TAB New Zealand (TAB NZ), formerly the New Zealand Racing Board (NZRB) and the Racing Industry Transition Agency (RITA), now the TAB again, is a statutory

monopoly A monopoly (from Greek language, Greek el, μόνος, mónos, single, alone, label=none and el, πωλεῖν, pōleîn, to sell, label=none), as described by Irving Fisher, is a market with the "absence of competition", creating a situati ...

for New Zealand

sports betting Sports betting is the activity of predicting sports results and placing a wager on the outcome. The frequency of sports bet upon varies by culture, with the vast majority of bets being placed on association football, American football, basket ...

, including

betting Gambling (also known as betting or gaming) is the wagering of something of value ("the stakes") on a random event with the intent of winning something else of value, where instances of strategy are discounted. Gambling thus requires three eleme ...

horse racing Horse racing is an equestrian performance sport, typically involving two or more horses ridden by jockeys (or sometimes driven without riders) over a set distance for competition. It is one of the most ancient of all sports, as its basic p ...

and

greyhound racing Greyhound racing is an organized, competitive sport in which greyhounds are raced around a track. There are two forms of greyhound racing, track racing (normally around an oval track) and coursing; the latter is now banned in most countries. Tra ...

. It was established under the Racing Act 2003 to operate the TAB, promote the racing industry and maximise the profits of the industry. It broadcasts racing on two television channels TAB Trackside 1 and TAB Trackside 2. The Board has an obligation under the Racing Act to regulate and improve the New Zealand racing industry. It must schedule the racing calendar to maximise profit. It must promote wider ownership of racehorses and greyhounds, and best practice amongst racing clubs and racing events. It must also aim to improve the technology and efficiency of the industry, improve the atmosphere of race day events and improve the facilities of racing venues.

TAB

The NZ Racing Board's income comes from TAB betting revenue. The NZ Racing Board operates around 675 TAB outlets throughout New Zealand as well as On-course Tote Terminals, Internet, Phonebet and Touch Tone wagering channels. TAB Touch Tone, Phonebet and Internet wagering channels service more than 170,000 TAB account holders. The TAB offers a wide range of

totalisator A tote board (or totalisator/totalizator) is a numeric or alphanumeric display used to convey information, typically at a race track (to display the odds or payoffs for each horse) or at a telethon (to display the total amount donated to the chari ...

and

fixed-odds betting Fixed-odds betting is a form of wagering against odds offered by a bookmaker or an individual or on a bet exchange. It involves betting on an event in which there is no fluctuation on the payout. In Australia, the practice is usually known as "SP ...

products. Just over 80 percent of the totalisator betting dollar is returned to the customer. The rest is returned to the racing and sporting codes, after tax and NZ Racing Board costs.

TAB wagering channels

The TAB has several different wagering channels, tailored to meet the requirements of its vastly varying customers: * Betting at racetracks on raceday * A national network of streetfront and social venue betting shops, one of New Zealand's largest retail networks * A national chain of call centres. The Phonebet centres handle more operator-assisted calls than any other New Zealand call centre * New Zealand's only betting website, www.tab.co.nz * A Touch Tone phone betting service * A mobile application on Android and iOS * Other betting channels exploiting emerging new technologies are in development. Wagering channels are constantly evolving to provide a premium standard of customer service.

TAB wagering products

The TAB initiated the world's first Government-run totalisator wagering service in 1951. Today a growing range of tote bet types is on offer, from win, place and each way to Poker and All Up bets, Easybets where the computer picks the runners, weighted towards the favourites, and Percentage betting to cut the cost of placing a bet. In 1996 it added fixed-odds betting to its stable when the TAB began sports betting. Now 31 sporting codes are covered including matches and fixtures around the world, from

rugby football Rugby football is the collective name for the team sports of rugby union and rugby league. Canadian football and, to a lesser extent, American football were once considered forms of rugby football, but are seldom now referred to as such. The ...

soccer Association football, more commonly known as football or soccer, is a team sport played between two teams of 11 players who primarily use their feet to propel the ball around a rectangular field called a pitch. The objective of the game is ...

and

cricket Cricket is a bat-and-ball game played between two teams of eleven players on a field at the centre of which is a pitch with a wicket at each end, each comprising two bails balanced on three stumps. The batting side scores runs by striki ...

sheep shearing Sheep shearing is the process by which the woollen fleece of a sheep is cut off. The person who removes the sheep's wool is called a '' shearer''. Typically each adult sheep is shorn once each year (a sheep may be said to have been "shorn" or ...

