New era for New Zealand sports betting
New Zealanders now have access to a modern, innovative and competitive new TAB website and mobile app, providing customers with tens of thousands of fixed odds betting options and delivering increased returns to the racing industry.
The New Zealand Racing Board’s (NZRB) new betting platform went live today (Monday 7 January) and is seen as a game-changer for the racing industry in New Zealand.
“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,” says 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 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,” says Allen.