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New Zealand approves commingled pools

Wednesday August 31,2016 : NEW ZEALAND APPROVES NZRB COMMINGLING WITH TABCORP (Update)
 
Take-out rates on commingled pools and pertaining to high volume punters restricted.
 
In its final determination, the New Zealand Commerce Commission (NZCC) has authorized the New Zealand Racing Board (NZRB) and Australia’s Tabcorp Wagering Manager to commingle totalisator horse and greyhound racing betting pools, subject to certain restrictions.
 
The restrictions refer to the NZRB’s and Tabcorp’s take-out rates from commingled pools and the rebates or commissions that the NZRB and Tabcorp pay high volume customers.
 
Following a public invitation last month for submissions in opposition of the draft decision, chairman of the NZCC Dr Mark Berry revealed none had been received.
 
“In reaching our decision we found that there are public benefits to combining the respective betting pools such as the NZRB being able to offer New Zealand residents more Australian races. Customers can also benefit from having higher value pools,” Berry said.
 
“We found the detriment is limited and only confined to a small number of customers engaged in high volume betting.”

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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