The Tote and Britbet are announced as the new sponsors of the Racehorse Owners ‘ Sponsorship Scheme, with the agreement coming into effect on January 1st, 2020.
As confirmed by the Racehorse Owners Association (ROA), all owners included in the Scheme will be shown on their silks bearing the new Tote logo.
Charlie Liverton, ROA’s chief executive, said: “This agreement is fantastic news for racehorse owners, and we extend our gratitude to the new team at the Tote and Britbet and their racecourse partners for coming together to support this important Scheme. We were keen that a new sponsor was from within the racing family and are pleased to be working with Britbet and the Tote as they develop the pool betting experience for racing fans.
“With the number of horses in training remaining under pressure, this is a vital mechanism and the fact that Tote and Britbet have committed to support the Scheme secures its future.”
Founded in 2004, the scheme will enable the 7,900 ROA members to register for VAT purposes as a business, allowing them to reclaim VAT on their racing activities as well as on their horse’s purchase price.
Alex Frost, Chief Executive of the UK Tote Group, added: “We are committed to ensuring the Tote makes a positive contribution to British racing. Owners are absolutely crucial to the future success of the sport and we are delighted to be able to work with our racecourse partners Britbet to support this important scheme.
“We look forward to seeing the new brand across owners’ silks next year while we continue our plans to rejuvenate the Tote.”
Nigel Roddis, Managing Director of Britbet, concluded: “This is a critically important scheme for the whole sport and the racecourses that form the Britbet partnership are pleased to be able to support it. Field sizes are key to betting revenues, so it makes sense for our racecourse partners to provide this support for owners.”