Where New Zealanders can bet on the Melbourne Cup in 2026

Updated October 2026

Licensed

Available in US

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18+ Only

A handful of decisions sit between a New Zealand punter and a Melbourne Cup bet. The first is legal, the second is practical, and both shape the rest. New Zealand law, as amended in 2025, narrows the field to a single licensed provider; the racing itself is unchanged, run at Flemington on the first Tuesday in November. What follows is the working map: who can take your bet, how the odds are built, what each-way and exotic bets cost you, where the bonus money actually pays out, and what to do if the betting gets ahead of you.

The figures and licence claims below were checked as of October 30, 2026 against the Department of Internal Affairs’ public statements and TAB NZ’s own terms, and the race-specific facts against the Wikipedia entry for the Melbourne Cup and the 2026 running.

The Melbourne Cup at a glance: what you are betting on

The Melbourne Cup is a Group 1 thoroughbred handicap over 3,200 metres at Flemington Racecourse, open to three-year-olds and older. The race is run on the first Tuesday in November, and the field is capped at 24 starters for safety reasons. The handicap weights are set by the VRC Handicapper, with a minimum of 50 kg; the prize money was A$10 million in 2025, up from A$8.56 million the year before.

The 2026 race is scheduled for 3 November and will be the 166th running. The track record stands at 3:16.3, set by Kingston Rule in 1990. The race has been run since 1861 and was over two miles until 1972, when the distance was converted to metric.

None of that is a tip. Handicaps mean the field is meant to be closer than raw form suggests, and 24-runner fields produce chaotic finishes more often than short ones do. The Cup rewards patience on the place end and discipline on the win end, because the favourite wins about a third of the time and the longshot spoils about as often.

Where you can bet: the New Zealand legal frame

Since 28 June 2025, section 74AAA of the Racing Industry Act 2020 has been in force: no person other than TAB NZ may offer racing betting, sports betting or other racing or sports betting to a person in New Zealand, regardless of where the operator is based. The Department of Internal Affairs told unlicensed providers to withdraw with immediate effect.

TAB NZ runs two online brands: TAB and Betcha. They are the same operator, on the same account backbone, with the same New Zealand harm-minimisation tools. They are not rivals. There is no licence register for bookmakers because there is only one lawful provider, and there is no application route for a second. The two brands differ on interface and promotions; the betting rules, the safer-gambling settings and the payout rules are shared.

The law targets the operator, not the player. Section 19(4) of the Gambling Act 2003 (inserted in 2025) says an individual may not be convicted for placing a bet with an offshore betting operator in breach of section 74AAA. No published penalty for a player was found. New Zealand does not geo-block bookmaker sites, so offshore brands do reach New Zealand addresses; the Department of Internal Affairs warns that they may sit in jurisdictions with minimal consumer safeguards, may not return unspent credits and may not pay out large wins. None of that is a “safe choice” claim in either direction; it is the risk the monopoly does not cover.

TAB NZ’s online operation is run under a 25-year partnership signed in 2023 with Entain, who takes a 50/50 share of gross profits, with at least $150m a year going to TAB NZ for the first five years and a one-off $100m payment to the racing sector. That arrangement sits behind the brand rather than on the betting slip, and it does not change how odds are set or how a bet settles.

Why there is no second-licensed bookmaker

The 2025 amendment closed a long-running grey zone in which offshore brands reached New Zealand customers without a domestic licence. From 28 June 2025 the position is binary: TAB NZ, or an operator breaking New Zealand law. The Department of Internal Affairs’ statement to that effect is the regulator’s own confirmation of the rule.

What is licensed in New Zealand, and what is not, forms a short list:

• TAB and Betcha: both are online brands of TAB NZ, licensed through the Racing Industry Act 2020 regime; betting age 18; New Zealand address and ID required at sign-up.
• The Online Casino Gambling Act 2026 licenses online casino gambling only. It does not license sports betting. TAB New Zealand’s right to apply for a casino licence under that Act is a separate permission; it does not extend the betting monopoly and it does not open the door to a second sports bookmaker.
• Greyhound racing closes in stages from 1 August 2026. From that date, offshore operators may not take bets on greyhound races in New Zealand either.

