Skip to main content

New Zealand Government Considers Prohibiting Offshore Online Gambling Prioritizing TAB Exclusivity

In a bid to revamp the struggling racing and sports industry, the New Zealand government has unveiled plans to potentially prohibit online betting outside of the TAB (Totalisator Agency Board). The proposed move seeks to unlock a "significant" new revenue stream while simultaneously addressing concerns surrounding unregulated online gambling.

Racing Minister Kieran McAnulty emphasized that extending controls over the online gambling landscape would empower the government to establish stronger regulations. Additionally, the newfound revenue source would allow for increased investments in harm minimization initiatives, benefiting both punters and sports codes.

Accompanying this announcement is the confirmation of a momentous 25-year partnership between TAB NZ and a prominent British betting company, Entain. This alliance is projected to inject a staggering minimum of $900 million into the racing industry during its initial years. By leveraging Entain's expansive reach and technological expertise, TAB's operations are poised for an enhanced customer experience.

McAnulty hailed the collaboration as a transformative moment in New Zealand racing history, expressing confidence that it would reverse the industry's declining revenues and secure a prosperous future. Notably, the racing sector contributes a substantial $1.6 billion to the nation's economy and supports 14,000 jobs.

Recognizing the financial challenges TAB NZ has faced in recent years, largely due to offshore gambling websites, the agreement provides a much-needed lifeline. An upfront payment of $150 million, upon approval, sets the stage for a fruitful partnership, complemented by a 50 percent revenue share from day one. This arrangement guarantees minimum annual payments of $150 million for the first five years.

McAnulty stressed that the agreement not only bolsters the financial viability of the racing industry but also prioritizes responsible gambling practices. As part of the deal, TAB NZ has committed to allocating $5 million toward harm minimization measures, pending approval. With Entain's advanced harm minimization technologies, including facial recognition tools that can be implemented in TAB venues, the partnership aims to create a safer betting environment.

While the collaboration has received widespread support, concerns have been raised by the Problem Gambling Foundation, citing regulatory issues in the UK where Entain operates. The government, however, remains determined to address these concerns while not compromising on the objective of revitalizing the racing industry.

Simultaneously, McAnulty unveiled the Racing Integrity Board's report on the future of the greyhound racing industry. Acknowledging that the status quo is no longer sustainable, he outlined two options: continuing under stricter conditions or considering closure. Despite potential delays in bringing the decision before the Cabinet before the election, McAnulty affirmed his commitment to progress this crucial issue and ensure that animal welfare remains a priority through close collaboration between the Racing Integrity Board and Greyhound Racing New Zealand.

For those interested in exploring the online gambling options available in New Zealand, a comprehensive review of online gambling websites can be found at Online-gambling.com. This review offers insights into the features, user experience, and safety aspects of various online gambling platforms operating within the country.

As the government forges ahead with plans to reform the gambling landscape and safeguard the racing industry's future, stakeholders eagerly anticipate the positive impact these measures will have on local sport, responsible gambling practices, and the overall well-being of New Zealand's racing ecosystem.

Read more on Gaming and Gambling online. Get new content updates as they drop via Twitter and Facebook

The post New Zealand Government Considers Prohibiting Offshore Online Gambling, Prioritizing TAB Exclusivity appeared first on NotjustOk.



from NotjustOk https://notjustok.com/sports/new-zealand-govt-considers-prohibiting-offshore-online-gambling/>
Labels:

Comments

Post a Comment

Popular posts from this blog

Cristiano Ronaldo Starts for Manchester United Against Rayo Vallecano | SEE TEAM LIST

The manager of Manchester United, Erik Ten Hag has released his team list for the final group game against Rayo Vallecano. Cristiano Ronaldo XAVI HERNANDEZ GIVES UPDATE ON FRENKIE DE JONG’S FUTURE AT BARCELONA The game against the Spanish team was Manchester United’s final group game ahead of the new football season. Cristiano Ronaldo whose future at the Old Trafford club is not yet settled is the major inclusion in the team ahead of the game. The club’s latest signing Christian Eriksen is also part of the club’s starting XI, Rafeal Varane was also part of the team. Presenting today's team news… #MUFC — Manchester United (@ManUtd) July 31, 2022 The post Cristiano Ronaldo Starts for Manchester United Against Rayo Vallecano | SEE TEAM LIST appeared first on NotjustOk . from NotjustOk https://notjustok.com/sports/cristiano-ronaldo-starts-for-manchester-united-against-rayo-vallecano-see-team-list/>
Post a Comment
Read more

Premier League Experience its First Managerial Sack of the 2022/23 Season | SEE DETAILS

The supporters of the Premier League have witnessed its first managerial sack of this football season ( 2022/23). Scott Parker CHELSEA FC TERMINATE ROSS BARKLEY’S CONTRACT Bournemouth confirmed the sack of Its manager, Scott Parker on its official website on Tuesday, August 30th, 2022. According to reports from the club, he was sacked after being accused of disrespecting the club after getting thrashed 9-0 by Liverpool. Parker spoke about the club not having the ability to challenge other premier league clubs insisting Bournemouth is a young team. The club are currently placed 17th on the Premier League table following their 3-0 and 4-0 thrashing in the hands of Arsenal and Manchester City respectively. Bournemouth’s only win of the season so far came at the opening weekend of the season which came against Aston Villa. Gary O’Neil who was part of Parker’s backroom staff – has taken interim charge and will be assisted by Shaun Cooper and Tommy Elphick. The post Premier L...
Post a Comment
Read more

Listen to 'Jejely' by Sean Dampte | New Jamz

'Jejely' by Sean Dampte, takes more than an elbow room in the Afro-fusion genre Owning an experimental voice is one of the biggest assets any musician can have, especially from Africa. Sean Dampte on Jejely brings forth an entirely different experience from the variety of sounds that his discography presents. His intentional choice to be vulnerable can also be highlighted in this single piece of work as some elements of the foreign Amapiano kicks show up for the first time on Sean’s dish.  Sean Dampte – Jejely Jejely will be taking more than a little elbow room in the afro-fusion genre that Sean Dampte is known to originate. Heralding an upward shift, as popular songs cascade down the charts, this gentle bully will soon become a lifestyle as music lovers sway to what is bound to become a steadfast anthem in a few weeks. Having consumed the literature of the track, which is always pure and served in its most natural context, Sean authored each line of this new joint wi...
Post a Comment
Read more