UK Tote said the double addition would support its ongoing growth plans, with the focus on product innovation, better value, improved customer experience and strong partnerships to create more liquidity and bigger pools.
Lord Spencer is an entrepreneur and founder of interdealer broker ICAP, which became a FTSE100 business in 2006, and its successor, electronic markets services provider NEX plc. He is also one of more than 150 investors in UK Tote.
In addition to acting as a board director of a small number of private businesses, Spencer became chairman of the Centre for Policy Studies in 2020.
Holt brings experience and knowledge from his time working in senior technology roles with a number of businesses. These included spells as chief technology officer at CPA Global and chief technology officer for Trainline.
He is currently chief product and engineering officer at 10x Banking Technologies Services, a financial services business focused on moving banks from monolithic to next-generation core banking solutions. In addition, Holt is a non-executive director at Camelot and chair of training business Divrsity.
“During an exciting time of growth for the Tote we are delighted to appoint Lord Spencer and Mark to the UK Tote Group board,” UK Tote Group chairman John Williamson said.
“Michael has been an investor in the Tote from the outset and continuing to share his unrivalled experience across the business world as a board member will be an incredibly valuable support to our team.
“Mark’s technological expertise will be of significant benefit as we continue to develop and improve the Tote’s pool betting engine.
“Both Michael and Mark will support our outstanding executive team and the excellent work of our 170 employees in our Wigan HQ and London office.”