Bodog to buy The Tote?

A story doing the rounds presently is that online gambling operator Bodog may make a play for England's Tote betting agency.

The Horserace Totalisator Board, was formed as an act of Parliament in 1928 by the UK Government. It was thought that offering a state controlled parimutual wagering agency to punters would combat the growing incidence of illegal horse betting at the time. It has come to be known affectionately as The Tote by punters ever since.

Now in an effort to reduce debt, the UK Government has earmarked the Tote as one of the possible public assets up for sale. According to a story yesterday at City AM one of the very interested parties in the sale are Bodog.

It is understood that Bodog Europea, the organization's European franchise, is considering a bid although no statements to that affect have yet been admitted by management.

Joining the dots on recent circumstance, the story certainly has merrit. Keith McDonnell, Bodog Europe's MD, is the former Director of The Tote's online betting arm. And the organizations have recently been in talks regarding an online partnership of some kind. Bodog make no secret of the fact that they want to strengthen their presence in the wagering area and with the possibility of the Tote being up for sale at a never to be repeated type price, a bid is a possibility.

Apparently three years ago Gala Coral offered the Government GBP 405m for the Tote. The price offered this time round will likely be substantially less - unless of course a bidding war starts.

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