RITA: General Info and Features

RITA is an acronym that stands for the Racing Industry Transition Agency (RITA). The agency was formerly known as the New Zealand Racing Board (NZRB), as serves as a statutory monopoly for sports betting in New Zealand, including betting on greyhound racing and horse racing. 

It was established under the Racing Act 2003 to operate the totalizer agency board (TAB), to promote and also maximize the profits of the racing industry. RITA broadcasts hound and horse racing on two different television channels, known as TAB Trackside 1 and TAB Trackside 2, as well as TAB Trackside Radio.

Under the racing act, the board is obligated to regulate and also improve the racing industry in New Zealand. The board has a duty under the Racing Act to regulate and improve the New Zealand racing industry. The agency must promote wider ownership of greyhounds and racehorses, as well as best practices amongst racing events and racing clubs. Also, on the shoulders of RITA is the responsibility of improving the efficiency and technology of the racing industry, and also improving the facilities of racing events as they improve the atmosphere of racing events.

The management of the New Zealand Racing Industry Transition Agency business and affairs takes place under the supervision and direction of its governing body known as the board. The seven-member board is made up of a representative each from the three codes (thoroughbred, greyhound, and harness racing), together with the board chairman and three independent appointed Board members.

RITA in NZ Gambling Industry

The Racing Industry Transition Agency (RITA) was established to replace the New Zealand Racing Board (NZRB) in 2019 through the New Zealand Racing Reform Act. The agency has a legislative mandate to execute any urgent changes that may be required to revitalize the New Zealand racing industry, and also carry out any business-as-usual functions, like the totalizer agency board TAB.

When Kiwis gamble online with CasinoDeps sites or bet with the TAB on the trots, gallops, or greyhounds, decide to stake their money on the European or All Blacks football, every betting dollar contributes to grassroots sports and racing in New Zealand. The funds also contribute to the livelihoods of hundreds of thousands of Kiwis who are involved in these sectors.

RITA is a major entertainment business that has 180,000 TAB account holders and a retail network that is made up of around 550 outlets.

RITA is a direct employer of 690 personnel (casual, full-time, and part-time), with the majority of these workers involved in the different facets that make up the TAB operation. The facets include selling racing and sports bets through the different retail networks, scheduling daily racing for sports customers in New Zealand, telephony and online channels, or the broadcast of racing on the New Zealand national sporting television channels Trackside 1 and 2, and Trackside Radio.

RITA supports betting on moreover 78,000 imported and domestic thoroughbred, greyhound and harness races every season, as well as on a fast-growing number of international and domestic sporting events.

The members of the RITA board at present are Glenda Hughes (Independent Chair), Greg McCarthy (Thoroughbred Code nominee), Rod Croon (Harness Code nominee), Mauro Barsi (Greyhound Code nominee), Graham Cooney (Independent Member), Alistair Ryan (Independent Member), and Barry Brown (Independent Member).

Features

The features of RITA include the following:

• Tab wagering products: In 1951, The TAB is known to have initiated the first Government-run totalisator wagering service in the world. Today, there is a rapidly growing range of tote bet types available on offer.

• Fixed odd betting: In 1996, the TAB included fixed-odds betting to its stable when they started sports betting. Now, there are a total of 31 sporting codes covered, including fixtures and matches around the world, from soccer, cricket, rugby football to sheep shearing. Just like with race betting, a percentage of every betting dollar is remitted to the New Zealand sporting code in which the bet is placed. The sports betting product choice included head to head, winning team, half / full-time double and margin, lots more.

• Harm prevention and minimization: Under the 2003 Racing Act and associated Regulations, the New Zealand Racing Board, is required to report on the programs that relate to problem gambling, to offer advice and information on problem gambling, and also to offer problem gambling training. Since the establishment of the New Zealand Racing Board, the board has taken a proactive stance in fulfilling its duties for harm prevention and minimization. Below are some of its’ initiatives:

  • Problem gambling awareness workshops for drug addicts

  • Staff intervention policies

  • Self-exclusion programs

  • Tools like maximum bet and loss limits for account holders

Conclusion

Racing Industry Transition Agency (RITA) is a rebrand of the New Zealand Racing Board that was appointed by New Zealand Racing Minister Rt. Hon. Winston Peters on the 1st of July 2019. RITA has been on top of the business of bringing horse and hound racing in New Zealand to top efficiency.