Betting Levy to be repealed

Media Release - Friday May 17

Racing Minister Winston Peters has announced a repeal of the betting levy (racing totalisator duty) currently paid by the racing industry to the Crown.

Winston Peters - image Trish Dunnell

Winston Peters - image Trish Dunnell

Peters made the pre-Budget announcement when opening the New Zealand Bloodstock Karaka May Sale in Auckland on Friday.

Peters announced that payment of the levy to the Crown will be phased out over a three-year period, with freed-up funds to be redirected to the racing and sports sectors.The betting levy represents 4 percent of betting profits which amounted to $13.9 million in 2018.

"Redirecting the betting levy is a step towards revitalising of the racing industry. It was a recommendation of the Messara review of the racing industry, and was endorsed by the Ministerial Advisory Committee (MAC)," Peters said.

"The funds will be redistributed to the racing Codes and Sport New Zealand, with a proportion set aside to support the reduction of gambling harm.

"This change will provide an important source of revenue for industry investment decisions," Peters said.

"The racing industry plays a vital role in the New Zealand economy, having contributed $1.6 billion to the economy in 2016/17 whilst employing tens of thousands of New Zealanders, many of them young, and boosting New Zealand's exports.

"It is important that the industry is revitalised and placed on a sustainable footing for the future. Redirecting the betting levy funds is only one of a number of steps the government is undertaking."

Last month the Minister also announced a Government agreement to a stepped response to the Messara Report, introducing two new pieces of legislation to bring new governance arrangements and other sources of industry revenue. – NZ Racing Desk

More Reading...
Profondo Weanlings Impress
The first progeny of Windsor Park Stud stallion Profondo made a favourable impression during the NZB National Weanling Sale at Karaka on Thursday.
Sires With Winners - Thursday June 26
Here is the full list of 42 stallions which had winners throughout Australasia today with winners and result details.
Storm Boy Retired to Coolmore Australia
An utterly dominant winner of the $3 million Magic Millions 2YO Classic, the hugely exciting son of the international sire sensation Justify is set to join the Coolmore Australia roster in 2025.
Sires With Winners - Tuesday June 24
Here is the full list of 27 stallions which had winners throughout Australasia today with winners and result details.
Do Early Winners Equate to Long Term Stud Success?
As we move towards the end of the racing season, attention invariably focuses on first season sires and who will be the leader of the cohort by winners and it’s a close run race this year, but does any of it matter in the grand scheme of things?
Sires With Winners - Wednesday June 25
Here is the full list of 42 stallions which had winners throughout Australasia today with winners and result details.
Breeding To Win – 2025 G1 Tatts Tiara
With Royal Ascot done and dusted for another year, let's turn our attention to the final G1 of the Australian racing season as some very expensive mares seek to land that elusive G1 and three runners will carry the Yulong colours!
Irish Oaks Possible for Royal Ascot Fairytale Filly
The biggest story in terms of our audience reads from Royal Ascot last week was by far and away the one on the Aussie owned underdog three year-old filly Cercene, who captured the Group I Coronation Stakes.
Flying Artie 2YO Wins by Four!
Blue Gum Farm have an appealing roster of three sires for this spring and while it’s all in front of Sejardan and Oxley Road, proven favourite Flying Artie remains unbeatable value and the G1 sire produced a four length 2YO winner on Thursday.
$190,000 Per Incanto Colt Tops NZB Weanling Sale
Little Avondale stallion Per Incanto’s outstanding season carried on in the Karaka sale ring on Thursday, where his weanling colt fetched a sale-topping $190,000 in the opening hour of the NZB National Weanling Sale.