A bookmaker licensed somewhere else — Anjouan, Curaçao, the Union of the Comoros, Tobique Gaming Commission — has no right to take bets from people in New Zealand. The licence number on the footer of a foreign site does not change that. New Zealand’s harm-minimisation framework, complaints route and exclusions register do not reach it.

The bookmakers a New Zealand punter actually meets

What follows are the brands a New Zealand punter is most likely to see advertised, ranked by the question that matters here: are they lawful to bet with from New Zealand, and what is the offer underneath the marketing.

TAB

TAB is the original New Zealand tote and bookmaker, now run online as one of two TAB NZ brands. The TAB NZ app is published under the seller name New Zealand Racing Board, first released on 8 September 2014, and carries racing and sports on one wallet. It lists horse and harness racing, rugby union, rugby league and other sports, pre-match and live, and ships with Trackside live race streaming, racing form, Blackbook and Jockey Challenge tools, a 17+ App Store age rating and an 18-or-over-only betting rule.

The lawful frame is the point. TAB is the only provider that takes racing and sports bets from a New Zealand address within New Zealand law. The safer-gambling tools — deposit limits, time-outs and self-exclusion — are built in, and an exclusion applies across TAB and Betcha together. The Problem Gambling Levy of 0.74% (in force from 1 July 2025 to 30 June 2028) is paid by TAB NZ and funds the Gambling Helpline and Safer Gambling Aotearoa.

For the Melbourne Cup specifically, TAB runs fixed-odds and tote (pool) markets, with the standard racing bet types: Win, Place, Each Way, Quinella, Exacta, Trifecta, First Four, Double, Treble, Daily Double, Running Double, Quaddie and Big6, plus Multis and Same Game Multis. Live betting is listed in the app.

The verdict: TAB is the only lawful option in New Zealand, and the safer-gambling and complaints framework sits behind it. The product is wide enough to cover the Cup and most of the day’s racing; the constraints are the ones the regulator puts there, not the ones the operator adds.

Betcha

Betcha is TAB NZ’s second online brand, published on the New Zealand App Store by Entain New Zealand Limited and first released on 6 August 2024. It sits on the same TAB NZ licence, the same wallet, the same exclusions and the same safer-gambling tools as TAB. Where it differs is in interface and promotions, with a newer look aimed at a younger racing and sports audience.

For the Cup, the betting rules, the market depth and the payout rules are the ones TAB NZ publishes. A self-exclusion set on TAB applies to Betcha, and vice versa. Promotions are operator terms and may carry turnover conditions, minimum odds and expiry windows — read the terms before claiming.

The verdict: Betcha is the same legal offer as TAB with a different skin, and a punter who likes the TAB product but wants a fresher interface can move between the two without losing safer-gambling settings. The two are not rivals; they are one operator with two front doors.

Rooster.bet — not licensed in New Zealand

Rooster.bet’s sportsbook carries Live, Sports Promotions, Results, Schedule, E-sports and Predictions sections and shows odds in six formats. The brand names a Tobique Gaming Commission e-gaming licence (No. 0000002), held by Novatrix SRL, which is not a licensed option in New Zealand. The terms are in English, the cashier supports crypto, and the bonus structure is geared to that.

For a New Zealand punter the licence is the whole story. The Department of Internal Affairs’ position is that Rooster.bet is breaking New Zealand law by serving New Zealand customers at all. The complaints route, the exclusions register and the harm-minimisation framework that back TAB do not reach Rooster.bet. If a withdrawal stalls or a bonus is clawed back, the remedy sits outside New Zealand.

The verdict: do not bet on the Melbourne Cup with Rooster.bet from a New Zealand address. The product is broader than TAB on some counts (six odds formats, an e-sports block) and the licence language is firmer than some offshore brands, but the legal frame is the same: an operator that the regulator has told to withdraw.

Winz.io — not licensed in New Zealand

Winz.io runs a sports betting bonus promotion with a separate Sportsbook T&C, Sports Rules and Bonus Terms and Conditions pages, on top of its casino. The brand names Anjouan and Tobique licences, both held by Novatrix SRL, neither of which is permitted to serve New Zealand customers.

