Punters to get access to massive Hong Kong pools

Punters to get access to massive Hong Kong pools

From today Kiwi racing punters will be able to bet into Hong Kong’s multimillion dollar pools following an agreement between the TAB and the Hong Kong Jockey Club.

New Zealand Racing Board Wagering Consultant Martin Saunders says the TAB has joined a select group of international agencies approved to commingle into Hong Kong pools.

“Our intention has always been to give our customers in New Zealand the opportunity to bet into ‘native’, or home field, pools and this allows us to do that.

“We’ll be commingling into win, place and quinella pools initially, then into other pools including trifecta from next year and, in time, the huge dividend-bearing Triple Trio,” says Mr Saunders.

TAB customers will reap the rewards of the deal, says Saunders.

“Most importantly, it will reduce the volatility that can occur in smaller pools, skewing win and place dividends.”

The arrangement with Hong Kong follows a taxation law change by the region’s Legislative Council allowing commingling with overseas operators.

“Longer term, the goal is to have Hong Kong customers betting into New Zealand, which will be a real boost to liquidity of our domestic pools,” says Saunders.

The TAB will be commingling directly into Hong Kong via a hub arrangement with international partner Tabcorp.

In addition, the TAB will commingle First4 and Quaddie pools on Hong Kong racing directly with Tabcorp.

ENDS

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