Racing Amendment Bill modernising bettingRacing
Minister for Racing David Bennett has introduced the Racing Amendment Bill into Parliament.
The Bill modernises racing and sports betting in New Zealand, amending the Racing Act 2003.
“These changes make it possible to get a return for the information received from betting on New Zealand events and also bets placed by New Zealanders,” Mr Bennett says.
This Bill seeks to return money into New Zealand through information and consumption charges from offshore betting operators.
An information charge seeks money from offshore operators taking bets on New Zealand racing and sporting events.
A consumption charge seeks money from offshore operators taking bets from people living in New Zealand.
“The Racing Amendment Bill will also enable in-race betting, bringing it into line with in-play betting for sports and will allow the New Zealand Racing Board to offer betting on a wider range of sports” Mr Bennett says.
The proposals in the Racing Amendment Bill stem from a review undertaken by the Offshore Racing and Sports Betting Working Group in 2015.
Mr Bennett thanked the Working Group and all those that made submissions on proposals to amend the Act.
“I welcome this advancement in collection of betting charges that can be used to assist the racing industry and other sports bodies are these bets,” Mr Bennett says.
The Bill is available at:
Note to editors:
· The New Zealand Racing Board (NZRB), which operates the TAB, is the only provider of racing and sports betting that is authorised in New Zealand. When people bet with the TAB here in New Zealand, the NZRB distributes profits to New Zealand’s racing and sports organisations. It also helps to fund services that address gambling harm.
· New Zealanders can bet with offshore websites but, unlike the NZRB, the operators of those websites do not contribute any money back to this country.