. As with race betting, a proportion of every betting dollar is returned to the New Zealand sporting code on which the bet is taken. The choice of sports betting products included head to head, half / full-time double, winning team and margin, and more. Fixed odds betting is also available on racing, through Futures books, and Final Field. In June, 2007

Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

n racing product became available to New Zealand customers through the commingling of the Australian Super TAB and New Zealand totalisator pools. More recently the

Tabcorp Tabcorp is Australia's largest gambling company, employing more than 5,000 people. It is the largest provider of wagering and gaming products and services in Australia. Tabcorp is listed on the Australian Securities Exchange (ASX). History In ...

agreement has been extended to include Australian wagering on New Zealand racing product. Commingled pools and the expansion of the New Zealand and Australian race programmes provides increased wagering opportunities for customers in both countries. The New Zealand TAB now also take betting on a selection of races from America, England, Hong Kong, Japan, France and Singapore.

Spam complaint

In August 2011, the TAB was subject to a spam complaint with the Department of Internal Affair

Impact of COVID-19 pandemic

On 26 May 2020, the TAB announced that 230 staff, or approximately 30 percent of its workforce, would be made redundant as a result of the financial impact of the

COVID-19 pandemic in New Zealand The COVID-19 pandemic in New Zealand is part of the ongoing pandemic of coronavirus disease 2019 () caused by severe acute respiratory syndrome coronavirus 2 (). The first case of the disease in New Zealand was reported on 28 February 2 ...

Responsible gambling

The New Zealand Racing Board, under the Racing Act 2003 and associated Regulations, is required to report on programmes relating to

problem gambling Problem gambling or ludomania is repetitive gambling behavior despite harm and negative consequences. Problem gambling may be diagnosed as a mental disorder according to ''DSM-5'' if certain diagnostic criteria are met. Pathological gambling is ...

, to provide information and advice on problem gambling and to provide problem gambling training. Since its establishment the NZ Racing Board has taken a proactive stance in meetings its responsibilities for harm prevention and minimisation. Initiatives include: * Self exclusion programmes * Problem gambling awareness workshops for drug addicts * Staff intervention policies * Tools such as maximum bet and loss limits for account holders

Racing

Racing is a long-established sport in New Zealand, with a tradition stretching back to colonial times. Today, the New Zealand racing industry is a major contributor to the New Zealand economy as well as local communities across New Zealand. Racing generates more than $1.4 billion in economic activity each year and creates the equivalent of 18,300 full-time jobs. More than 40,000 people derive their livelihoods from the New Zealand racing industry, not to mention accommodation, travel, fashion and entertainment providers who all benefit from the industry's economic wellbeing. More than one million people have attended race meetings across New Zealand and spent in excess of $55 million on wagering, food, beverages, transport and accommodation in a year. There are 69

thoroughbred The Thoroughbred is a horse breed best known for its use in horse racing. Although the word ''thoroughbred'' is sometimes used to refer to any breed of purebred horse, it technically refers only to the Thoroughbred breed. Thoroughbreds are c ...

, 51

harness A harness is a looped restraint or support. Specifically, it may refer to one of the following harness types: * Bondage harness * Child harness * Climbing harness * Dog harness * Pet harness * Five-point harness * Horse harness * Parrot harness * ...

and 12

greyhound The English Greyhound, or simply the Greyhound, is a breed of dog, a sighthound which has been bred for coursing, greyhound racing and hunting. Since the rise in large-scale adoption of retired racing Greyhounds, the breed has seen a resurge ...

