Ascot has announced it will launch its own pool betting operation, called AscotBet, in 2018.

The statutory monopoly over UK pool betting and the current arrangements with Totepool end in July 2018 when racecourses will become responsible for deciding on the management of their on course operations in the newly liberalised market.

AscotBet will then come into action, supported by the systems, infrastructure and liquidity of the Betfred-owned Totepool in a five-year deal.

Guy Henderson, chief executive of Ascot said: “AscotBet’s first priority is to provide the very best service and experience that we can to our 600,000 annual racegoers, 300,000 of whom join us for the five days of Royal Ascot and place around 1.5 million pool bets. AscotBet’s customer service, supported by Totepool’s proven systems, will deliver this.

“In addition, and importantly, we will also continue to provide the UK’s off-course customers with access to the liquidity available on our races through the Tote Direct service, which is offered in the vast majority of the UK’s high street betting shops and through the remote (online etc) channels of the major betting providers.”