sail-world.com
 
 
News Home Video Gallery Photo Gallery

 

Sail-World.com : America's Cup: Yachting NZ signs up for betting on yacht racing

America's Cup: Yachting NZ signs up for betting on yacht racing

'The odds of Team New Zealand reaching the America’s Cup Match after their performance in 2003 would have been an interesting bet.'    MCC McCamp    Click Here to view large photo

It is now possible to bet on yacht racing through a deal signed between Yachting NZ and the NZ Racing Board.

The move is expected to allow New Zealanders and international punters the opportunity to bet on the outcomes of yacht races. The move has been announced by Yachting New Zealand, however no comment has yet been made by the Racing Board, which is known to have been pursuing the agreement for some time.

The statement issued by Yachting New Zealand reads:

Yachting New Zealand has reached an agreement with the New Zealand Racing Board which allows the Board (TAB) to conduct betting on yachting.

Many major New Zealand sports have allowed betting for some time, and this is sanctioned under section 5 of the Racing Act 2003.

Yachting New Zealand's Chief Executive Des Brennan says, 'Most sports funding is sourced from gaming activity, and when Yachting New Zealand sought the views of members last year, we found that there was little strong opinion against the move.'

While it is not foreseen that funding from betting will be a major source of income, it is hoped that it will be a useful one. It is also hoped that any promotion of events carried out by the TAB will increase the visibility of yachting and increase interest in its principal regattas.


Gambling on high profile sporting events allows a percentage of the revenue to be returned to the national body for development of the sport. -  © Max Ranchi Photography?nid=52132  


Under NZ Law it is required that the national body of the sport is required to give permission before the Racing Board is able to operate a book on that sport.

Several sports make very good returns from the bookmaking activities off public interest in major overseas sports events such as basketball and football leagues.

Many international betting organisations were able to offer odds on the last America’s Cup, but none in New Zealand - meaning the money invested went out of the country and only the winnings came back. -  Valenciasailing.com?nid=52132   Click Here to view large photo

Others do not do quite so well, but pick up useful revenue anyway. By NZ Law a percentage of the revenue has to be returned to the sport.


Unexpected dramas such the three kite set by Emirates Team New Zealand can add real interest to punters, and unlike other sprts events the yacht race is never really over until it is finished. -  http://www.ingridabery.com!©_Ingrid_Abery  
Yachting has a speckled past with the activities of bookmakers.

They were a traditional part of 18ft skiff racing, offing odds to punters on the Sydney ferries following the racing, and this extended across the Tasman.

During the 2000 Louis Vuitton Cup the waterfront scuttlebutt alleged that the wives of several crew members aboard one of the challengers had made a fortune off international bookmakers, after their team was alleged to have known that one of the competitors was going to throw a race, to achieve a certain, and more favourable draw in the next stage of the regatta.

During the 2007 America's Cup several international organisations offered odds on the outcome of racing, however New Zealanders were not able to participate locally, and today's announcement means that this situation has now changed.

Currently there are over 300,000 competitors in the virtual Volvo Ocean Race, a significant increase on previous years, and with the multiplicity of leg and gates in the event, plus the opportunity to bet on leg times, speed records and the like, there would seem to be a good opportunity for the more able virtual punters to be able to put their money where their mouse is.

Certainly with the extended duration of many high profile international sailing competitions - ranging from just a few days like the Rolex Sydney to Hobart Race, to three months for the America's Cup regatta and onto about nine months for the Volvo Ocean Race, there is plenty of opportunity to build a strong following amongst punters on an event - unlike many other sports, save for maybe the football and basketball leagues.

Yachting is a high profile and successful sport in New Zealand, and the small nation of just over 4 million population competes with distinction at Olympic level, Match Racing, Round the World races and America's Cup, offering no shortage of events for local punters and sailing fans.

It is not known if odds will be offered on the upcoming Louis Vuitton Pacific Series.

However it is expected that odds will be offered on the next America's Cup, with possibly the first bet being on the actual start date of the regatta!

Bookmaking is not restricted to the America’s Cup, but can be extended to a range of yachting events from round the world racing to inshore multihull racing between professional teams. -  BMW Oracle Racing © Photo Gilles?nid=52132 Martin-Raget   Click Here to view large photo




by Zoe Hawkins and Sail-World

  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=52132

7:59 AM Tue 23 Dec 2008 GMT






Click here for printer friendly version
Click here to send us feedback or comments about this story.


