Sights fixed on Singapore opportunit

Media Release
May 19, 2011

Sights fixed on Singapore opportunity

The New Zealand Racing Board will offer Fixed Odds Betting on selected races in Singapore from May 22 as part of its drive to create more international opportunities and benefits for the New Zealand racing industry.

The TAB's new Fixed Odds Betting service will be trialled starting with racing from Singapore on Sunday evenings (NZT), with plans to add Fixed Odds betting on Friday night racing from Singapore at a later date.

The first opportunity comes on Sunday, May 22, with feature racing including the Singapore International Cup and the Krisflyer International Sprint from Kranji.

In time it is anticipated Fixed Odds Betting will be available on all Singapore racing.

NZ Racing Board General Manager Wagering, Racing and Sport Martin Saunders said the new service would enhance turnover of Singapore racing and cement the country as a key area for growth through significant export opportunities for the New Zealand thoroughbred racing industry.

"Singapore is a very important market for us and wagering turnover on Singapore racing has increased 40% year-on-year on the back of a 59% increase in the amount of races we have taken. Its importance to our breeding industry shouldn't be understated and Singapore offers a very attractive export opportunity for our bloodstock.

"The Fixed Odds initiative and opportunities for our broadcast team, including enhancements to our preview and review programmes, are expected to further raise the profile of the region's racing to our customers."

The Fixed Odds offering provides customers with an additional market in which to wager.

"We currently have our own totalisator pool on Singapore racing. By adding a Fixed Odds opportunity we can offer the best of both worlds, giving our customers the choice of two markets."

"New Zealand-bred horses made up just shy of 40% of the horse population in Singapore in 2010 and they notched up 323 wins," said Mr Saunders.

"In season 2010/11 five of our domestic Group 1 races were broadcast in Singapore and we are working to increase the amount of New Zealand racing shown there and elsewhere in the world."

A portion of turnover generated on Fixed Odds Betting will go toward supporting Singapore racing.

ENDS

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