OFT reviews Tote deal

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The watchdog is weighing up whether the deal - creating an enlarged group of 1350 stores - will result in a "substantial lessening of competition" which needs to be referred to the Competition Commission.

Betfred won the race for the Tote in June, seeing off a rival offer from a consortium led by Sir Martin Broughton.

Chairman Fred Done - who had been looking to buy the Tote for years - agreed to pay £150 million up front and a further £115 million over the length of a seven-year licence to operate pools betting on UK racecourses.

Betfred is also taking on the Tote's debt of £60 million and putting £25 million into its pension fund.

The Tote was set up in 1928 as a safe state-owned alternative to illegal bookies at racecourses, and opened its first betting shop in 1972.

Politicians had mooted the privatisation of the business for more than 20 years and a sale process was launched in 2008, before the financial crisis intervened. The Coalition revived the sale plans last year.