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.”