New Zealand passes racing bill amendments extending TAB NZ monopoly
TAB NZ will have exclusive rights to online betting.
New Zealand.- The New Zealand parliament has passed racing bill amendments that would extend TAB NZ’s monopoly on sports and racing betting from land-based operations to online platforms. The amendments to the Racing Industry Act 2020, proposed by racing minister Winston Peters, now await sign off from governor-general Cindy Kiro after their third reading.
The amendments state that no person other than TAB NZ may offer racing betting, sports betting, or other racing or sports betting (or any combination of those forms of betting) in New Zealand.
Peters said the legislation would “ensure the sustainability of the racing industry in New Zealand.” He noted that the racing industry generates NZ$1.9bn for the economy and employs 13,500 people across the country.
He said: “Racing and sports have a special place in communities throughout New Zealand. With the rapid growth in online betting, we needed to make changes to protect TAB NZ’s betting revenue to support the progress of the industry.”
He added: “This legislation redirects New Zealand punters’ dollars for the benefit of the racing industry and sports here, rather than overseas commercial operators. It also means all sports and racing betting in New Zealand will now be in a fully regulated environment.”
The bill also introduces powers for harm minimisation. Peters said there would be increased ministerial and regulatory oversight to ensure integrity. “If TAB NZ’s performance does not meet expectations, action can be taken to uphold the protection of consumers,” he said.