The Cup appears in the sportsbook if the brand has a market on Australian racing, which is the only point that matters for this page. The wider concern is the same as for Rooster.bet: no New Zealand complaints route, no New Zealand exclusions, no Department of Internal Affairs oversight. The Department of Internal Affairs’ warning about unspent credits and unpaid large wins applies.

The verdict: an offshore bookmaker with a strong crypto cashier and a separate sportsbook T&C, on a licence that gives no right to take bets from a New Zealand address. The promotion is the marketing; the regulator’s position is the substance.

Sportaza — not licensed in New Zealand

Sportaza offers cash out before an event or market is finalised, a Bet Builder (where one voided selection voids the whole betslip), multiples, Asian lines and interval markets in 1, 5, 10 or 15 minute ranges. The brand names an Anjouan licence (ALSI-202606064-FI2), which is not an authorised offer in New Zealand.

For racing specifically the question is whether Sportaza carries Australian racing markets, and the answer changes by week and by jurisdiction. The risk frame is the same: an operator the Department of Internal Affairs has told to withdraw, with no New Zealand complaint route if a payout stalls.

The verdict: a feature-rich bookmaker on a licence that does not cover New Zealand, and one whose cash-out and Bet Builder mechanics are designed for short-cycle markets rather than a 24-runner handicap. Read the terms for voiding rules and the cashier for currency; the bigger question is whether the bet is one you can defend in a complaint.

BillyBets — not licensed in New Zealand

BillyBets runs a casino and a sportsbook under one account, and the sportsbook covers football, tennis, table tennis, basketball, ice hockey, American football, baseball, combat sports, esports, virtual sports and live betting. The brand names no licence that applies in New Zealand.

The Cup is a small piece of a wider sportsbook whose centre of gravity is football and combat sports. A New Zealand punter’s exposure is the same as for any other brand the regulator has told to withdraw.

The verdict: a sportsbook built for a different betting mix than the Melbourne Cup, on an offshore licence that does not permit betting from New Zealand addresses. The terms for withdrawals, voiding and bonus wagering apply as written, with no New Zealand backstop.

Spinbara — not licensed in New Zealand

Spinbara advertises a first deposit bonus of 100% up to EUR 100, a sport crypto welcome bonus of 100% up to 200 USDT, and a separate casino welcome bonus of 100% up to EUR 500 plus 200 free spins. The brand names no licence that applies in New Zealand.

The headline number is the marketing. The licensed frame is not. New Zealand law treats Spinbara as an offshore operator that the Department of Internal Affairs has told to withdraw, and the bonus terms — including which markets count toward wagering, what the minimum odds are, and how long the bonus is live — apply as Spinbara writes them, with no New Zealand complaints route.

The verdict: a casino-led brand with a sportsbook bolted on, on an offshore licence that does not permit betting from New Zealand addresses. The bonus is generous on the page and subject to terms in the small print; the legal frame does not change with the bonus size.

Roobet — not licensed in New Zealand

Roobet’s sportsbook covers soccer, basketball, tennis, Counter-Strike, FIFA, baseball, ice hockey, MMA and table tennis, and its terms require players to be 18 or older. The brand names a Curaçao licence (OGL/2024/687/0427), held by Raw Entertainment B.V., which gives no right to take bets from people in New Zealand.

Roobet is well known in the crypto casino market and uses that profile in its sportsbook. The Cup is a peripheral market for a brand whose centre of gravity is e-sports and crypto slots, and the licence language is the same as every other brand the regulator has told to withdraw from New Zealand.

The verdict: a sportsbook built for a different audience than the Melbourne Cup, on a Curaçao licence that does not cover New Zealand. The 18-or-over rule and the cashier are operator-side; the legal frame is the regulator’s.

BetNinja — not licensed in New Zealand

BetNinja advertises a casino welcome of EUR 1,000 bonus and 100 free spins, alongside a sports offer of a 100% match up to EUR 100 on the first deposit. The brand names a licence from the Union of the Comoros, which gives no right to take bets from people in New Zealand.

