In this Part of this Act, ‘sport’ means any lawful organised game, competition, or event involving human competitors conducted pursuant to rules which are under the control of a national or international sports organisation; and ‘sporting’ has a corresponding meaning.

The Board may from time to time make, alter, and rescind rules providing for the establishment of a system or systems of sports betting, and providing for any matter relating to the conduct and operation of sports betting by the Board.

The rules may provide for a product range, and games and other matters, to enable persons to bet on any sporting event or events or on any contingency arising from a sequence of such sporting events in respect of sports other than racing.

No rule made under subsection (1) of this section, or alteration to, or rescission of, such a rule, shall come into force until it is approved by the Industry Board, and has been published by the Board in the Gazette.

Without limiting the generality of subsection (1) of this section, rules made by the Board under this section may specify the circumstances in which—

Subject to this Act and to any rules for the time being in force under section 99J of this Act, the Board may establish and operate totalisator betting or fixed-odds betting, or both, on any sporting event or events, whether held in New Zealand or outside New Zealand, or on any contingency arising from a sequence of sporting events, whether held in New Zealand or outside New Zealand or both, if—

and the New Zealand national sporting organisation meets the criteria laid down by the Hillary Commission for Recreation and Sport for receiving financial support from that Commission, whether or not it is actually receiving such support.

Any system of fixed-odds sports betting established under this section—

The Board shall have such powers and may perform such functions as are reasonably necessary for establishing such sports betting systems.

The Board shall not conduct sports betting, pursuant to section 99k of this Act, on any sporting event or events without the written agreement of the appropriate New Zealand national sporting organisation.

Every agreement entered into pursuant to subsection (1) of this section shall be on such terms and conditions as may be agreed between the Board and the New Zealand national sporting organisation concerned, including payment to the sporting organisation, pursuant to section 99o(1)(c) of this Act, of revenue derived from sports betting on the event or events to which the agreement relates.

For the purposes of operating a sports betting system under section 99k of this Act, the Board may use any offices or agencies established, or equipment used, for the operation of on-course betting under Part III of this Act or off-course betting under Part IV of this Act.

For the purposes of operating a sports betting system under section 99k of this Act, the Board may establish such new offices or agencies or outlets as it thinks fit.

The provisions of sections 84, 85, 89, and 100 of this Act, with all necessary modifications, shall apply in respect of sports betting conducted by the Board.

For the purposes of the Gaming Duties Act 1971, the gross amount of all bets accepted by the Board under this Part of this Act on any sporting event shall be deemed to be special investments within the meaning of that Act.

Notwithstanding sections 42 and 97 of this Act but subject to section 99n of this Act, the Board shall apply the total amount of sports betting registered under this Part of this Act, including the net return from bets laid off pursuant to section 99k(2)(a) of this Act, as follows:

The balance, if any, of the amount remaining at the end of each month after making the payments required by subsection (1) of this section shall be applied, as soon as practicable after the end of that month, in accordance with section 99p of this Act.

The Board shall pay to the Industry Board all profits derived from the operation of sports betting, less money deposited in the separate account established under section 99r of this Act to maintain it at such level as the Industry Board from time to time determines to recoup any shortfall in the fixed-odds sports betting pool.

The Board shall ensure, in accordance with any rules in force under section 99J of this Act, that any shortfall in respect of fixed-odds sports betting is not recouped from money derived from totalisator sports betting.

The Board, in accordance with any rules in force under section 99J of this Act, shall establish a separate account into which shall be deposited such part of the profits from fixed-odds sports betting as will maintain the account at the level determined by the Industry Board under section 99p of this Act.

Any shortfall in the fixed-odds sports betting pool shall be recouped from the separate account established under subsection (1) of this section.”