Public feedback sought on proposed Racing Act amendments
Racing Minister Nathan Guy is seeking public feedback on proposed changes to the Racing Act 2003 that he says would require offshore gambling agencies operating in New Zealand to "pay their fair share of support back to local racing and sport groups.
"In 2015, about 40,000 New Zealanders turned over $518 million offshore with $58 million in losses – this represents potential lost revenue of up to $45 million for local racing and sports organisations.
"By law, the New Zealand Racing Board (NZRB) is the only New Zealand-based provider of racing and sports betting via the TAB. The NZRB distributes any profits back to racing and sports in New Zealand.
"This system ensures any proceeds from gambling support the local sporting and racing activities that make that gambling possible in the first place, and that punters operate within a regulatory framework that minimises gambling harm. Neither of these things occur when people bet with offshore providers."
The Working Group has developed proposals to make the TAB more competitive, and to help ensure offshore providers pay their fair share of support back to local racing and sport groups, Mr Guy says, including:
- Removing the prohibition on the TAB taking bets during a race (currently, only bets can be placed on other sports in-game)
- Removing the restriction that requires the TAB to offer bets only on sports represented by National Sporting Organisations
- Permitting the TAB to expand its range of gambling products to include betting on novelty prediction events
- A consumption fee for offshore gambling operators accepting bets from New Zealand; and
- A 'use of data' fee for offshore gambling operators using New Zealand race and sport data
The deadline for submissions is 27 May 2016.
Last updated on the 16th September 2019