History Of NZRB
The New Zealand Racing Board has a long history of leading and promoting the industry domestically as well as promoting New Zealand racing to overseas markets.
NZRB has a proud legacy, stretching back to 1951 when the Totalisator Agency Board (TAB) was established as the sole betting operator in New Zealand. This was an internationally significant development as the TAB was the first off-course totalisator service in the world. Throughout that decade the TAB became the fastest growing business in New Zealand's history and, over 60 years later, its early growth record remains unbeaten.
Sports betting was introduced by the TAB in 1996 and is now a big part of our business. Grass roots sports are supported through the bets New Zealanders place on domestic and international sports events. The TAB is only permitted to take bets on sports that are represented by National Sports Organisations approved by Sport NZ. We currently distribute a percentage of our turnover and margin in levies to 32 National Sporting Organisations each year. The sport that benefited most from the bets New Zealanders placed in 2014/15 was basketball, which continues to edge out rugby as the number one betting sport for New Zealanders.
Over 50 years after the creation of the TAB, NZRB was established by the Racing Act 2003. The Act, which governs us today, states that the primary purpose of NZRB is to provide effective governance for the racing industry, run a profitable betting business, promote and enhance the industry and generate long term profit for the benefit of racing.