UK Tote Group is restructuring its operations around domestic and international horse-racing pools while preparing for a change at the top, with James Coxon set to replace long-serving chief executive Alex Frost.
The company said the strategic overhaul will reduce investment in its direct-to-consumer digital operation and direct more resources toward pool betting, particularly the expanding World Pool network. The decision follows a review of the business and comes as regulatory requirements and higher taxation make digital betting operations increasingly expensive.
Frost, who has led the business for almost nine years, will leave the CEO position at the end of 2026. He will remain involved as an executive director during 2027 before moving to a non-executive position on the board thereafter.
Coxon will take over following a career spanning more than two decades across both business-to-business and consumer-facing gambling operations. His previous positions include senior roles at DraftKings following its acquisition of SBTech, while he most recently served as chief operating officer at Gaming Innovation Group.
World Pool Moves to Centre of Tote Strategy
Under the revised strategy, UK Tote Group intends to strengthen partnerships with the Hong Kong Jockey Club, the British Horseracing Authority, Horseracing Ireland, racecourses, bookmakers and international operators that combine their liquidity through shared betting pools.
World Pool has become an increasingly important part of the company’s business. UK Tote Group said pool betting revenue through World Pool has increased by about 40% during 2026, with further double-digit growth expected in 2027 as the number of World Pool race days expands.
The international pool system was introduced at Royal Ascot in 2019 in partnership with the Hong Kong Jockey Club. It combines bets from participating jurisdictions into larger pools, increasing liquidity for customers while generating additional revenue for racing.
World Pool has generated more than £65 million for British and Irish racecourses since its launch. During the 2025 UK and Irish Flat season, turnover reached a record HK$5.1 billion, up 11.7% from HK$4.6 billion a year earlier.
UK Tote Group is also examining ways to connect products such as the Placepot with major international multi-leg pools, extending the integration of British racing into larger global betting markets.
Digital Investment Reduced as B2B Roles Expand
The restructuring will result in job losses within the company’s digital division, although some of these reductions will be offset by new positions in its B2B operation.
UK Tote Group said its consumer-facing digital business had expanded rapidly but continued to operate at a loss. Increased tax costs and regulatory obligations contributed to the decision to limit further investment and redirect resources toward areas where the company sees stronger long-term growth prospects.
Gaming content will be removed from the Tote’s online offering, but Tote.co.uk and Tote.ie will remain operational for UK and Irish customers placing pool bets. The platforms will also continue offering selected fixed-odds sports betting products and will be used to test new pool betting products and promotions before they are introduced through the Tote’s wider distribution network.
The broader group remains profitable, carries no debt and has a strong balance sheet, according to Frost.
Frost played a central role in the consortium that acquired the Tote from Betfred in 2019 and subsequently rebuilt it as an independent betting operator. His tenure also included the development of World Pool into one of the company’s main international growth channels.
UK Tote Group chairman John Williamson said Coxon’s operational experience and record of expanding gambling businesses positioned him to lead the company through its next phase, with international pool betting now set to form the core of the Tote’s growth strategy.