The two welcome offers are presented side by side, and a New Zealand punter who opens an account accepts both on the same terms. The legal frame is the same as the rest of this list.

The verdict: a casino-led brand with a sportsbook bolt-on and a Comoros licence that does not cover New Zealand. The bonus is real in the marketing and constrained in the small print; the regulator’s position is the substance.

Glorion — not licensed in New Zealand

Glorion offers pre-match and live betting, virtual sports, horse racing and esports, with markets grouped into popular, niche, indoor and outdoor sports, plus entertainment events such as award shows and elections. The brand names no licence that applies in New Zealand.

Horse racing is one of the listed verticals, which is why the brand appears in this ranking. The wider market mix is the marketing; the legal frame is the same as the rest of the offshore list.

The verdict: a sportsbook with a wider vertical mix than most, on a licence that gives no right to take bets from people in New Zealand. The novelty markets (award shows, elections) are the part that matters for risk; the Cup is the part that matters for this page.

How the odds are built: the margin inside every price

Every bookmaker price carries a margin — the share of every dollar bet that the bookmaker keeps, on average, over the long run. The arithmetic is short. For a market with N outcomes, the payout share is 1 divided by the sum of the reciprocals of the odds:

payout share = 1 ÷ (1/odds₁ + 1/odds₂ + … + 1/odds_N)

and the margin is 1 minus that share.

A worked example makes the mechanism visible. Take an even two-way market priced at 1.90 / 1.90. The reciprocal sum is 1/1.90 + 1/1.90, which is 0.5263 + 0.5263 = 1.0526. The payout share is 1 / 1.0526, which is 0.95. The margin is 1 − 0.95 = 0.05, or 5%. Out of every NZ$100 bet on that market across both outcomes, the bookmaker keeps NZ$5 on average and pays back NZ$95.

That 5% is a working number, not a quoted one. Real bookmaker margins on Melbourne Cup Win markets sit somewhere between roughly 8% and 15% for the major operators; exotic markets, place markets and Same Game Multis carry higher margins because the bookmaker faces more risk on the leg structure. A short-priced favourite inflates the margin because the reciprocal is large; a long-shot field can deflate it for the same reason.

The move for the punter is to compare payout shares across the same market, not across the day. A bookmaker offering 6% on the Win is cheaper than one offering 12% on the same race; a bookmaker offering 9% on a Same Game Multi is cheaper than one offering 18% on the same combo. The Cup is wide enough that the difference between a 10% market and a 14% market, compounded over a day, is a real number in a punter’s bankroll.

Bet types on Cup Day

TAB NZ’s published rules define a wide menu. The ones that matter for a first-time Cup punter are the win-and-place family, the each-way wrapper, and the exotics.

Win is the simplest: pick the runner that finishes first. The bet pays the dividend printed on the betting slip at the jump.

Place is a bet that the runner finishes in the place positions, which for a 24-runner Melbourne Cup field means first, second or third. The place dividend is lower than the win dividend because the bet wins more often. Some bookmakers offer place terms of a quarter or a fifth of the win odds; the rule is operator-side and printed in the betting rules.

Each Way is two bets stitched together: a Win bet and a Place bet, on the same runner, for the same stake. A NZ$10 each-way at $11 costs NZ$20 in total: NZ$10 on the Win and NZ$10 on the Place. If the runner wins, both legs pay; if the runner places, the Place leg pays and the Win leg is lost. Each-way is the standard way to back a roughie in a big-field handicap, because a place finish is a real outcome even when a win is not.

Quinella is a bet on the first two finishers in any order. Exacta is the same bet in the right order. Trifecta is the first three in the right order, and First Four is the first four. The odds of the legs do not multiply into one price in the tote pool; the dividend is declared after the race and depends on the pool. For fixed-odds exotics, the odds are set by the bookmaker and the margin is wider than on a Win market.

Quaddie is a bet on the winners of four nominated races, usually the last four on the card. The pool is shared among the winning tickets; the dividend can be very large on a wet day. Big6 is the same idea, extended to six races. Both are pool bets, not fixed-odds, and the dividend is declared after the last leg.

