New Zealand to extend TAB NZ’s sports betting monopoly

New Zealand’s government is set to grant the New Zealand Racing Board a monopoly over online sports and race betting to protect local revenues and safeguard players from offshore operators.

With this new proposed legislation, the government will have the power to access TAB NZ’s data and regulatory oversight to block unlicensed operators. The bill will now undergo a select committee review.

New Zealand Minister Peters said:

“This legislation will enhance the long-term sustainability of New Zealand’s racing industry by making TAB NZ New Zealand’s sole provider for sports and race betting, both on land and online. Growing competition from offshore online betting operators poses a significant threat to the TAB NZ model. This change brings the model up to date with the current sports betting climate. It will ensure the financial sustainability of the racing industry, as established in the coalition government’s Q4 Action Plan for New Zealand.”

Chief Executive of TAB NZ, Nick Roberts, commented:

“We estimate Kiwis lose NZ$180 million (£83 million/€100 million/US$106 million) annually to offshore racing and sports betting operators. Retaining this money in New Zealand will not only maximize funding to our communities instead of providing profits to foreign companies but also ensure Kiwis can bet in a safe and regulated environment.”