New Zealand bill proposes expansion of TAB NZ horse racing betting monopoly

Winston Peters’ bill would extend TAB NZ’s exclusive rights to online betting.

New Zealand.- Deputy prime minister Winston Peters, who also holds the brief for racing, has announced the introduction of amendments to the Racing Industry Act 2020. Proposed changes would extend TAB NZ’s monopoly on sports and racing betting from land-based operations to online platforms.

The proposed amendments also give the minister new powers to get information from TAB NZ and to oversee the ban on other betting operators. It also introduces rules for preventing harm, and protecting consumers and removes the Point of Consumption Charge. The bill will go to the Governance and Administration Committee for further review.

Peters said: “This change brings the model up-to-date with the current sports betting climate and will ensure the financial sustainability of the racing industry, as established in the Coalition Government’s Q4 Action Plan for New Zealand. These oversight tools will ensure that TAB NZ can continue to deliver value for consumers and the racing industry, and to ensure the ongoing viability of the industry.”

According to Peters, TAB NZ generates 90 per cent of the racing industry’s revenue.

TAB NZ chief executive Nick Roberts said: “This is a positive outcome which will have a national impact. We estimate Kiwis lose NZ$180m annually to offshore racing and sports betting operators. Retaining this money in New Zealand will not only maximise funding to our communities instead of providing profits to foreign companies but also ensure Kiwis can bet in a safe and regulated environment

“Critically this will deliver an additional NZ$1bn to our stakeholders over the remaining term of our strategic partnership with Entain. It’s excellent timing for the legislative net as Entain is now delivering a world-class betting product to local punters. In a short time, Entain has introduced market-leading harm minimisation tools alongside modern betting options across two distinctively Kiwi brands – TAB and betcha.”

See also: TAB NZ launches Betcha

TAB NZ would receive a one-time payment of NZ$100m from Entain in addition to a larger share of revenue and other payments throughout the 25-year partnership. “The legislative net will materially boost TAB NZ’s funding outcomes from the strategic partnership, providing a major boost to the racing industry and sporting bodies,” Roberts said.

New Zealand online casino bill to be presented next year

In November, minister of internal affairs Brooke van Velden said that the licensing system for online casinos in New Zealand is expected to be operational by early 2026. The government plans to present the bill to Parliament next year. There will be a period for public consultation and feedback during the Select Committee process.

The bill would allow up to 15 online casino licences. It would prohibit ads targeted at minors and require operators to use age verification systems. Online casino gambling currently operates in a grey area without regulations in the country.

Winston Peters’ bill would extend TAB NZ’s exclusive rights to online betting. New Zealand.- Deputy prime minister Winston Peters, who also holds the brief for racing, has announced the introduction…