Proposed NZ racing bill could make TAB sole online betting operator

The New Zealand Herald BusinessDesk’s Gregor Thompson discussed the implications on The Front Page podcast, noting that proponents believe a government-run entity can better regulate the industry, promote responsible gambling, and funnel revenue back into public use.

A new bill aimed at amending New Zealand’s Racing Industry Act 2020 is currently under scrutiny, which would designate TAB New Zealand as the only legal online operator for racing and sports betting.

Currently, Kiwis are estimated to lose around NZ$185 million ($105.4 million) annually to offshore gambling operators, and this bill aims to retain that revenue within the country.

However, critics argue that establishing a monopoly could limit consumer choice and lead to unfavorable betting odds due to reduced competition. The Commerce Commission is actively working to enhance competition in other sectors, which makes this proposed monopoly controversial.

In parallel, TAB NZ’s operator, Entain, faces allegations regarding inadequate measures to combat money laundering and corruption in Australia. Australia’s financial crimes regulator has initiated civil penalty proceedings against Entain, which could mirror previous high-profile penalties in the industry.

Racing Minister Winston Peters has been briefed on the situation, and TAB NZ has reportedly sought reassurances from Entain regarding compliance with Australian laws.

Concerns have been raised that a monopoly could inadvertently increase gambling harm by offering worse odds, potentially leading to quicker losses for vulnerable gamblers. Additionally, there are fears that restricting legal betting options may push Kiwis towards black market alternatives, including cryptocurrency betting.

https://agbrief.com/news/new-zealand/15/02/2025/proposed-nz-racing-bill-could-make-tab-sole-online-betting-operator/