TAB NZ, the New Zealand online gambling platform that offers betting on various sports, has made an unprecedented announcement.
For the majority of the spring, there will be no deductions on final field bets.
This is surprising because any scratchings that take place after the initial bet usually reduces the return of the final bet.
Simply put, if a punter bets $5 on a horse in a final field and the $2 favourite for that race is scratched after placing the bet, that reduces the return of $5 to only $3.
With TAB NZ’s new rule, the scratchings no longer affect the punter’s winnings.
If the punter bets $100 and wins, he gets the $100 without any deductions.
The maximum bet allowed by TAB NZ is $2000, so a lucky punter could get exactly $2000.
Why did they implement this rule?
This is a really bold move from TAB NZ. It encourages more punters to bet on racing, now that they are guaranteed to win as much as they bet, without any deductions.
This daring promotion tactic takes place as a result of the losses suffered due to New Zealand punters using the services of Australian bookmakers.
TAB NZ offers betting on a variety of sports, from racing to rugby, cricket, American football and more.
The most popular gambling for Kiwis appears to be betting on Thoroughbreds, Harness and Greyhounds.
TAB NZ offers all the information clients need and allows them to look up all the currently available tracks.
Through TAB NZ, gambling enthusiasts can place as many bets as they like on multiple races.
They are a very serious company with excellent security, whose main goal is to provide their clients with a great gambling experience.
What will happen next?
TAB NZ’s decision may be a very risky move.
New Zealand does not have a huge gambling culture as other countries do, meaning there are already very few dedicated gamblers, to begin with.
Convincing them to use the services of TAB NZ may not guarantee the increase in profits they need to fight back against bookies.
The no-deductions rule would definitely achieve the goal of driving more attention and players to the platform. It potentially encourages more people to get into race betting.
The guarantee that you will win as much as you bet is a very enticing one.
Time will tell if TAB NZ’s new rule was a good business decision.