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Record results for New Zealand sportsbetting

Racing New ZealandThe New Zealand Racing Board has revealed that citizens in the country spent a record NZ$1.96 billion (€967.6 million/$1.31 billion) on sportsbetting and the racing industry’s poker machines in the 12 months through to the end of July.

The board, which was established in 2003 under the Racing Act to run TAB bookmakers in New Zealand, announced a net profit of NZ$144.1 million for the year ending July 31, a 13.2% increase on the previous year.

Of this profit, NZ$142 million is to be distributed to the racing industry – a $6.5 million increase on the year before.

In addition, around NZ$5.7 million was distributed to national sporting organisations and other bodies as a result of the record takings.

“We've achieved these results despite increasing offshore competition, and a lack of major sporting events in 2012 and 2013 to offset the positive impact of Rugby World Cup in the prior year,” New Zealand Racing Board chairwoman Glenda Hughes said.

The figures were even more impressive considering the fact that 12 race meetings were abandoned during the year due to extreme weather, as highlighted by Hughes.

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