MP for Tewkesbury Laurence Robertson has secured a debate in the House of Commons about the future of the Tote.
The Conservative representative has Cheltenham racecourse in his constituency and is also the joint chairman of the All Party Parliamentary Group on Racing & Bloodstock.
The Tote has been put up for sale by the Government with a number of parties interested in buying. Robertson will hold the debate on March 1, the day after the Commons returns from recess.
"The future of the Tote and its ongoing contribution to horse racing hangs in the balance at this very moment as the government decides its future," said Robertson.
"I have always made two main points with regard to the Tote. That the important thing is that the income stream from the Tote to horse racing be secured for the long term. And that the tax payer has never put a penny into the Tote so deserves no repayment.
"Last year, the Tote contributed a total of almost £19 million to racing in terms of levy, racecourse rents and sponsorship.
"It is crucial to horse racing that this level of contribution continues. The 50% of the sale price being given back to 'racing', whatever that means, is of less importance than the securing of the year by year income in the medium to longer term.
"My worry is that the government could turn round and say to racing 'there's your 50% of the proceeds of the sale, we've done our bit for racing as we promised we would'.
"The bigger issue is the on-going money coming in from the Tote. Whoever takes on or buys the Tote needs to be required to provide some guarantee that this income will be protected and will continue.
"And the right decision on the Tote could help provide the commercial arrangement that racing surely needs to achieve as a replacement for the out-dated Levy system.
"It's also important that the Tote brand - the friendly face of bookmaking - continues to exist as an institution. My concern is that, with a straight commercial sale, that might not be the case.
"This debate is very timely. I shall stress to the minister the vital importance of the Tote to racing and urge him to give racing's interests the predominant importance when considering the sale."