Horse racing in Great Britain On 6 October 2001, the Government abolished the turnover-based tax on betting, which had been 9% of the stake or the winnings, the punter having the choice to pay a certain small amount or an uncertain large amount. The tax, now based on gross profit, is now effectively indirectly levied on the punters, the cost being absorbed in the odds that bookmakers offer. The last 10 years in the UK has seen massive growth in online gambling. Punters are now going online to place their bets, where technology gives them access to a greater wealth of information and knowledge. Now
Tote betting Tote betting The Tote is a bookmaker in Britain which offers parimutuel betting on British horse racing in Britain. Until July 2018 the Tote was the only bookmaker in Britain allowed to offer parimutuel betting on horse racing, although as of July 13th 2018 the existing monopoly protection the Tote ceased, and a number of other tote or parimutuel suppliers entered the British market. Other bookmakers offer a Tote service through syndication, while other bookmakers will accept a Tote bet and pay out on exactly the same terms as the Tote. The pooled bets offered by The UK Tote are: