TAB Gaming Draught Hits NZ Sports Organisations Hard
Punters that gamble on some obscure international competitions could hold the key to New Zealand sports organizations staying afloat amidst the pandemic outbreak. With the global pandemic seeing the closing of the majority of world sport, it means the sports gaming market is also in for a heavy hit. This now means disastrous consequences for Kiwi sporting bodies, which could be on the brink of shutting down because they rely on commission payments made to them by the TAB.
Every code in the country gets a cut of the cash which is staked on that sport through the TAB, or whatever the competition is. The Kiwi sport that has the largest handout is basketball, all thanks to the NBA’s sheer volume of fixtures and great profile.
New Zealand Sports Betting Sees the Biggest Hit in 2020
On July 31, 2018, Basketball New Zealand got $2 million from the TAB, which is representing about 30 percent of BBNZ’s total revenue, and also about 80 percent of that money came from NBA betting. However, with the NBA suspended open-endedly, there is sure to be a big flow-on effect if the season gets cut short.
“It’s affecting us at every level, right down to associations and communities have to consider the activities that they run and how they manage through this period we facing,” – Iain Potter, BBNZ chief executive told TVNZ.
“If the NBA does not recommence its season, we will be $650,000 short of what income we thought we would get.”
TAB failed to comment on Wednesday about the effect they face, or how they have now adapted, in the unparalleled situation, with Racing Industry Transition Agency head of public affairs, Ian Long, telling Stuff: “This moves by the day. I hope to have a stronger view on the situations by the end of the week.”
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