Multis and Same Game Multis are fixed-odds combination bets. The odds of each leg multiply into one price; the margin is the product of the per-leg margins, which is why multi bets are more expensive than singles even when the legs look obvious.

Bonuses and free bets: what the offer actually costs

A bonus bet is the most common promotion on Cup Day. The marketing reads “free” or “matched”; the substance is turnover, minimum odds and an expiry window. The pattern is consistent across the market.

A typical bonus bet, on the way operators write them, is a fixed amount credited to a winning account, with a wagering requirement of one to five times the bonus amount, a minimum odds rule that excludes short-priced favourites, a time limit of seven to thirty days, and a cap on winnings paid out of the bonus. The free-bet stake is usually not paid back with a win: a NZ$10 bonus bet at $11 returns NZ$110, not NZ$121. Some operators return the stake; the rule is operator-side and printed in the bonus T&Cs.

The arithmetic, for a free bet whose stake is not paid back, is the same as the margin calculation above. The value of the free bet, on average, is:

free-bet value = free-bet amount × (odds − 1) ÷ odds × payout share of the market

For a NZ$10 free bet at $11 on a 95% payout share market, that is 10 × (11 − 1) ÷ 11 × 0.95 = 10 × 0.9091 × 0.95 ≈ NZ$8.64. The free bet is worth about NZ$8.64 in expected value, not NZ$10. The gap is the cost of the marketing label.

For a turnover-gated bonus, the calculation is sharper. Take a 100% deposit match up to NZ$100 with a 5x wagering requirement on the bonus amount. The required turnover is 100 × 5 = NZ$500. At a stake of NZ$10 per bet, that is 50 bets. If the market margin is 8%, the expected cost of clearing is 500 × 0.08 = NZ$40. The bonus is worth up to NZ$100 on paper; the expected cost of clearing it is NZ$40. The net expected value depends on whether the deposit itself can be withdrawn, which is operator-side.

The move for a punter reading the small print is the same every time. Check the wagering multiple, the minimum odds, the expiry, the cap on winnings, and which markets count toward the wagering requirement. The headline number is the marketing; the small print is the offer.

Strategy and bankroll: what the form actually says

The Cup is a handicap, which means the VRC Handicapper has set weights to bring the field together. The favourite wins about a third of the time, the place share for the top of the market is wider, and the longshots run hot on a wet day. None of that is a tip; it is the structure of the race.

A bankroll approach starts with the stake. A common rule of thumb is to stake no more than 2% of the bank on a single Win bet, 1% on an exotic, and to size the place bet as a fixed share of the win stake rather than a separate decision. The each-way wrapper doubles the stake, which doubles the exposure, which is why each-way is suited to runners with a real place chance rather than the field as a whole.

Form reading is its own discipline. The relevant inputs are recent runs, the weight set by the handicapper, the barrier draw (which matters more in a 24-runner field than in a 14-runner one), the jockey booking, the trainer’s record in the race, and the going on the day. None of that tells the punter who wins. It tells the punter which runners have a real chance and which are running for the place.

What does not work: backing every runner in a book, doubling the stake after a loss, betting on the favourite because the favourite is short. The Cup has paid longshots often enough that no favourite has ever been “the sure thing”, and the bookmaker’s margin is wider on short-priced favourites than on mid-market runners. The arithmetic of the bookmaker’s edge does not care who the favourite is.

What does work, for most punters, is a small number of well-reasoned bets at stakes set in advance. Three or four bets at 2% of the bank is a Cup; a dozen bets at 5% each is a different kind of day, and the second kind tends to end the first kind.

Responsible gambling: the tools on TAB NZ

TAB NZ’s app lists deposit limits, time-outs and self-exclusion as built-in tools, and a self-exclusion set on TAB applies across both TAB and Betcha. The age for betting with TAB NZ is 18; betting under 18 is an offence under section 89 of the Racing Industry Act 2020. Land-based casinos in New Zealand are 20 — the two are not the same.

