I wanted to share my concerns about the recent changes in betting regulations here in New Zealand. It appears that Betfair will be off-limits to anyone residing in NZ. The removal of the Point Of Consumption Charge seems to confirm that all offshore betting will be banned. This is particularly troubling for someone like me, as I bet very little on NZ racing or sports due to the small pools; my focus is primarily on Australian racing and football.
I haven't used my TAB account much lately because I find it hard to justify betting into books with such high overrounds. I typically only get involved when there's a jackpot in a Trifecta, First4, or Quaddie, but I don't keep up with NZ racing enough to fully capitalize on these opportunities. Perhaps now, I'll have to pay more attention.
My original goal was to set up automation for betting in my retirement, but it looks like that plan is now in sunk. I'll have to revert to my early days of betting, where I did make money despite the book percentages being high. There's certainly more data available now compared to when I relied on Turf Digest and Friday Flash back in the day.
I understand that the government aims to prop up racing here, and I've been involved in the racing scene long enough (owning horses) to see how difficult it is to make money due to small stakes. However, the focus now seems to be on making racetracks look appealing on TV to attract overseas money, which feels somewhat contradictory when they're simultaneously banning offshore betting for us.
Using Bet Angel has been a significant advantage for me, and I enjoy updating my spreadsheets each morning. This process has greatly enhanced my data analysis skills, especially with the help of AI.
Sorry for the rant but on a scale of 1-10 for being F&^ked off I am a 10, looks like I am going to have to turn the clock back 48 years
End Of The Road
I think there is a lot of uncertainty for all. Only a matter of time before greyhounds are banned in the UK... and one day horses.
I occasionally go to the races, but find the small courses such as Whetherby have an average age of 50. I just don't see the younger generation being into horse racing, and just like the newspaper, will come to its own demise.
The less popular a sport, the easier a vote winning an opportunity it is. Greyhounds attract a tiny fan base now. Yet you could argue the hooliganism in football is just as bad as the alleged animal cruelty. But football would never be banned as it wouldn't win votes.
I occasionally go to the races, but find the small courses such as Whetherby have an average age of 50. I just don't see the younger generation being into horse racing, and just like the newspaper, will come to its own demise.
The less popular a sport, the easier a vote winning an opportunity it is. Greyhounds attract a tiny fan base now. Yet you could argue the hooliganism in football is just as bad as the alleged animal cruelty. But football would never be banned as it wouldn't win votes.
I've been following the recent changes in NZ betting regulations and I'm quite concerned. The authorities claim that people can only bet on NZ sports and racing with the TAB. Yet, the TAB site still features Australian greyhounds and horse racing, UK racing, and even various international sports like European football, NFL, and NBA to name a few.
This raises a the question, What happens if the UK government (or any government for that matter) decides to follow suit and restrict betting on the EPL to UK bookmakers only? The TAB wouldn’t be able to offer odds on these markets under such conditions.
Currently, we pay a point of consumption tax, but the NZ government has stated that this isn't enough to cover their costs. Following their logic, we shouldn't be able to bet on UK racing either, as we supposedly aren't contributing enough.
They justify these changes by claiming they're simply aligning with global standards for online betting. But if we can only bet on NZ sports and racing, what will the TAB’s books look like? It's hard to imagine a viable betting environment under such restrictions.
It seems this move is a reaction to the loss of nearly $140m of the TAB’s turnover due to the ban on greyhound racing. They argue that banning offshore sites will recoup about $100-180 million, but I suspect this won’t happen. People will likely move to Australian instead, rather than give up their livelihood and find a day job.
The other issue is this government fast tracks everything and it is stated that it will be a done deal by June 2025
This raises a the question, What happens if the UK government (or any government for that matter) decides to follow suit and restrict betting on the EPL to UK bookmakers only? The TAB wouldn’t be able to offer odds on these markets under such conditions.
Currently, we pay a point of consumption tax, but the NZ government has stated that this isn't enough to cover their costs. Following their logic, we shouldn't be able to bet on UK racing either, as we supposedly aren't contributing enough.
They justify these changes by claiming they're simply aligning with global standards for online betting. But if we can only bet on NZ sports and racing, what will the TAB’s books look like? It's hard to imagine a viable betting environment under such restrictions.
It seems this move is a reaction to the loss of nearly $140m of the TAB’s turnover due to the ban on greyhound racing. They argue that banning offshore sites will recoup about $100-180 million, but I suspect this won’t happen. People will likely move to Australian instead, rather than give up their livelihood and find a day job.
The other issue is this government fast tracks everything and it is stated that it will be a done deal by June 2025