By HELEN TUNNAH
The Totalisator Agency Board (TAB) has been told it cannot take bets on the America's Cup or challenger series after a row over gambling at the last event.
Neither the nine challengers, the cup defender the Royal New Zealand Yacht Squadron, nor the International Sailing Federation backed betting on the yacht racing here, although betting agencies in Australia and Britain are taking bets.
A row broke out in 1999 at the Louis Vuitton Cup after the AmericaOne syndicate unexpectedly lost a vital race to the French boat 6 Sens.
The result shut the New York Yacht Club's entry, Young America, out of the semi-finals, prompting accusations that AmericaOne crew had bet on their boat to lose.
Skipper Paul Cayard denied the claims, and his crew was cleared by a subsequent inquiry.
Rules for the current Louis Vuitton Cup regatta and the defence require the agreement of all the challengers and the defender before Yachting New Zealand can talk to the TAB about offering odds.
The rules also ban crew members from betting on races anywhere.
Yachting New Zealand chief executive Simon Wickham said the organisation would not pursue a betting agreement without the backing of all the groups.
It reaps significant financial benefits from the cup, estimated at about US$300,000 ($630,000), as its share of fees raised from the 10 syndicates.
TAB spokesman Mark Stafford said the agency had expected between $3 million and $4 million to be bet on races, twice the turnover of the last cup.
"It's a shame. I'm really disappointed that we're unable to offer it."
nzherald.co.nz/americascup
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