The free New Zealand Gambling Helpline is 0800 654 655, with a text line at 8006. Safer Gambling Aotearoa is the public-facing name of the harm-minimisation programme funded by the Problem Gambling Levy. The levy is 0.74% of TAB NZ’s gross profits, in force from 1 July 2025 to 30 June 2028.

The Department of Internal Affairs’ warning about offshore brands is part of the safer-gambling frame. An offshore operator may not return unspent credits, may not pay out a large win, and may not extend a New Zealand exclusion. The exclusion set on TAB NZ does not bind an offshore brand.

A punter who has set a deposit limit and hit it has done the right thing. A punter who has raised a deposit limit three times in a week has not. The tools are operator-side; the discipline is the punter’s.

Tax: what a winning Cup bet means for the punter

Inland Revenue’s guidance is that recreational gambling winnings are generally not taxable, and prize money from TAB horse, dog and trotting races is not taxable. A person who bets as a business — a professional punter whose livelihood is the betting bank — is a different case and is advised to consult Inland Revenue or an accountant.

For a one-off Cup bet by a recreational punter, the bet is settled, the dividend is paid, and Inland Revenue is not involved. GST does not apply to gambling winnings. The numbers on the betting slip are the numbers in the bank.

For the operator side, TAB NZ pays the Problem Gambling Levy (0.74%). Overseas operators supplying New Zealand residents pay online gambling duty (12% of profits since 1 July 2024, rising to 16% from 1 January 2027). A duty being payable does not make the offer lawful. The 2025 amendment to the Racing Industry Act treats the duty and the prohibition as separate questions.

Advertising and the code that governs it

The Advertising Standards Authority’s Gambling Advertising Code applies to betting advertisements in New Zealand. The Code says ads must not target children (under 14) or young people (14 to under 18), judged by context, appeal and expected audience. Where accurate audience data exists, an audience of 25% or more young people counts as significant. Ads must not encourage harm and must be truthful, with terms available.

The Code does not include a “whistle-to-whistle” ban on betting advertising around sports broadcasts — that is a UK measure with no New Zealand equivalent. TAB NZ’s own advertising is governed by the Code; affiliate marketing of offshore brands is the regulator’s open question, and the Department of Internal Affairs has not published a position that resolves it.

For a punter, the practical reading is: ads that promise “guaranteed” returns, “risk-free” bets, or “matched” bonuses are marketing, not contracts. The Code requires truthfulness; the small print is where the truth lives.

Payments, limits and the cashier

No statutory rule on payment methods for betting accounts was found. TAB NZ’s deposit methods and limits are operator-side and printed in its terms. The Department of Internal Affairs’ warning about unspent credits applies to offshore brands; TAB NZ is a New Zealand-regulated entity and the credits live in New Zealand.

Nothing in the public record states a rule on crypto use, VPN use or bank-blocking. What the public record does state is that TAB NZ account opening requires a verified New Zealand address and ID, and the safer-gambling tools are tied to that account. An offshore brand that accepts a New Zealand address is in breach of section 74AAA; an offshore brand that requires no address verification is in breach of every anti-money-laundering rule the brand’s own licence claims to follow.

The bettor’s question is whether the deposit can be withdrawn if the bet is never placed. TAB NZ’s terms are clear on that. The terms of an offshore brand are operator-side, and the Department of Internal Affairs’ warning is the regulator’s own summary of the risk.

The Cup in numbers: a working set for 2026

• Race date: 3 November 2026, first Tuesday in November.
• Running: 166th.
• Distance: 3,200 metres (two miles until 1972).
• Course: Flemington Racecourse, Melbourne.
• Field size: up to 24 starters; the largest field was 39 in 1890.
• Minimum weight: 50 kg, set by the VRC Handicapper.
• Prize money: A$10 million in 2025 (up from A$8.56 million in 2024); the 2026 figure is set by the Victoria Racing Club and published closer to the race.
• Track record: 3:16.3, set by Kingston Rule in 1990.
• First run: 1861.

The favourite’s win rate sits around a third; the place share is wider. A wet Flemington tightens the field and lifts the longshot share. None of that is a tip, and the form guide on the day is the input the punter brings to the betting slip.

