Racing: Combined betting pool step closer

A combined betting pool for New Zealand and Australian racing became a step closer yesterday.

The New Zealand Racing Board (NZRB) and Australia's Tabcorp announced the signing of an agreement to promote a closer relationship, with the combining of betting pools at the top of the agenda.

Also on the list was increased coverage of each other's racing. Tabcorp holds the betting licences for New South Wales and Victoria.

The idea of combining betting pools has been around for years but it was only last month that NZRB chief executive Graeme Hansen said that it could be implemented by early next year.

One betting pool should be advantageous for punters.

If, for example, New Zealand is betting on Australian greyhound races, the New Zealand betting pools are often very small.

As a consequence dividends fluctuate wildly with most betting taking place in the last few minutes before race start.

This is frustrating for punters who see dividends reduce dramatically after they have placed their bet.

With one betting pool, where what is bet in New Zealand is combined with the Australian pool, the fluctuation of dividends would not be so marked.

- NZPA