Baseball betting in New Zealand

Updated October 2026
Licensed
usAvailable in US
Fast payouts
18+ Only

Baseball sits in an odd position on the New Zealand betting market. The country’s only lawful online racing and sports operator carries an American game that the rest of the world plays in patches, and the longer shortlist of bookmakers most international readers have already met is, for New Zealand residents, simply not on the table. Knowing how the sport is wagered is one half of the picture; knowing who you may actually bet with is the other.

A ball on the centre spot of a grass pitch in morning light
Major League Baseball has 30 teams, 29 in the United States and 1 in Canada, split evenly between the National League and American League, and each team plays 162 regular-season games.

This guide covers both. It walks through the legal frame, the markets on offer and the maths behind the margin, then sets out the brands a New Zealand bettor actually meets — the licensed pair, and the offshore names that publish prominently elsewhere but have no lawful route into the country. Where the law is settled, the page says so. Where the law is silent, it says that too.

Current as of 31 October 2026; reviewed against the Racing Industry Act 2020 and the Racing Industry Amendment Act 2025, with the Department of Internal Affairs (DIA) as the regulator named in both.

How the law shapes what you can do

The headline rule is short: since 28 June 2025, only one provider may lawfully take racing and sports bets from a person in New Zealand. That provider is TAB NZ, and the statute that locks it in is section 74AAA of the Racing Industry Act 2020, inserted by the Racing Industry Amendment Act 2025. The amendment took effect on 28 June 2025, and DIA told unlicensed providers serving New Zealand to withdraw with immediate effect.

An empty football stadium with floodlight masts at dusk
The New York Yankees have won the most World Series titles, with 27.

The change matters less for the betting mechanics than for the menu. Before 28 June 2025, several overseas operators accepted New Zealand customers under a point-of-consumption charge. After it, the same act of taking a sports bet from someone in this country, regardless of where the operator is incorporated, is a breach on the operator’s side. The monopoly is structural rather than aspirational.

TAB NZ runs its business through two online brands: TAB and Betcha. The two are operated by Entain NZ under a 25-year partnership signed in 2023, which splits gross profits 50/50 with TAB NZ and committed Entain to at least NZ$150 million a year to TAB NZ for the first five years, plus a one-off $100 million payment to the racing sector. They are not rivals. A bettor holding an account with one has the same status and the same protections with the other, and a self-exclusion applies across both brands.

For offshore bookmakers, the situation is straightforward even if their own websites can be reached from New Zealand: they are not licensed here and they have no lawful route to take a New Zealand bet. Spinbara, 22Bet, BetNinja, Winz.io, Golden Panda, Telbet, BigClash and BillyBets all name licences — Curaçao, Anjouan, Tobique, the Union of the Comoros — none of which cover New Zealand. Their pages are reachable, their sign-up flows are open, and the law is that the operator in question is the one out of compliance for taking the bet, not the bettor.

What that leaves a New Zealand punter choosing between, in practice, is one of the two TAB NZ brands. Inside that frame, the choice is about market depth, in-play availability and the in-app experience rather than about which firm you bet with.

What the statute actually says

Section 74AAA does three things at once. It confirms TAB NZ’s exclusive right to offer racing and sports betting to a person in New Zealand; it strips the offshore grey market of its previous point-of-consumption legitimacy; and it leaves the regulator — DIA — to enforce against operators supplying the country. There is no licence to apply for, because there is only one lawful provider, and so no register to consult.

An empty courtroom with wooden benches in morning light
The Los Angeles Dodgers won the 2025 World Series 4-3 over the Toronto Blue Jays, clinching on 1 November 2025 with a 5-4 win in 11 innings in Game 7.

The Racing Industry Act 2020 is the wider frame; the Gambling Act 2003 carries the regulator’s powers and the age rules. The Online Casino Gambling Act 2026 opened a separate casino-gambling track from 2026 onwards, but casino gambling and sports betting are two different permits under two different statutes — a casino licence held by TAB NZ does not in itself alter who may take your sports bet.

What is allowed for the bettor

Section 19(4) of the Gambling Act 2003, inserted in 2025, makes one thing explicit: no individual may be convicted merely for placing a bet with an offshore operator in breach of section 74AAA. No published penalty exists for the bettor. The legal pressure lands on the operator. The wording to keep in mind, as a New Zealand punter, is that the operator is the one out of compliance, DIA has flagged the risks in writing, and no source states a fine on the player.

