New Zealand’s national bookie, The Racing Board, has signed agreements with two leading listed companies in order to compete internationally by developing its fixed-odds betting market.
The Racing Board of NZ operates the TAB and has selected both OpenBet (part of NYX Gaming Group) and Paddy Power Betfair, based in Dublin, to supply both supporting data and technology for its fixed-odds betting business.
Both these global bookie specialists have been selected to ensure higher profits and enable the Racing Board to realize their strategy of building a sustainable long-term future in racing and sports betting in the country. They are also known for their strengths in sport, in-play wagering and digital; areas recognized as the biggest growth opportunities for the RB.
The Board estimates that this platform for fixed-odds betting, once implemented, will contribute between $17 million-$19 million in annualized profits.