Winston Peters. Photo: RNZ / Samuel Rillstone
Racing Minister Winston Peters wants to bring in legislation to extend the TAB's current monopoly over sports and racing betting to also cover online betting.
The TAB was established to fund the racing industry, and it provides 90 percent of the industry's revenue.
Peters said the legislation he is introducing will amend the Racing Industry Act 2020.
"This legislation will enhance the long-term sustainability of New Zealand's racing industry by making TAB NZ New Zealand's sole provider for sports and race betting both on land and online.
"Growing competition from offshore online betting operators poses a significant threat to the TAB NZ model."
The Bill makes a number of other changes which Peters said would support the success of TAB NZ, including new oversight powers for the minister to seek information from TAB NZ, and regulatory oversight of the prohibition on other operators.
The Bill will be referred to the Governance and Administration Committee for a select committee process.
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