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Entain has announced the introduction of a new betting platform in New Zealand called Betcha.
This new platform is aimed at younger demographics in the region and has been launched as a direct response to the increasing threat of offshore betting operators.
Betcha will be run by Tab and Entain, though Betcha will be different from Tab as it won’t provide bettors with tote betting on racing, only fixed odds, while each will be run as two separate platforms, with current Tab customers needing to register a new account in order to use the Betcha platform.
Entain agreed to a partnership with Tab New Zealand in March of last year in what was a 25-year deal that was approved by New Zealand’s Minister for Racing in the May of 2023. Through this deal, Entain would take over the majority of Tab New Zealand’s day-to-day operations.
Tab was established in 1950 and the introduction of Betcha is the first time since then that another betting brand based in New Zealand has been launched, as the digital-only brand looks to appeal to bettors under 35.
Entain Australia and New Zealand Managing Director – New Zealand Cameron Rodger said: “In the three months to the end of June 2024, New Zealanders’ spending with offshore betting operators grew by 30%, continuing a trend over the last three or more years.
“Offshore spending is now estimated to be over $180m per annum and this is led by the growth in offshore spending doubling in the 18-29-year-old age band in the last five years.
“Their betting activity provides little to no benefit for the New Zealand racing and sports industries, and these offshore operators are under no obligation to provide the same level of harm minimisation support and account management tools that Betcha will make available for Kiwis.”
Entain Chief Marketing Officer Mel Kenneday added: “This new brand will emphasise the social and competitive value of sports and racing and introduce New Zealanders to the next generation of betting.
“This means we’ll be focusing on some of those events and sports that the newer generation have really shown interest in, like football, basketball and UFC, with Betcha confirmed as New Zealand’s official wagering partner for UFC.”
This news comes as Entain released its interim results for the first half of 2024, showing a 6% increase in total group net gaming revenue.
