Finance, Other 1 min read

New Legislation to Support New Zealand’s Racing and Sports Betting Industry

Written by MOS Editorial Team

Published on 10 December 2024

The New Zealand Government has announced plans to introduce a “legislative net,” granting TAB NZ exclusive rights to offer online racing and sports betting. The move is expected to address losses of approximately $180 million annually to offshore operators, ensuring funds are retained within New Zealand.

The legislation aligns with TAB NZ’s 25-year partnership with global operator Entain, initiated in 2023. Under this framework, the partnership is projected to deliver over $1 billion in additional funding to the racing industry and sporting bodies. A one-off payment of $100 million from Entain will also follow the legislation’s enactment.

This measure strengthens TAB NZ’s position as the sole statutory body facilitating betting for the benefit of New Zealand’s racing and sports sectors.

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