Future of betting in NZ gets a trial flutter today

The future of betting in New Zealand arrives at Ellerslie today.

Although the country’s biggest betting syndicate has already bet $31,300 on a fixed odds quinella today, regular punters will have to wait a few more weeks for the fixed odds exotic betting options which will change the way people bet.

The TAB is weeks away from launching fixed odds quinella, exacta and trifecta betting on all New Zealand races, which means punters will be able to take those bets knowing the potential returns.

For now, quinellas and trifectas are available only on tote pools, meaning punters have to wait until after the race to know the dividend should they win.

There is no exacta (first and second in the right order) betting in New Zealand but that will be available under the new fixed odds options.

The move is the latest in many betting operators worldwide moving more towards fixed odds and away from tote pools, with the obvious exception of Hong Kong.

“We think punters will like knowing what their potential returns will be and it will be particularly helpful at meetings where the exotic pools aren’t that big,” says TAB bookie Thad Taylor. “It means we will cop some decent losses from time to time.”

The TAB will provide a soft opening of fixed odds exotics in the $1 million Karaka Classic at Ellerslie today but only as a test case for online racing group Boys Get Paid.

The BGP have $180,000 to bet as part of their members syndicate on today’s meeting and have placed $31,300 on the Aegon-Amarelinha fixed odds quinella at $2.60 but the option isn’t open to the public.