Entain has announced the launch of a new betting platform in New Zealand called Betcha. Aimed at younger demographics, Betcha is introduced as a strategic response to the growing competition from offshore betting operators.
Targeting Younger Demographics
Betcha is designed to attract bettors under 35 and will operate alongside TAB New Zealand, but with key differences. Unlike TAB, Betcha will not offer tote betting on racing, focusing solely on fixed odds. To use Betcha, existing TAB customers will need to register a new account, as the platforms will operate separately.
Partnership with TAB New Zealand
The launch of Betcha follows Entain’s 25-year partnership agreement with TAB New Zealand, approved by New Zealand’s Minister for Racing in May 2023. Under this deal, Entain took over most of TAB New Zealand’s day-to-day operations.
Cameron Rodger, Entain’s Managing Director for Australia and New Zealand, highlighted the platform’s importance in combating offshore betting. “In the three months to the end of June 2024, New Zealanders’ spending with offshore betting operators grew by 30%, continuing a trend over the last three or more years,” Rodger stated. “Offshore spending is now estimated to be over $180 million per annum, led by the growth in offshore spending doubling in the 18-29-year-old age band in the last five years.”
Addressing Offshore Betting Concerns
Rodger emphasized the negative impact of offshore betting on New Zealand’s racing and sports industries. “Their betting activity provides little to no benefit for 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 will make available for Kiwis,” he said.
Betcha’s Unique Offerings
Betcha will prioritize the social and competitive aspects of sports and racing. Mel Kenneday, Entain’s Chief Marketing Officer, explained the platform’s innovative approach, stating, “This new brand will emphasize the social and competitive value of sports and racing and introduce New Zealanders to the next generation of betting.”
Focusing on Popular Sports
Kenneday added, “This means we’ll be focusing on some of those events and sports that the newer generation have really shown interest in, like football, basketball, and UFC, with Betcha confirmed as New Zealand’s official wagering partner for UFC.”
Financial Context
This news comes as Entain released its interim results for the first half of 2024, showing a 6% increase in total group net gaming revenue. The growth underscores the company’s ongoing efforts to expand and innovate within regulated markets.
Entain’s launch of Betcha represents a significant step in capturing a younger audience and addressing the challenges posed by offshore betting operators. As the platform rolls out, it aims to provide a fresh and engaging betting experience tailored to the preferences of New Zealand’s modern bettors.
