New bill is expected to be draft in New Zealand in order to control offshore racing bets.
New Zealand.- The country is about to face new legislation to recoup millions from overseas racing bets. Foreign bookmakers, especially Australians, make great profits with Kiwis’ gambling whilst local industry is on a declining trend. The government aims to impose fees on offshore operators.
According to the New Zealand Racing Board, there are 40,000 New Zealanders betting overseas and the number keeps increasing. A report issued by the Board describes the difficulties of developing the activity if the money goes abroad. “Competitors offer better odds, a bigger product range and better services,” they claim, but, in order to improve local industry, it is necessary to invest bet money in the country.
In 2015, New Zealanders placed bets for over US$329 millions through Australian operators. Greg Purcell, Thoroughbred NZ Racing CEO, assures that the NZ racing industry sees none of the money. That is why the new legislation is getting major support either between politicians and the whole local industry.
“It would have a requirement that anybody who was accepting a bet from a New Zealander makes a contribution back to New Zealand and it would have a requirement that anyone who was offering betting on New Zealand racing or sport would have to make a contribution back to the New Zealand industry as well,” Racing Board chief executive John Allen stated.