The racing industry has largely welcomed a report that calls for the closure of 20 provincial race tracks and possible outsourcing of the TAB to Australia.
Racing experts say changes are desperately needed but there are still a lot of question marks around how they'll be implemented.
The dilapidated Avondale Race Track, one of the 20 race courses named for closure, is $200 million worth of prime real estate.
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"Owners are falling away, returns are falling away, people working as stable hands are being made unemployed," Go Racing's Albert Bosma told Newshub.
Property developers and real estate companies are champing at the bit for the Avondale site.
But when Newshub asked Housing Minister Phil Twyford whether he has plans to build houses, here he hadn't heard about it.
"Um, I haven't been advised on that," he said.
The report says there are a few problems with New Zealand's racing tracks.
Our tracks conditions are so different that race results are unpredictable, and that means it's hard to find a sure bet - so people just aren't betting.
The report found horse racing here looks "shabby" on television, which is impeding the industry's success.
It's hoped that the $190 million needed to get racing infrastructure up to scratch will come from the sale of land, like the Avondale Race Track; the Government's provincial growth fund and from race clubs.
The racing industry overall contributes $1.6 billion to the economy. That's broken down to 67 percent from thoroughbred racing, 27 percent from harness racing and just 6 percent from greyhound racing.
Ten thousand full time jobs are created by the thoroughbred industry, with 58,000 participants in the industry overall.
The report says the best way to keep those people in work is to boost prize money.
It also proposes the outsourcing of the TAB and broadcasting operations to Australia to bring in more revenue.
No one at the Mt Albert TAB was keen to go on camera, but punters Newshub spoke to were looking forward to the bigger payouts offered across the ditch and agreed the Australians are better at racing coverage anyway.
But there are fish hooks.
"If we're giving up a 25-year wagering licence we need to make sure that we are getting a good upfront fee for that and make sure we are getting guaranteed income each year for that," Mr Bosma said.
The changes to the industry are drastic and critical, but there is a lot of detail to be worked through.
Newshub.
