New Zealand’s TAB has partnered with SG’s OpenBet and Irish bookmaker, Paddy Power, in a $26m relaunch of its sports betting site.
The monopoly operator’s new fixed odds platform and mobile app will be powered by OpenBet’s technology, while Paddy Power’s sportsbooks will provide the odds for inter- national events.
Crucially the new site will now offer cashout for the first time, and boost in-play betting with greater coverage.
Having lost market share to offshore rivals in recent years, TAB’s owner, the New Zealand Racing Board (NZRB) said the new website and app would be “game-changer” for New Zealand.
“This is the dawn of a new era for the NZRB and for New Zealand betting customers as we deliver a more compelling betting experience and significantly enhancing the number of betting opportunities we can offer,” says NZRB chief executive John Allen.
“We’ve replaced our existing website and app with a responsive, modern and easy-to- navigate site that delivers more products and events.
“The new platform will also be a game-changer for our core business, improving business stability and continuity and by moving a number of core functions managed by our old system Jetbet, into a new plat- form provided by Openbet it gives us the flexibility to set our own odds on events where our local expertise outpaces the Paddy-Power options.”
Gambling is a healthy and expanding sector in New Zealand, with residents wagering $2.3bn last year – up six percent.
The relaunch is estimated to raise annual profits for the operator by NZ$30m within two years.