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

Virgil Van Dijk's Remarkable Record Comes to an End

Liverpool's first choice center back, Virgil Van Dijk has finally tasted defeat for the first time In the Premier League at the Anfield Stadium. Virgil Van Dijk GRAHAM POTTER EXPLAINS WHY CHELSEA LOST TO BRIGHTON The Dutchman has never lost a game that he played in the Premier League since he joined the Reds from Southampton. Van Dijk was on 70 unbeaten game runs heading into the game against Leeds United. The defeat against Leeds was the first time Liverpool have lost a Premier League game since March 2021. Virgil Van Dijk loses his first-ever Premier League match at Anfield. The unbeaten streak ends at 70 games pic.twitter.com/8432RS1UQt — B/R Football (@brfootball) October 29, 2022 The post Virgil Van Dijk's Remarkable Record Comes to an End appeared first on NotjustOk . from NotjustOk https://notjustok.com/sports/virgil-van-dijks-remarkable-record-comes-to-an-end/>
Post a Comment
Read more

16th Headies: Odumodublvck bags Best Rap Single

Odumodublvck thanks his team and family for supporting him after winning his first Headies award. After several hours of festivities and fanfare, the 16th Headies Awards kicked off with a bang. The first Headies award of the night, the Best Rap Single, goes to Odumodublvck. He takes this win home for his hit song, Declan Rice . Odumodublvck , born Tochukwu Gbubemi Ojogwu , took the Nigerian music scene by storm with his hit song, Declan Rice. In 2022, he signed a record deal with Native Records in partnership with Def Jam . He is a member of the hip hop collective group, Anti World Gangstars. Read Also: See Wizkid's Reaction To Odumodublvck's 'Declan Rice' Under this record label, he released his first single, Picanto. The hit song featured ECko Miles and Zlatan, earning him his first charting song on the Nigeria TurnTable Top 100. In March 2023, he released his hit single, Declan Rice he was inspired to make the song shortly after surviving a dicey medical su...
Post a Comment
Read more

Vector Shares Snippet Of New Song With Wande Coal Expected To Drop On…

The heavyweight rapper will be dropping the collab as  build-up to his upcoming album “Teslim”. Vector & Wande Coal Nigerian elite rapper,  Ogunmefun Olanrewaju , popularly known as  Vector , has shared the snippet of his upcoming single ‘Mama Maradona’ which features Wande Coal. As anticipation for the rapper, singer, and songwriter’s album “Teslim” intensifies, the Lafiaji-born act has decided to roll out a new song to appease the fans. Combining skills with the iconic vocalist Wande Coal, the song titled “Mama Maradona” is scheduled to be released on Friday, September 2nd, 2022. Remember that Vector recently revealed that names like Wande Coal, Ladipoe , Olamide , and others will be featured on his upcoming album, which is already coming to play. Taking to Instagram today, August 29th, 2022, the rapper shared a snippet of the groovy hip-hop tune, a genre in which Wande Coal excels.  Listen to the snippet below View this post on ...
Post a Comment
Read more