Things every punter should know about betting in New Zealand

Kiwis have been betting on sports and racing for over 100 years, but the New Zealand betting industry has seen rapid growth, and change, in the last few years.

This change is largely due to the growing popularity of European-based betting sites and the reaction of New Zealand’s sole betting agency, the TAB NZ, as it struggles to compete with the competitive odds and lucrative sign-up bonuses of these offshore bookmakers.

Whether you are a Kiwi who wants to have a flutter on the races or aims to make some quick cash betting on A-League football, it’s essential first to understand New Zealand’s betting laws.

New Zealand’s Betting Laws

All of New Zealand’s domestic betting takes place with the TAB (Totalisator Agency Board) NZ.

This is because New Zealand’s Gambling Act 2003 restricts betting that originates from within New Zealand to operators who have a New Zealand license.

New Zealand does not give out licences to popular international bookmakers like Bet365, Betway and 888sport, with the goal of keeping New Zealand’s betting in New Zealand.

But it’s not working.

Under New Zealand law, these international betting companies are still allowed to offer sports betting to Kiwis because their online betting websites originate from outside of New Zealand.

Therefore, New Zealand bettors find themselves spoilt for choice.

They can legally, and safely bet with both the TAB NZ and international betting operators that accept New Zealand players.

The TAB and NZ’s Racing Industry

The TAB has been running New Zealand’s racing and sports betting industry since 1951, and before the invention of the internet, it was the only legal place New Zealander’s could bet on sports.

Today, many Kiwis still choose to bet with the TAB NZ, but the number of punters who are switching to offshore bookies is growing. In fact, this year it is estimated that half of Kiwis now bet with international betting websites.

According to a government report on offshore racing and sports betting in New Zealand,

“The New Zealand Racing Board has found it difficult to compete against offshore gambling operators in the online market because competitors offer better odds, a bigger product range and better services.”

This poses an enormous threat to New Zealand’s betting industry, which contributes nearly $2 billion to the New Zealand economy every year.

However, for the average Kiwi punter, the lack of control allows them to take advantage of the competitive odds and high sign-up bonuses offered online.

Better odds and Bigger Bonuses

More and more Kiwi punters who are looking for bigger returns from their sports bets are turning to offshore operators.

Right now, betting site bonuses available online for New Zealanders range from $10 free bets to $100 matched deposit bonuses.

To claim these rewards, Kiwis only have to complete a sign-up process that takes a few minutes, and then they need to make a first deposit or place an initial bet.

When you combine free betting credits, with competitive odds, switching to offshore betting sites becomes a no-brainer.

Football and rugby odds are exceptionally competitive for bookmakers like Bet365 and Betway. At the same time, other betting sites, like LeoVegas and 888Sport, also offer generous boosts and promotions that add value to bets beyond what the TAB can offer.

Summary

If you are new to betting in New Zealand, or a seasoned punter, finding value with international betting sites should be your focus.

Know that even though the TAB NZ holds a monopoly over New Zealand’s domestic betting market, it is legal and safe to use betting companies that often have better odds and promotions than the TAB.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes