Plain language law

New Zealand law explained for everyone

Racing Industry Act 2020

TAB New Zealand

57: Objectives of TAB NZ

You could also call this:

“TAB NZ's main jobs: help people bet and make money to support racing and sports”

TAB NZ has two main goals. First, they want to make it easy for you to place bets and encourage betting. Second, they want to make as much money as possible. This money is meant to help New Zealand racing in the long run and support New Zealand sports. However, when trying to make money, TAB NZ must be careful. They need to make sure they don’t cause problems with gambling addiction or let young people gamble. TAB NZ gives money to sports groups based on agreements they have made. You can find more information about these agreements in sections 79 and 80 of the law.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS292105.

Topics:
Money and consumer rights > Gambling Business > Industry rules
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56: Selection panel, or

"A group of people helps choose who will run TAB New Zealand"

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58: Functions of TAB NZ, or

"TAB NZ's jobs: planning races, managing betting, and helping the racing industry"

Part 3 TAB New Zealand

57Objectives of TAB NZ

  1. The objectives of TAB NZ are—

  2. to facilitate and promote betting; and
    1. subject to ensuring that risks of problem gambling and underage gambling are minimised, to maximise—
      1. its profits for the long-term benefit of New Zealand racing; and
        1. its returns to New Zealand sports in accordance with agreements entered into under sections 79 and 80.

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