NZ Racing Board seeks approval on shared betting arrangement with Australia's Tabcorp

Fri, 03 Jun 2016

By Sophie Boot June 3 (BusinessDesk) - The New Zealand Racing Board (NZRB) has applied to the Commerce Commission for approval of provisions on shared betting with Australia's Tabcorp which attempt to stop local gamblers using the Australian platform in preference to the TAB. NZRB, which operates the TAB, is concerned about commingled betting pools in a certain form of betting, called pari-mutuel betting, which is where the total value of all bets is consolidated in a pool from which the operator takes their share with the remainder paid...

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