- New Zealand TAB partners up with Paddy Power Betfair and OpenBet
- Sports betting industry to reach $20.4 million in New Zealand by 2021/2022, NZRB head says
- TAB to outpace international brands in the domestic market thanks to local expertise
New Zealand’s TAB has launched its new online betting venue, securing the partnership of flagship brands, such as Paddy Power Betfair and OpenBet.
TAB Launches with Paddy Power Betfair and OpenBet
New Zealand’s TAB bookmaker has managed to make quite the splash with its new sports betting portal announcing partnerships with two of the world’s best-known gaming brands, Paddy Power Betfair and OpenBet.
The new website will be powered by Scientific Games Digital (SG Digital) in-house sports betting platform that is already available for OpenBet. As part of the offer, TAB will enjoy a fixed-odds platform that will be incorporated in a mobile app.
The Future of Betting is here!
Our new website and mobile app has launched with a range of new features including cash out, favourites, online withdrawal and tens of thousands of new betting options. Check it out now! pic.twitter.com/uTZQrMjEij
— TAB Sport (@TAB_Sport) January 8, 2019
TAB intends to cover an extensive range of events and competitions, providing odds for most international competitions, such as NBA, NFL, soccer, NFL, and domestic sporting events. The move cost the NZRB $26 million.
The company is also using this opportunity to brush up on its existing live betting offer, improving significantly its in-play experience by offering the Cash Out feature, allowing players to withdraw bets while an event is still going on. According to media outlets, the launch of TAB has brought a great variety of betting odds and options.
According to New Zealand Racing Board (NZRB), the owner of TAB, the incorporation of the SG Digital software will improve upon the existing offer and significantly boost traffic and profit. Sports betting is expected to be worth $20.4 million (or NZ$30 million) by 2021 or 2022 at the latest. In the official statement published on NZRB’s website, NZRB CEO John Allen expressed his enthusiasm about the anticipated changes:
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.
Improving TAB’s offer is also a way to dissipate some of the fears raised in a recent Deloitte report, arguing that the NZRB is incapable to secure and develop the country’s gaming and sports betting industries.
According to Mr. Allen, the returns for the industry every year will fluctuate between NZ$17 million and NZ19 million. The app solution introduced with the help SG Digital has swapped out the rather old-dated one that used to be available on the website.
Mr. Allen also specified that the new tie-up between Paddy Betfair Power and OpenBet will allow TAB to gain an international profile, letting the bookmaker compete with established brands from across the world. The advantages for TAB a mix of international know-how and knowledge of the domestic market, Mr. Allen continued:
Openbet it gives us the flexibility to set our own odds on events where our local expertise outpaces the PaddyPower options.
The changes to the now renewed bookmaker have been long in the making, with the website outlining its plans for a change in 2017. Then, a delay occurred in August 2018, when TAB was supposed to go ahead with the launch, but more extensive testing was required at the time.