No, not the annoying idiot Sarah Palin’s phrase, but actual betting. They’d allow this in the states except for the fact that nobody here would care, From Yachting New Zealand;
It’s now possible to bet on yacht racing. Yachting New Zealand has reached an agreement with the New Zealand Racing Board which allows the Board (TAB) to conduct betting on yachting.
Most major New Zealand sports have allowed betting for some time, and this is sanctioned under section 5 of the Racing Act 2003.
Yachting New Zealand’s Chief Executive Des Brennan says, "Most sports funding is sourced from gaming activity, and when Yachting New Zealand sought the views of members last year, we found that there was little strong opinion against the move."
While it is not foreseen that funding from betting will be a major source of income, it is hoped that it will be a useful one. It is also hoped that any promotion of events carried out by the TAB will increase the visibility of yachting and increase interest in its principal regattas.