Record turnover for New Zealand betting

According to the New Zealand Racing Board, bettors spent a record $2 billion on sports betting and the racing industry’s poker machines in the financial year ended July 31, resulting in a net profit of $144.1 million, up 13.2 percent from the previous year.  

This impressive result was despite the fact that the country did not have as busy a calendar of sports fixtures during 2012, compared with 2011 when the country hosted the Rugby World Cup.  From the profits, $142 million will be distributed back to the racing industry, and increase of $6.5 million from last year.