New Legislation Set to Secure the Future of New Zealand’s Racing Industry

New Zealand's racing industry is set to receive significant support through proposed changes to the Racing Industry Act 2020, aimed at ensuring long-term sustainability and protecting it from growing competition from offshore online betting operators. The legislation would grant Tab NZ exclusive rights to provide sports and racing betting both online and offline, helping to safeguard the sector’s economic viability.

With Tab NZ currently generating 90% of the racing industry's revenue, the new measures are designed to address the financial pressures posed by international operators. The changes will also bolster consumer protection, introducing regulatory updates and harm minimisation initiatives to better safeguard bettors.

New Zealand’s Racing Minister Winston Peters emphasized that these amendments are essential to align with the evolving sports betting landscape, ensuring the future success of the industry and its positive economic impact. The bill will undergo further review and public consultation in the coming months.