New Zealand sports betting enters a new phase

The New Zealand Racing Board’s (NZRB) has launched a new betting platform which is considered as a game-changer for the country’s racing industry.

New Zealanders are welcoming modern and competitive TAB website and mobile app, which offers customers a number of fixed odds betting options and delivering increased returns to the racing industry.

“This is the dawn of a new era for the NZRB and for New Zealand betting customers as we deliver a more compelling betting experience and significantly enhancing the number of betting opportunities we can offer,” says NZRB CEO John Allen.

“We estimate this initiative alone will increase returns to the industry by $17 million – $19 million in annualised profit, rising to approximately a $30 million increase in net betting profit as a result of the Fixed Odds Betting change from 2021/22,” says Allen.

“We’ve replaced our existing website and app with a responsive, modern and easy to navigate site that delivers more products and events,” says NZRB CEO John Allen.

“Our customers will have access to more options than ever before on sporting events from around the world. We’ve added new products like ‘cashout’, giving them the option to obtain a return from selected fixed odds bets before a match or event is even over and improved in play betting with fewer suspensions, more markets and direct access from watching to betting,” added Allen.

“The new platform will also be a game changer for our core business, improving business stability and continuity and by moving a number of core functions managed by our old system Jetbet, into a new platform provided by Openbet it gives us the flexibility to set our own odds on events where our local expertise outpaces the PaddyPower options.

“Our partners on this project, OpenBet and PaddyPower Betfair are world class operators. What they have done is ensure the New Zealand TAB, a significant and valuable industry asset, can now compete with the rest of the world, increase our revenue and in turn, our distributions back to racing and sport,” stated Allen.