Levy board.
Tote sustained through the years & went on to open it is primary betting shop on the United Kingdom high street in the year of 1972. It then went on to generate jobs for & employ over four,000 people. In 1992 Tote Direct was formed which intended to channel tote bets from other bookmakers in to what became known as a tote pool. Now, some 7,000 betting shops in the United Kingdom get tote style bets.
As bookmaking grew in level of popularity, the state control of the tote became a problematic matter. This led to a 1989 conservative government recommending the tote was to be sold & privatized. This was met with fierce oppositional views by the racing community & these designs were dumped in 1995.
The 1997 general election saw the then home secretary Michael Howard succeeded by Jack Straw, who released a fresh study in to the potential privatization of the tote. By 2001, the privatization was made a dedication in their manifesto. In order for a sale to be feasible a new act known as the Horserace Betting & Olympic Lottery Act 2004 was approved, this was solely to enable the Tote to be converted to a limited company from a statutory corporation.
Gordon Brown, Chancellor of the Exchequer in 2006 published further designs for the privatization in the budget of that year. The government invited a racing consortium & Tote Staff to formally bid for the Tote by a deadline of 26th January 2007. The bid was submitted & discarded by the Department for Culture, Media & Sport as the Tote was backed by private equity. In 2008, the government reported the Tote would be sold on the open market. On the 12 of October 2009, Gordon Brown reported several publicly owned assets would be sold, including the Tote, however no progress was made on this, & Gordon Brown lost the election & a brand new coalition government was formed.
The new government initiated a challenging bidding method with a mentioned 18 bidders. The government publicly announced on the 31st of January 2011 that a shortlist had been formed. In May 2011, it was confirmed only bidders remained Sports Invest Partners & Betfred. On the 3rd of June 2011 it was confirmed that Betfred had been selected by Culture Secretary Jeremy hunt as the victorious bidder, for a reported sale figure of £265 million. The method was done & the sale finalized as of 13th July 2011.
Betfred, a very well favoured UK bookmaker produced by Fred Done aka "The Bonus King" popular for liberal free bets & offers, have so far not reported any designs to merge the in to model. However for the time being, they are yet to know what the foreseeable future holds for the Tote.
Well, hmmm yeah, me. I am 24, engaged to be married, through choice & not necessity. I own canines & I listen to Michael Jackson sometimes. I make sites for a living & also do ICT repairs. I own a site of my own, Low Risk winner, that lists all the great gambling offers. So you will get from that, I enjoy a lovely bet on sport as & when I can.
By Ryan Sheader
Source:http://ezinearticles.com/?State-Run-and-Owned-Bookmaker-Sold-for-265m,-What-Will-the-Future-Hold?&id=6526164
Tote was started by Winston Churchill as a statutory corporation under the Racecourse Betting Act 1928 as The Racehorse Betting control Board. His reasons for doing so were to produce a state owned, & maintained substitute to criminal bookmaking. It also meant that any returns from the bets was put back in to the sport, & also the state reaped the benefit of the revenue . After it is production, the bookmaker took to its first ever meeting offering Tote bets at Carlisle & Newmarket in July of 1929.
The board was reconstituted as the Horserace Totalisor Board under the Betting Levy Act 1961; this meant the board was liable for redistribution of money to racing shifted to the Horserace Betting Levy board.
Tote sustained through the years & went on to open it is primary betting shop on the United Kingdom high street in the year of 1972. It then went on to generate jobs for & employ over four,000 people. In 1992 Tote Direct was formed which intended to channel tote bets from other bookmakers in to what became known as a tote pool. Now, some 7,000 betting shops in the United Kingdom get tote style bets.
As bookmaking grew in level of popularity, the state control of the tote became a problematic matter. This led to a 1989 conservative government recommending the tote was to be sold & privatized. This was met with fierce oppositional views by the racing community & these designs were dumped in 1995.
The 1997 general election saw the then home secretary Michael Howard succeeded by Jack Straw, who released a fresh study in to the potential privatization of the tote. By 2001, the privatization was made a dedication in their manifesto. In order for a sale to be feasible a new act known as the Horserace Betting & Olympic Lottery Act 2004 was approved, this was solely to enable the Tote to be converted to a limited company from a statutory corporation.
Gordon Brown, Chancellor of the Exchequer in 2006 published further designs for the privatization in the budget of that year. The government invited a racing consortium & Tote Staff to formally bid for the Tote by a deadline of 26th January 2007. The bid was submitted & discarded by the Department for Culture, Media & Sport as the Tote was backed by private equity. In 2008, the government reported the Tote would be sold on the open market. On the 12 of October 2009, Gordon Brown reported several publicly owned assets would be sold, including the Tote, however no progress was made on this, & Gordon Brown lost the election & a brand new coalition government was formed.
The new government initiated a challenging bidding method with a mentioned 18 bidders. The government publicly announced on the 31st of January 2011 that a shortlist had been formed. In May 2011, it was confirmed only bidders remained Sports Invest Partners & Betfred. On the 3rd of June 2011 it was confirmed that Betfred had been selected by Culture Secretary Jeremy hunt as the victorious bidder, for a reported sale figure of £265 million. The method was done & the sale finalized as of 13th July 2011.
Betfred, a very well favoured UK bookmaker produced by Fred Done aka "The Bonus King" popular for liberal free bets & offers, have so far not reported any designs to merge the in to model. However for the time being, they are yet to know what the foreseeable future holds for the Tote.
Well, hmmm yeah, me. I am 24, engaged to be married, through choice & not necessity. I own canines & I listen to Michael Jackson sometimes. I make sites for a living & also do ICT repairs. I own a site of my own, Low Risk winner, that lists all the great gambling offers. So you will get from that, I enjoy a lovely bet on sport as & when I can.
By Ryan Sheader
Source:http://ezinearticles.com/?State-Run-and-Owned-Bookmaker-Sold-for-265m,-What-Will-the-Future-Hold?&id=6526164
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Membuat background warna pada halaman postingan
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