Racing: Combined pools on way

Midweek morning racing is a possibility in New Zealand.

That's one of the options from the looming pooling of the resources of New Zealand's TAB and its Australian counterpart, Tabcorp.

Tabcorp and TAB this week signed a temporary agreement to combine the two betting pools, probably starting as early as January or February next year.

NZ Racing Board CEO Graeme Hansen said the only two remaining issues to be resolved were to ensure the two TABs' computer systems could "talk" to each other.

"Most of that has already been done," said Hansen.

"There are still a couple of minor things to be done, but neither TAB wants to be tinkering with their computers coming up to the Melbourne, so while there is a small window of opportunity there now, the work will be left until after the Spring Carnival."

The second issue is to obtain consent from New Zealand's regulatory bodies - but with the benefits being obvious, that should be a formality.

As recently as this year it appeared combining the pools might still be two or three years away.

"It's taken too long already," said Hansen.

The first benefit to New Zealand racing will be that our punters will be able to bet into hugely bigger pools.

Because of the near-certainty of big bets dramatically reducing the odds in pools the size New Zealand generates, punters have been put off large investments, or have bet into overseas agencies with commissions lost to local racing.

The financial advantage to Tabcorp has been estimated at A$5 million ($5.9 million) a year on current turnover levels and estimates are that it will be even more beneficial to New Zealand.

Hansen believes there are untapped revenue streams, such as starting midweek race meetings earlier to expanding the number of New Zealand races currently being bet on in Australia.

Apart from New Zealand races, Australians have little to bet on before 2pm New Zealand time.

Tabcorp currently bets on New Zealand racing on Wednesday, Thursday and Saturday and the new agreement is certain to widen that scope.

Under the agreement, Tabcorp's racing broadcaster, Sky Channel, will act as the international broadcast agent for the NZ Racing Board, allowing Sky to sell and market New Zealand races to other countries.