The pari-mutuel betting group behind the UK Tote are planning to start taking wagers on human sports in a bid to lessen their reliance on bob-tailed nags. 

On Friday, Sky News reported that the UK Tote Group had raised £20m in new equity from existing investors. The money will be used in part to fund a diversification strategy that will see the race betting operator establish a new football betting division sometime next year. 

A Tote spokesperson stated that responding to “new opportunities … remains a key priority” for the well-heeled individuals behind Alizeti Capital, which acquired the Tote from former owners Betfred last year. 

Alizeti is comprised of key racing figures, including racehorse owners, breeders, trainers and jockeys. The UK Tote Group’s CEO is Alex Frost, a former Merril Lynch trader, who welcomed accountant John Williamson as Tote chairman in September.