It has been announced that a piece of racing legislation set to be introduced in the near future will call for the legalization of mid-race wagering on horse races in a Down Under racing jurisdiction.
According to an article by the Otago Daily Times, New Zealand MP Nathan Guy has let it be known that he will soon introduce the Racing Act amendment, which is better known throughout the industry as the ‘racing fields’ legislation.
The bulk of the bill deals with rates and fees that foreign betting agencies will have to pay in order to use intellectual property from NZ races and sporting matches. The capital from those rates and fees will help stabilize New Zealand racing. A small, yet very significant aspect of the bill also calls for the introduction of live wagering options during races.
According to the report, Harness Racing New Zealand Chairman Ken Spicer has lauded the news that the legislation will finally be introduced to parliament, as the industry has been waiting years for such a bill.
The TAB has confirmed that live-betting options on horse races will be introduced if the legislation is passed, but the TAB could not provide any specific details of its plans.
The New Zealand Racing Board, which operates the TAB, also commented on the news, stating, "NZRB is also continuing to work on improving its competitiveness to enhance our customers experience and ensure they can receive the same level of service and options as they find offshore."
(With files from the Otago Daily Times)