TAB
The NZ Racing Board’s income comes from TAB betting revenue. The NZ Racing Board operates 650 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 and fixed-odds betting 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.
In the 2009/10 racing year, approximately $125 million was returned to the New Zealand racing codes and more than $3 million was returned to New Zealand sporting bodies. Nathan Guy is the current Minister of Racing.
Read more about this topic: New Zealand Racing Board