The New Zealand Racing Board (NZRB) is a statutory monopoly for New Zealand sports betting, including betting on horse racing and greyhound racing. It had been established under the Racing Act 2003 to manage the TAB.co.nz racing, boost the racing industry and maximise the profits of the business. It broadcasts racing on two television channels TAB Trackside 2 and TAB Trackside 1, along with TAB Trackside Radio.
The Board has an obligation below the Racing Act to control and enhance the New Zealand racing business. It has to schedule the racing calendar to maximise gain. It has to promote wider ownership of racehorses and greyhounds, and best practice amongst racing events and racing clubs. It has to also aim to increase the technology and efficiency of the sector, improve the feeling of race day events and increase the facilities of racing sites.
The TAB provides a broad range of totalisator and fixed-odds betting products. Just over 80 percent of the totalisator gaming dollar is returned to the customer. The remainder is returned after tax and NZ Racing Board costs, to the racing and athletic codes.
The NZ Racing Board’s income comes from TAB gambling earnings. The NZ Racing Board runs around 675 TAB NZ outlets throughout New Zealand together with On-course Tote Terminals, Touch, Phonebet and Internet Tone wagering channels. TAB Touch Tone, Phonebet and Internet wagering channels service more than 170,000 TAB account holders.
TAB wagering stations.
The TAB has several different wagering channels, tailored to fulfill the requirements of its enormously changing customers:
- Betting at racetracks on raceday
- A national network of societal and streetfront venue betting shops, one of the biggest retail networks of New Zealand
- A national chain of call centres. The Phonebet centres manage more operator-assisted calls than any other New Zealand call centre
- New Zealand’s only betting web site, www.tab.co.nz
- A Touch Tone phone betting service
- A mobile application on iOS and Android
- Other gaming stations manipulating emerging new technologies are in development.
- Wagering channels are continuously evolving to provide a premium standard of customer care.
TAB wagering products
The TAB initiated the entire world’s first Government-run totalisator wagering service in 1951. Now a growing selection of All Up stakes and tote bet types is on offer, from position win and every method to Poker, Easybets where the computer decides Percentage betting to cut the cost of placing a bet, and the runners, weighted towards the favourites.
It added fixed- odds betting to its stable when the TAB started sports betting. From rugby football, soccer and cricket to sheep shearing now 31 sporting codes are covered including matches and fixtures around the world. As with race gambling, a proportion of every dollar that was gaming is returned to the New Zealand sport code which the stake is taken. The option of sports betting products comprised head to head, half / full-time double, winning gross profit and team, and more.
Fixed odds betting is Closing Field, and also available through Futures novels, on racing.
In June, 2007 Australian racing merchandise became available to New Zealand customers throughout the commingling of New Zealand totalisator pools and the Australian Super TABLATURE. More recently the Tabcorp agreement was expanded to comprise Australian wagering on New Zealand racing product. Commingled pools and the expansion of the New Zealand and Australian race programmes provides increased wagering chances for customers in both nations.
The New Zealand TAB now additionally take betting on a choice of races from England, America, Hong Kong, Japan, France and Singapore.