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New Zealand Reforms to Allow Betting During Horse Races

New Zealand Reforms to Allow Betting During Horse Races

A proposed reform package will allow New Zealand’s central betting agency to take bets on more events and accept wagers during horse races.

The Racing Minister Nathan Guy is seeking public feedback on the proposed changes to the Racing Act after a report found that New Zealanders are increasingly turning to offshore betting companies. The reforms aim to bring the business back to New Zealand and ensure that revenues aren’t lost to offshore operators. By law the New Zealand Racing Board is the only provider of racing and sports betting via the TAB.

The reforms would remove the prohibition of the TAB taking bets during a race, it would remove the restriction that requires the TAB to offer bets only on sports represented by national sporting organisations and it would allow the TAB to expand its range of gambling products.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.




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