Basketball in New Zealand receives seven-figure boost

MEDIA RELEASE
20 January 2015

Basketball in New Zealand receives seven-figure boost

Basketball in New Zealand has received an unprecedented financial boost with Basketball NZ banking over $1 million in commission payments from the TAB in 2014.

The TAB contributes a share of betting turnover and margin to National Sporting Organisations for sports on which it takes bets.

Executive General Manager – Strategy and Transformation Monique Cairns says basketball is the third ever New Zealand sport to get a seven-figure commission payment within a calendar year, and the first not to be buoyed by world cup betting.

“Basketball, particularly NBA basketball, has long been a favourite for Kiwi punters and is one of our most bet-on sports.

“Interestingly, we can also put some of basketball’s record commission payment down to bets on the Women’s NBA (WNBA). We made the WNBA available on our online TAB Watch&Bet service last year and it’s proved very popular,” says Cairns.

Basketball New Zealand Chief Executive Iain Potter says Kiwi interest in basketball has never been better.

“We know Kiwi punters love the NBA and that as a result, basketball in New Zealand is benefiting - which is great for the local game,” says Potter.

Potter says the commission payment from the TAB will contribute to community-focused activities such as Kiwi Hoops, tournaments and talent development as well as the national team.

In 2014 the TAB returned over $5 million in commission payments to National Sporting Organisations across New Zealand.

ENDS

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