Related News Stories:

25 Apr 2014  ISAF World Cup: NZL Sailing Team's World Champions lead fleets
24 Apr 2014  ISAF World Cup: NZL Sailing team leads in two classes at midpoint
23 Apr 2014  2014 Stoke Beer 18ft Skiff National Championships – This ANZAC weekend
23 Apr 2014  ISAF World Cup: Solid results from NZL Sailing Team on Day 2, Hyeres
23 Apr 2014  Toyota Optimist Nationals: Thriller on Final Day in fresh breeze
23 Apr 2014  Toyota NZ Optimist Nationals: Images from Day 5
23 Apr 2014  Toyota Optimist Nationals: McKenzie fends off competition on Final Day
22 Apr 2014  CRC NZ Masters title the Summer Series decider in Finns
22 Apr 2014  World Cup Hyeres: NZL Sailing Team early leaders in the 49er and RS:X
21 Apr 2014  Toyota Optimist Nationals: Late charge puts pressure on leaders
MORE STORIES ...

News - USA and the World





























Team GBR’s Sparky on the Road to Rio (Part Two) *Feature by Rob Kothe and the Sail-World Team,


















Team GBR on the Road to Rio (Part One) by Rob Kothe and the Sail-World team,




















Sailing World Cup Hyeres- Top sailors to face off as Gold Fleet Racing
Anti-boating legislation debated in Florida House
ISAF Sailing World Cup Hyeres - Day 2 Laser images by Franck Socha
ISAF Sailing World Cup Hyeres - Day 2 Nacra 17 images by Franck Socha
ISAF Sailing World Cup Hyeres - Mitakis lead reduced on day 2
Will late spring thaw spell trouble for boaters?
Byte CII Worlds and YOG Continental Qualifier at Riva del Garda
ISAF Sailing World Cup Hyères - Battle continues for U.S. sailors
ISAF Sailing World Cup Hyeres - Qualification stage comes to a close
ISAF Sailing World Cup Hyeres - Day 2 images by Franck Socha
ISAF SWC Hyeres - Nacra Silver medal debutantes continue to improve
Antigua Classic Yacht Regatta - Cheers on the dock
Spindrift 2 criss-crosses the Bay of Biscay
45th anniversary of Sir Robin Knox-Johnston's record circumnavigation
ISAF Sailing World Cup Hyeres - Sailors tweet about opening day
49er Blog: Glorious racing to kick start Hyeres World Cup
Clipper Round the World Yacht Race - Continuous close racing
ISAF Sailing World Cup Hyères - Fluttering flags whet sailors appetite
Antigua Classic Yacht Regatta - Race 4 images by Jude Robertson
ISAF Sailing World Cup Hyeres - US Sailing Team Sperry Top-Sider Day 1
ISAF Sailing World Cup Hyeres - Day 1 Nacra 17 images by Thom Touw   
ISAF Sailing World Cup Hyeres - Day 1 Laser images by Thom Touw   
ISAF Sailing World Cup Hyeres: Ioannis Mitakis leads Finns after day 1   
RC44 Cascais Cup - Fresh faces join the line-up   
ISAF Sailing World Cup Hyeres - Excellent racing on opening day   
ISAF Sailing World Cup Hyeres - Images by Yvan Zedda and Franck Socha   
ISAF Sailing World Cup Hyeres - Day 1 images by Franck Socha   
Hyeres World Cup: Kiwis lead but Outteridge Jensen back in 49er fray   
Belcher and Ryan lead from the start in Hyeres   
ISAF Sailing World Cup Hyères - Race day 1 ready for lift off   
Clipper Round the World Race 11 - Tense match downwind racing on Day 2   
Antigua Classic Yacht Regatta - Day 3 an absolute gem   
Quantum Key West 2015 dates confirmed   
Flying Tigers 'Psych' - on Lake Lanier they pronounce it Zhik   
ISAF Sailing World Cup Hyeres: Anticipation intensifies as start nears   
Clipper Round the World Race - Race 11 start images by Chuck Lantz   
27th Antigua Classic Yacht Regatta 2014 - Big breeze on the butterfly   
Rolex China Sea Race 2014 - Pryde and Joy for Hi Fi   
Clipper Round The World Race - A flying start on Day 1 of Race 11   
Cammas on Caudrelier – different styles, same objective   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News







Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
X6XL NEW US