Towcester have revealed they are partnering up with the UK Tote Group to unveil a unique low deduction model that could revolutionise betting on greyhound racing.
At present, fixed odds betting on greyhound racing in Britain is returned to ‘industry prices’. The shift from betting shows formed at the racetrack came following the ban on spectators and on-course bookies due to the COVID outbreak, and are returned to odds in the region of a 127-130% book.
The bold plan is for 10% deductions on all bets, including ‘the exotics’: forecasts, tricasts etc. However, for the Greyhound Derby, and all the Tote sponsored events, there will be a maximum deduction of just 5%
These low-level deductions are unprecedented and are designed to attract global tote liquidity as well as changing the habits of regular greyhound punters.
Behind the scenes, work is already underway in setting up the required technology to enable the new service to go live this summer.
Once live, it will be in operation for every meeting from Towcester and will encompass the most lucrative set of open race competitions ever put together (see below)
No date has been announced for the launch though it is hoped to coincide with the Star Sports English Greyhound Derby.
For greyhound owners and trainers, the other big news is the addition of four new Tote-sponsored Category One competitions. Each worth £12,500 to the winner and to commence immediately after the Derby.
Towcester spokesman Nathan Corden said: “We will be working closely with the Open Race Planning Committee to determine what events will be the best fit into the existing calendar.
“We have another couple of potential sponsored events lined up too, so there will need to be some flexibility in our thinking. But whatever form these events take, I am sure they will come as a tremendous fillip for owners and trainers after a tough year.
“I am so excited about the whole project. You get the impression when talking to the Tote that they don’t just care about the greyhound racing but also the people that want to bet on it.
“I’m sure when the crowds do return, the atmosphere will be enhanced so much. With a 10% maximum deduction on all bets, far more people will have winning nights. That can only encourage them to keep coming back.”
Towcester promoter Kevin Boothby was understandably jubilant about the Tote tie-in.
He said: “I am absolutely thrilled! I love open racing and these four Category One events will be in addition to those we were already planning.
“I must pay credit to the part that Nathan has played in this. He has only just started looking for open race sponsors and there will be many more to come. As for The Tote, they have been a dream to work with. The idea of evening up the chances for the punter is an absolute no-brainer for me.
“This is a win/win for punters and greyhound people. I have always wanted to set up a programme for top quality open racing every Saturday and it doesn’t get better than this.”