Entain has announced the launch of a new betting platform called Betcha in New Zealand.
The new platform is mainly targeted at the younger demographic in the region, and its launch is in direct response to the growing threat of offshore betting operators.
Betcha will be operated by Tab and Entain, but it will differ from Tab as it will not offer horse racing bets, only fixed odds, and each platform will function as two separate entities. Existing Tab customers will need to register a new account to use the Betcha platform.
In March last year, Entain reached a 25-year agreement with Tab New Zealand, which was approved by the New Zealand Minister of Racing in May 2023. Through this agreement, Entain will take over much of the daily operations of Tab New Zealand.
Tab was established in 1950, and the launch of Betcha marks the first New Zealand-based betting brand since then, as this purely digital brand aims to attract gambling players under the age of 35.
Entain’s Director-General for Australia and New Zealand, Cameron Rodger, commented: “In the three months up to the end of June 2024, there has been a 30% increase in the amount New Zealanders spend on offshore betting operators, continuing a trend that has been observed for the past three years or more.
“It is currently estimated that overseas spending exceeds 180 million USD annually, primarily due to overseas spending by those aged 18-29 doubling over the past five years.
“Their gambling activities bring almost no benefits to the New Zealand racing and sports industries, and these offshore operators are under no obligation to provide the same level of harm minimization support and account management tools that Betcha offers to New Zealanders.”
Mel Kenneday, Chief Marketing Officer of Entain, added: “This new brand will emphasize the social and competitive value of sports and racing, and introduce New Zealanders to the next generation of the betting industry.
“This means we will focus on some of the events and sports that the new generation is truly interested in, such as soccer, basketball, and UFC. Betcha has already been confirmed as the official betting partner for New Zealand UFC.”
Entain has just released its mid-term results for the first half of 2024, showing a 6% increase in net gambling revenue for the group.
