The UK Tote Group announced the appointment of James Coxon as its new chief executive on Tuesday, indicating a strategic shift towards horse racing pool betting with an emphasis on enhancing its World Pool offerings. Coxon, who brings over 20 years of experience in the betting and gaming industry, will take over from current CEO Alex Frost at the end of this year.
Coxon has held significant roles at DraftKings following the acquisition of SBTech, and most recently served as COO at Gaming Innovation Group.
Frost, who has been at the helm of the Tote for nearly nine years, will continue with the company as an executive director until 2027, after which he will assume a position as a non-executive director on the board. "It has been a great honour to lead the Tote through what has at times been an extraordinarily challenging backdrop for British racing and the wider betting industry," Frost remarked. He expressed pride in the foundations established during his tenure, which he believes will ensure the company's future success.
John Williamson, chair of the Tote’s board, praised Frost for his substantial contributions and welcomed Coxon as someone well-equipped to guide the Tote in its upcoming phase.
The leadership transition is a part of a broader strategic review. The Tote also revealed its intent to prioritize pool commingling operations both in the UK and internationally, specifically focusing on the World Pool, which aggregates wagers from across the globe into a single betting pool. This marks a significant reduction in investment in direct online consumer ventures beyond core pool betting.
Under the new strategy, the Tote will no longer provide gaming content online. Its platforms Tote.co.uk and Tote.ie will be retained exclusively for UK and Irish customers wanting to make pool bets, alongside a limited number of fixed-odds sports bets. These websites will also serve as experimental platforms for new pool initiatives and promotions intended for wider implementation through racecourses, bookmakers, and international partners.
This renewed focus will necessitate job cuts within the digital division; however, the Tote plans to create new roles in its B2B operations to offset some of the job losses.
Frost elaborated that the Tote’s future lies in expanding horse racing betting pools in both the UK and abroad. He emphasized the significant growth potential by investing to support pool distribution partners, including racecourses and bookmakers. The Tote expects substantial revenue growth from the World Pool this year, estimating an increase of 40%, with continued double-digit growth projected through 2027 as the number of World Pool race days rises.
Frost attributed the decision to cut losses in the consumer digital business to increasing regulatory demands on digital operators and heightened taxation, leading to a reallocation of resources toward international pool betting. Earlier this year, John O’Reilly joined the Tote’s board as a non-executive director, bringing over 30 years of senior industry experience. He previously served as CEO of Rank Group PLC for seven and a half years before stepping down.
