Kiwis spend $2 billion on sports betting

Stuff.co.nz – A record nearly $2 billion was spent on sports betting and the racing industry’s poker machines in New Zealand last year, the New Zealand Racing Board says. New Zealand’s racing industry gets the greatest windfall from the board’s record financial result announced this morning, receiving about $142 million in dividends as a result. The Racing Board, which was established in 2003 under the Racing Act to run the TAB in New Zealand, announced a net profit of $144.1 million for the year ended July 31. This was up 13.2 per cent on the previous year’s profit and was…