clubs licensed to race in New Zealand. Racecourses are situated in 59 locations throughout New Zealand. In the racing year from 1 August 2009 to 31 July 2010, 10,106 races were held throughout New Zealand. Further to this the New Zealand Racing Board carried 35,323 overseas races on their network, for a total of 45,439 races covered for the year, an increase of approximately 27% over the previous year. The bloodstock industry is of international importance to New Zealand, with the export sale of horses – mainly to Australia and Asia – generating more than $120 million a year. New Zealand-bred runners compete very well overseas and regularly win major races, with a particularly good record in Australian distance races. A major source of funding for the racing industry is returns from betting on racing and sports, which is conducted by the New Zealand TAB, the retail arm of the New Zealand Racing Board. The New Zealand Racing Board is a co-ordination point for the three racing codes. They are operated by the three governing bodies, New Zealand Thoroughbred Racing (gallops), Harness Racing New Zealand (

trotting The trot is a ten-beat diagonal horse gait where the diagonal pairs of legs move forward at the same time with a moment of suspension between each beat. It has a wide variation in possible speeds, but averages about . A very slow trot is someti ...

and pacing) and New Zealand Greyhound Racing. The Judicial Control Authority (JCA), established in 1996, is the legal body that administers the rules of racing and conducts inquiries into breaches of the rules, for all three racing codes. The JCA ensures that judicial and appeal proceedings in racing are heard and decided fairly, professionally, efficiently, and in a consistent and cost effective manner. The current focus of the JCA is on contributing to consumer confidence in the racing product.

Board members

The management of the business and affairs of the New Zealand Racing Board takes place under the direction of its governing body, the Board. The seven-member board contains a representative from each of the three codes (greyhound, thoroughbred and harness racing) as well as three independent appointed Board members and the Board Chairman. Current members are Glenda Hughes (Independent Chair), Rod Croon (Harness Code nominee), Greg McCarthy (Thoroughbred Code nominee), Mauro Barsi (Greyhound Code nominee), Alistair Ryan (Independent Member), Graham Cooney (Independent Member) and Barry Brown (Independent Member).

Governance

The Board has formally constituted three Board committees - the Dates Committee, the Audit and Finance Committee and the Compensation and Development Committee. These committees support the Board by considering relevant issues at a suitably detailed level and reporting back to the Board. Each committee has a written

charter A charter is the grant of authority or rights, stating that the granter formally recognizes the prerogative of the recipient to exercise the rights specified. It is implicit that the granter retains superiority (or sovereignty), and that the rec ...

s setting out their roles and responsibilities, membership, functions, reporting procedures and the manner in which they are to operate. The structure and membership of each committee is reviewed annually.

Dates Committee

The Dates Committee is established in accordance with section 42 of the Racing Act 2003, which requires the committee to determine, following consultation with each of the recognised industry organisations, the annual racing calendar that betting will take place on.

Audit and Finance Committee

The Audit and Finance Committee assists the Board in discharging its responsibilities with respect to financial reporting and the

financial risk management Financial risk management is the practice of protecting economic value in a firm by using financial instruments to manage exposure to financial risk - principally operational risk, credit risk and market risk, with more specific variants as liste ...

practices of the NZRB, the work and performance of the internal audit function and the NZ Racing Board's external auditor, Deloitte.

Compensation and Development Committee

The Compensation and Development Committee's purpose is to monitor issues and determine policies and practices related to the remuneration and review of the

Chief Executive A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

and the

senior management Senior management, executive management, upper management, or a management is generally individuals at the highest level of management of an organization who have the day-to-day tasks of managing that organization—sometimes a company or a corpor ...

team, as well as overseeing the management development and succession planning process.

Leadership

In late November 2014 the Board of the NZ Racing Board announced the appointment of John Allen as the organisation's new CEO. John Allen commences his role in early March 2015.

References

* *New Zealand's Department of Internal Affairs 11 November 2005. Retrieved Feb.15 200

*New Zealand Racing Board (2005)

Retrieved 15 February 2006. *New Zealand Racing Board Annual Report 200

Retrieved Feb.15 2006

External links

New Zealand Racing Board

TAB
{{COVID-19 pandemic in New Zealand Sports governing bodies in New Zealand, Racing Gambling regulators Gambling in New Zealand Gambling companies of New Zealand Horse racing organizations Regulation in New Zealand

TAB