New Zealand racing goes live with OpenBet and PPB-powered platform

Punters in New Zealand are now able to bet on the new “modern, innovative and competitive” TAB website and mobile app developed by OpenBet and Paddy Power Betfair (PPB).

The New Zealand Racing Board’s (NZRB) new fixed-odds betting platform launched on Monday having been in development since January 2017, when OpenBet and PPB beat out several rivals including Ladbrokes and Tabcorp, in an open RFP process.

OpenBet handles the tech aspects of the platform, with PPB providing pricing.

NZRB CEO John Allen described the software as a “game-changer for the racing industry in New Zealand”, estimating the initiative will immediately increase industry returns by up to $19m annually by adding modern sportsbook features like cash-out and improved in-play betting.

By transferring core functions from its old Jetbet system to the new OpenBet platform, the NZRB is also able to set its own odds for events where “local expertise outpaces Paddy Power options”.

Allen, who also predicted racing industry profits could increase by $30m by 2021/22, said: “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 enhance the number of betting opportunities we can offer.

“We’ve replaced our existing website and app with a responsive, modern and easy to navigate site that delivers more products and events. Our customers will have access to more options than ever before on sporting events from around the world.”