New Zealand’s sports betting industry is getting a major boost this season. The New Zealand Racing Board (NZRB) recently launched a betting platform that could revolutionize the racing industry in the country forever. The TAB website is becoming more modern and competitive, and people of the country are welcoming the changes as well. The website, as well as the mobile app, will be offering customers a number of fixed odds betting options. It will also be offering betting options and delivering increased returns to the racing industry.
According to John Allen, the CEO of NZRB, said that the new options would be the dawn of a new era for the racing board as well for its betting customers based in New Zealand. He also noted that the board is interested in providing a more compelling betting experience to its people and enhancing the number of betting opportunities that it can offer.
He noted that this new initiative would be enough to increase the industry’s returns by $17 million to $19 million in annual profits. This will help in contributing a $30 million increase in the net betting profit as the Fixed Odds Betting changes from 2021/22. He said that they had changed their previous website with a more responsive, modern and very easy to navigate site that will be providing more products and events to the customers.
With the advent of the new website, the NZRB betting customers will have better access to more options than they have ever used before. They will now be able to bet on sports events from all around the world. The website has also added a new product called ‘cashout’ which will give them the option to get a return from fixed odds bets that they select before an event is over. This kind of options will help in providing fewer suspensions, more markets and even direct access from watching the game to directly betting.
According to Allen, the new platform will become the game changer for their core business and improve its stability as well. He said that it would improve the continuity and offerings of the numerous core functions of Jetbet, their old system and create Openbet. It will provide users the flexibility to set their own odds on events where their local expertise could give it a boost.
PaddyPower, Betfair and OpenBet are global operators who will be making the New Zealand TAB a significant asset in the country which can compete with global players.