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Speaker 1: Racing Minister Winston Peters wants to stop the leakage of

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Speaker 1: betting money to offshore gambling operators. He's going to change

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Speaker 1: the law and extend the tab's current land based monopoly

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Speaker 1: for sports and racing bedding to online, so to be

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Speaker 1: land and online. Nick Roberts is the TAB CEO. Welcome

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Speaker 1: to the show, Nick, great having.

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Speaker 2: You on, great to be here. Thanks very much for

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Speaker 2: having us.

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Speaker 1: Congratulations you've essentially just won the lottery, have you not.

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Speaker 2: Yeah, Look, we're really spoked with the decision from the

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Speaker 2: government enables the support and growth of racing and sport

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Speaker 2: in New Zealand, which is really what we're about here

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Speaker 2: at the New Zealand.

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Speaker 1: How much extra revenue will this bring you?

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Speaker 2: Oh, look, it's going significant over the course of history, right,

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Speaker 2: I mean, this is about setting up racing for the

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Speaker 2: long term. It's an economically somnificant part of New Zealand

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Speaker 2: and obviously sports is an iconic part of our country

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Speaker 2: as well. And the Paris results this year probably highlight

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Speaker 2: that better than anything.

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Speaker 1: One hundred and eighty billion dollars was lost by Keywis

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Speaker 1: to offshore betting from customer losses. Does that mean that

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Speaker 1: you will pack up hopefully you know, an excess of

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Speaker 1: one hundred million dollars.

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Speaker 2: Yeah. I mean it's obviously operational costs that come into

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Speaker 2: that as well, Ryan, but you know, there's no doubt

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Speaker 2: that that's a growing trend that's been significant amongst those

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Speaker 2: under thirty five. It's now see percent of the New

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Speaker 2: Zealand betting market. So bringing it back into the New

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Speaker 2: Zealand environment, we think is a great outcome, not only

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Speaker 2: for those funding outcomes you're talking about, but really to

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Speaker 2: boost minimization, making sure that that activity is in a

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Speaker 2: safe and regulated environment.

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Speaker 1: No, totally like that. I know that, I know your

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Speaker 1: your intentions of what you will do with that revenue,

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Speaker 1: that extra revenue, but can you just explain to us

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Speaker 1: exactly how it will work. At the moment, are young

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Speaker 1: people basically using any old offshore website to bet on

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Speaker 1: sports and once this change comes in, you will have

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Speaker 1: the jurisdiction here. What is to stop these young people

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Speaker 1: from continuing to use their preferred overseas you know, market look.

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Speaker 2: At a really great question, and they're always going to

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Speaker 2: be those that probably have the technical will to get

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Speaker 2: around these things. But we don't think that's going to

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Speaker 2: be a high number of people. We think most people

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Speaker 2: you know will participate with the local operator and know

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Speaker 2: that these global brands will want to make sure that

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Speaker 2: they stay trusted in the places where they will still

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Speaker 2: be permitted to operate, and we'll comply with the New

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Speaker 2: Zealand law and won't let people sign up to accounts

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Speaker 2: when they say they're from New Zealand.

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Speaker 1: What sort of punishment do you think they should get

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Speaker 1: if they don't abide by what Winston Peters tells them.

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Speaker 2: Look, it's ultimately a question for the government at the stage.

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Speaker 2: We do expect them to comply and they say they're

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Speaker 2: the large majorities off sure operators are the global companies

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Speaker 2: and they have reputations to uphold them and several jurisdictions

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Speaker 2: around the world.

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Speaker 1: Nick, I keep getting advertising for Bitcher, which I know

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Speaker 1: is it comes under you guys? Why am I getting that?

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Speaker 1: I don't bet so? Why am I getting the advertising?

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Speaker 1: Is it because I'm allegedly on the younger side?

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Speaker 2: Lot the Beach is a really fun new brand that

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Speaker 2: our partner's in have delivered to the New Chiland market.

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Speaker 2: A distinctively ky we site. What that Butcher is trying

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Speaker 2: to do is to make sure that when faced with

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Speaker 2: the opportunity to bet with the local operator, that people

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Speaker 2: aren't turned off by the Tavy brand, which for some

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Speaker 2: unfortunately has become a little bit outdated or part of

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Speaker 2: their sort of maybe their father's brand, So they want

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Speaker 2: to try something new and exciting. So yeah, we're really

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Speaker 2: tough to see betcher into the market, and we think

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Speaker 2: it's doing and doing them things brilliant.

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Speaker 1: Nick, Thank you very much for that. Nick Roberts is

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Speaker 1: the TAB CEO Winston Peters basically trying to block the

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Speaker 1: rest of the world from offering gambling to especially young

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Speaker 1: people who like to gamble online, making it exclusively the

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Speaker 1: right of t a B to do that. Ryan Lowell,

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Speaker 1: it's called a VPN. This guy is dreaming. This is

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Speaker 1: one of our texters just now people. Basically people can

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Speaker 1: get around these kind of blocks, which I guess you can.

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Speaker 1: But if the TAB is offering it, why wouldn't you

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Speaker 1: just use the TAB? Is it going to be more

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Speaker 1: expensive for you?

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Speaker 2: Ryan?

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Speaker 1: The TAB is concerned about gambling, so they just so

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Speaker 1: people should just gamble through us. Yeah, I get it,

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Speaker 1: I get it. There's a little bit of irony in that.

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Speaker 2: For more from Hither Duplessy Allen Drive, listen live to

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Speaker 2: news talks it'd be from four pm weekdays, or follow

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Speaker 2: the podcast on iHeartRadio