New Zealand vows crackdown on online betting overseas

New Zealand has vowed to crack down on online gambling overseas, which the country’s horse racing industry claims is robbing the sport of a vital source of funding.

The country’s racing minister, Nathan Guy, told the New Zealand Racing Board’s annual meeting this week that tackling the problem would be his number one priority for the current term.

The New Zealand Racing Board estimates as much as $300 million ($236.5 million) may be lost each year to overseas online bookmakers.

“I want to be clear: it is a problem, it is complex, but I believe we should be able to make changes, and I am committed to making the necessary changes,” he said.

Offshore bookmakers were now a prominent and growing feature on the gambling landscape, he said.

“It has significant implications for racing and sport in New Zealand. Betting is central to racing and sport. It helps build public interest, generates excitement and keeps patrons coming back.

“It is also critical in providing funding for sports and racing. Without it there would, in all likelihood, cease to be a racing industry in New Zealand.”

He gave no details of possible measures.

 

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