Entain has announced the launch of Bectha, a new betting platform for the New Zealand market.
The new brand, aimed at the region’s younger audience, is being presented as a “direct response” to the growing threat from offshore betting operators.
Cameron Rodger, Managing Director of Entain Australia and New Zealand, commented: “In the three months to the end of June 2024, New Zealanders’ spending with offshore betting operators grew by 30%, continuing a trend over the last three or more years.
“Offshore spending is now estimated to be over $180m per annum and this is led by the growth in offshore spending doubling in the 18-29-year-old age band in the last five years.
“Their betting activity provides little to no benefit for the New Zealand racing and sports industries, and these offshore operators are under no obligation to provide the same level of harm minimisation support and account management tools that Betcha will make available for Kiwis.”
While Betcha is operated by Tab and Entain, it will not offer horse racing betting. Unlike Tab, Betcha will only offer fixed odds and operate as two separate platforms. Current Tab customers will need to register a new account to use Betcha.
“This new brand will emphasize the social and competitive value of sports and racing and introduce New Zealanders to the next generation of betting,” added Entain Chief Marketing Officer, Mel Kenneday.
“This means we’ll be focusing on some of those events and sports that the newer generation have really shown interest in, like football, basketball and UFC, with Betcha confirmed as New Zealand’s official wagering partner for UFC.”
Entain also announced this week that it had raised its full-year guidance for 2024, following better-than-expected second-quarter results. The revised regulatory timeframe helped drive the key upgrades.
In its half-year trading update, the FTSE100 gambling group noted “improved operational execution” ahead of Gavin Isaacs taking over as new CEO on September 2, 2024.
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