British Race Wagering

Horse racing in the United Kingdom is a popular activity, with tracks throughout the country. There are three types of racing in the U.K.: flat racing (any type of horse race over unobstructed ground); jump racing, which involves obstacles; and point-to-point racing, which is a more amateur form of the steeplechase.

Race wagering in the U.K. was overseen by many different boards, councils and committees before passage of the Gambling Act 2005. Currently, racing is regulated by the Gambling Commission, the British Horseracing Authority and local regulators.

The Tote was sold to Betfred for £265 million in 2011 and subsequently passed to the U.K. Tote Group, owned by a consortium of racecourses and investors.

In November 2008, bookmakers agreed to pay 10% of their gross profits to the horse racing industry in exchange for adding 100 extra races per year.