{"id":7831,"date":"2024-12-12T11:37:18","date_gmt":"2024-12-12T11:37:18","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=7831"},"modified":"2024-12-12T11:37:24","modified_gmt":"2024-12-12T11:37:24","slug":"new-zealand-government-propose-to-expand-tab-power-to-online-betting","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2024\/12\/12\/new-zealand-government-propose-to-expand-tab-power-to-online-betting\/","title":{"rendered":"New Zealand Government Propose to Expand TAB Power to Online Betting"},"content":{"rendered":"\n

The New Zealand government<\/strong> is considering a bill to expand TAB New Zealand<\/strong>\u2019s monopoly on sports and racing betting to include online platforms.<\/p>\n\n\n\n

Minister Winston Peters<\/strong> introduced the Racing Industry Amendment Act 2020<\/strong>, calling it a necessary step to secure the financial future of an industry that employs more than 13,500 people and makes a significant contribution to the economy.<\/p>\n\n\n\n

If passed, the bill would make TAB the sole provider of sports and racing betting across both land-based and online channels.<\/p>\n\n\n\n

The proposed bill aims to remove around $180 million a year in profits from offshore operators and redirect them into the local economy.<\/p>\n\n\n\n

\u201cThis legislation will enhance the long-term sustainability of New Zealand\u2019s racing industry by making TAB NZ New Zealand\u2019s sole provider for sports and race betting both on land and online,\u201d Peters said. <\/p>\n\n\n\n

\u201cGrowing competition from offshore online betting operators poses a significant threat to the TAB NZ model.<\/p>\n\n\n\n

\u201cThis change brings the model up-to-date with the current sports betting climate and will ensure the financial sustainability of the racing industry,\u201d Peters added.<\/p>\n\n\n\n

The bill also includes provisions to strengthen oversight and ensure consumer safety.<\/p>\n\n\n\n

It gives the Minister the power to request information from the TAB and implements regulatory measures to ensure that offshore betting operations targeting New Zealanders are prohibited.<\/p>\n\n\n\n

In addition, the amendments include consumer protection measures aimed at creating a safer gaming environment and reducing the risks associated with problem gambling.<\/p>\n\n\n\n

The removal of the point-of-consumption levy is also proposed to streamline the TAB financial model.<\/p>\n\n\n\n

TAB New Zealand CEO Nick Roberts<\/strong> highlighted the potential positive impact on both the industry and local communities.<\/p>\n\n\n\n

\u201cThis is a positive outcome which will have national impact,\u201d Roberts stated.<\/p>\n\n\n\n

He stressed that maintaining $180 million per year would increase funding for local communities and ensure New Zealanders were betting in a safe and regulated environment.<\/p>\n\n\n\n

Roberts also highlighted that the changes could deliver an additional $1 billion to stakeholders over the remainder of TAB\u2019s 25-year strategic partnership with Entain. It was signed in June 2023 and aims to improve the operational efficiency and reach of TAB New Zealand.<\/p>\n\n\n\n

The amendments to the Act have been referred to the Governance and Administration Committee for further consideration and public consultation as part of the Select Committee process.<\/p>\n\n\n\n

Earlier this year, the New Zealand Government proposed plans for an online casino licensing structure, stating that licensed operators could only offer online casino games and not sports betting or lottery products.<\/p>\n\n\n\n

In November, the Government said it intended to cap the number of online casino operator licences to 15.<\/p>\n\n\n\n

Don’t forget to subscribe to our Telegram channel<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

The New Zealand government is considering a bill to expand TAB New Zealand\u2019s monopoly on sports and racing betting to include online platforms. Minister Winston Peters introduced the Racing Industry Amendment Act 2020, calling it a necessary step to secure the financial future of an industry that employs more than 13,500 people and makes a […]<\/p>\n","protected":false},"author":7,"featured_media":7833,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[4,7,1,24],"tags":[2964,10797,10794,10795,10796],"class_list":["post-7831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-betting","category-igaming","category-news","category-regulations","tag-new-zealand","tag-nick-roberts","tag-racing-industry-amendment-act","tag-tab-new-zealand","tag-winston-peters"],"yoast_head":"\nNew Zealand Government Propose to Expand TAB Power to Online Betting - SBC EURASIA EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2024\/12\/12\/new-zealand-government-propose-to-expand-tab-power-to-online-betting\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Zealand Government Propose to Expand TAB Power to Online Betting - SBC EURASIA EN\" \/>\n<meta property=\"og:description\" content=\"The New Zealand government is considering a bill to expand TAB New Zealand\u2019s monopoly on sports and racing betting to include online platforms. 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