One of the UK's leading horse racing tracks Ascot Racecourse has confirmed plans to launch its own on-course betting service next year under the AscotBet brand.

Ascot Racecourse has signed a five-year deal with Betfred to deliver its own betting service under AscotBet, which will be supported by the existing Totepool systems, infrastructure and liquidity. The new pool betting offering will be rolled out once the operator's exclusive licence to run pool betting in the UK expires in July 2018.

The end of the statutory monopoly, which has been in place for nearly 90 years, will see racecourses become responsible for deciding on the management of their on-course operations.

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