What to do on the day

The day-of-Cup routine, in the order it actually happens, looks like this for a New Zealand punter.

Open the TAB NZ app or Betcha and check the account is verified, the deposit is in and the safer-gambling settings are still where they were set. The settings are sticky, but the deposit is not; if the day has been a long one, the deposit may need topping up. The safer-gambling question is whether the top-up is the right call, and the answer is whatever the punter’s own rule says, not whatever the marketing says.

Set the stake rule before the first race. Two percent of the bank on a Win, one percent on an exotic, fixed place shares on Each Way, no doubling after a loss. The rule is the only edge a recreational punter has against the bookmaker’s margin.

Read the form. Recent runs, weight, barrier, jockey, trainer, going. The form is not a tip, but it is the input that decides which runners are in the bet and which are not. The Cup’s field is wide enough that a reasoned shortlist of three or four runners is a better bet than a dozen runners on instinct.

Place the bet before the jump. Late bets on TAB NZ’s tote pay less, because the pool is shrinking. Fixed-odds bets on the same runner pay the price at the time of placement; the price moves with the market until the jump.

Settle. The dividend is declared after the race, the betting slip updates, and the bankroll either grows or does not. The next race is the next bet, on the next stake rule, with the same discipline.

Frequently asked questions

Can I bet on the Melbourne Cup online from New Zealand?

Yes. TAB NZ’s two online brands, TAB and Betcha, are the only providers lawfully offering racing and sports betting to people in New Zealand since 28 June 2025. The Racing Industry Act 2020, as amended by the Racing Industry Amendment Act 2025, made that position explicit in section 74AAA.

Which bookmaker may lawfully take sports and racing bets in New Zealand?

TAB NZ, through its two online brands, TAB and Betcha. There is no application route for a second licence and no register of licensed bookmakers because there is only one lawful provider. Any other brand offering racing or sports bets to a New Zealand address is breaking New Zealand law.

How is the return on a Melbourne Cup bet worked out from the stake and the odds?

For a fixed-odds bet, the return is the stake multiplied by the decimal odds. A NZ$10 bet at $11 returns NZ$110 if the bet wins. For a tote bet, the dividend is declared after the race and depends on the pool, not on a fixed price. For an each-way bet, two bets are placed — a Win and a Place — for the same stake on the same runner.

What is the bookmaker’s margin and how can it be seen in the odds?

The margin is the share of every dollar bet that the bookmaker keeps on average. It is calculated as 1 minus the payout share, where the payout share is 1 divided by the sum of the reciprocals of the odds across all outcomes of a market. A market priced at 1.90 / 1.90 has a 5% margin; a market priced at 1.80 / 2.00 has a payout share of 0.526 and a margin of 0.474, or 47.4%. The wider the margin, the more the bookmaker keeps.

How does the TAB NZ monopoly on betting work, and what does it mean for the Melbourne Cup?

Section 74AAA of the Racing Industry Act 2020, in force since 28 June 2025, says no person other than TAB NZ may offer racing betting, sports betting or other racing or sports betting to a person in New Zealand, regardless of where the operator is based. The Department of Internal Affairs told unlicensed providers to withdraw. For the Cup, that means a New Zealand punter bets with TAB NZ (or Betcha, the same operator under a different brand) or with an operator breaking the law.

Are bonuses and free bets on Melbourne Cup Day worth claiming?

The headline number is the marketing; the small print is the offer. A bonus bet whose stake is not paid back is worth the bonus amount times the odds minus 1, divided by the odds, times the market’s payout share. A turnover-gated bonus costs the punter the wagering multiple times the market margin in expected value. Read the wagering multiple, the minimum odds, the expiry, the cap on winnings, and which markets count before claiming.

What to do if my gambling gets ahead of me?

TAB NZ’s app lists deposit limits, time-outs and self-exclusion, and the exclusion applies across TAB and Betcha together. The free Gambling Helpline is 0800 654 655, with a text line at 8006. Safer Gambling Aotearoa is the public-facing programme funded by the Problem Gambling Levy. The tools are operator-side; the discipline to use them is the punter’s.

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