Yachting: YNZ agrees to betting on sailing

Punters in New Zealand will be able to bet on sailing events again after Yachting New Zealand (YNZ) and the TAB betting agency reached an agreement.

TAB bookmaker Mark Stafford said today that the first event the agency had opened betting on was the Sydney-to-Hobart race, which starts on Boxing Day.

The next regatta on its books was the Louis Vuitton Pacific Series, beginning in Auckland on January 31.

The last time there was betting on yachting in New Zealand was during Team New Zealand's successful America's Cup defence in 2000.

YNZ chief executive Des Brennan said most sports funding came from gaming activity and there was little strong opinion from YNZ members against a new agreement with the TAB.

While funding from betting was unlikely to be a major source of income for yachting, YNZ hoped it would be a useful one.

- NZPA