ts betting firms OpenBet and Paddy Power Betfair have been announced as the chosen partners of the New Zealand Racing Board (NZRB) as it looks to develop and expand its fixed odds betting business.

The partnership will see the creation of a new fixed odds betting platform utilising OpenBet’s software which will be operated by Paddy Power Betfair, with significant investment by NZRB governance over the next two years.

New Zealand Racing Board Chair, Glenda Hughes said: “The new FOB offering will complement our already competitive Tote, putting NZRB in a much stronger position to manage turnover across both products, taking into account customer and channel preferences”

The NZRB hope that the new platform will be fully integrated and ready to receive bets by the start of the 2018/19 New Zealand racing season.

Matt Davey CEO of NYX Gaming which owns OpenBet, welcomed the announcement of the partnership: “We are focused on working with NZRB to develop a best-in-class technology that delivers a great player experience. We are honoured to be selected from what was a highly competitive tender process and excited for the project ahead of us.”

A representative of PaddyPower Betfair said: “We believe that the partnership will deliver long-term value for each of the racing codes and sporting bodies across New Zealand through the leveraging of our world class product and systems.”