Greyhound racing and the next change

Greyhound racing closes in New Zealand in stages from 1 August 2026. From that date, an offshore operator may not take bets on greyhound races here either. The point matters for baseball punters only at the margins: it is one of several signals that the same enforcement logic is being applied more broadly as the new framework beds in.

What the regime does for someone who needs help

The legal monopoly and the player-protection framework sit on the same side of the table. Because only one lawful provider exists, every legal channel for help — helpline, self-exclusion, deposit caps — runs through TAB NZ’s own tools and the public agencies behind it.

Deposit limits, time-outs and self-exclusion are all available inside the TAB NZ app. The exclusion covers both TAB and Betcha, so a self-excluded account stays excluded across the operator’s two brands. The free Gambling Helpline is 0800 654 655, with a text line on 8006. The harm-minimisation service that the levy funds is Safer Gambling Aotearoa.

TAB NZ also contributes to a Problem Gambling Levy set at 0.74% for the period from 1 July 2025 to 30 June 2028, which underwrites the public-facing side of the same system. The point is consistent across statute and operator: the safest way to bet on baseball in New Zealand is the legally lawful way, not because the offshore option is somehow secretly unsound, but because it is the only way that maps onto the country own harm-minimisation framework.

Where an offshore account leaves you

For an offshore account, the relevant safeguards do not exist. There is no New Zealand harm-minimisation framework that reaches the operator, no New Zealand complaints route, and the self-exclusion register the new casino law will introduce is for online casinos only — it does not cover the offshore sportsbook a New Zealand punter might already hold. DIA warns that these operators may be in jurisdictions with minimal consumer safeguards, may not return unspent credits, and may not pay out large wins. Settling a dispute means pursuing the operator in the jurisdiction it is licensed in, on its own terms.

What safer play looks like in practice

Set the deposit cap before the first bet; pair it with a time-out you actually intend to use; and use the helpline rather than carrying the problem alone. The tools exist on the lawful side of the market precisely because the rest of the law pushes punters there.

Markets you will see, and how the odds are built

Baseball has a short set of mainstream markets once you trim the noise. The same handful of bet types appears across the world’s baseball books: moneyline, run line, totals, and a layer of player-props and innings-level bets on top. The difference at the New Zealand end is that the menu comes only from TAB NZ’s own betting rules — not from a wider ecosystem that New Zealand punters might otherwise compare it with.

A baseball game itself is built from nine innings, three outs per half-inning, with extra innings if the score is tied after nine. Three strikes make a strikeout; four balls make a walk; nine players take the field. Major League Baseball runs 30 teams — 29 in the United States, one in Canada — split evenly between the National League and the American League, with 162 regular-season games per side. The postseason sends six teams from each league to a four-round tournament in October, ending in the best-of-seven World Series between the two league champions. Most markets flow from those simple structures.

Moneyline

The moneyline is the basic two-way (or in MLB’s National League parks, occasionally three-way) market: pick which team wins. Where a starting pitcher is named, the bookmaker’s line is usually based on the named pitcher and may be adjusted if the pitcher is scratched close to first pitch. The price moves on action.

Run line

The run line is baseball’s handicap. The most common line is -1.5 / +1.5, meaning the favourite must win by two or more for the run line bet to pay, and the underdog must keep the margin to one run or win outright for the +1.5 side to pay. Half-runs remove the push. Alternate run lines stretch to ±2.5 and beyond for uneven match-ups.

Totals (over/under)

The book names a total runs figure for the game; you take over or under. Lines typically sit in the eight-to-ten run band for an average MLB game, with the number set by the bookmaker’s own modelling. Push rules apply on whole totals: if the total lands exactly on the line, the bet is void.

Player props and innings markets

The longer tail of markets covers batter and pitcher props (strikeouts, hits, total bases), first-inning lines, and team totals. These markets vary more across operators and are the place where an in-play product can stand out. TAB NZ’s published product covers a representative range; a punter comparing the platform with US-facing sportsbooks will find a more limited menu on the same sport.

How the prices are written and paid out

TAB NZ quotes odds in decimal form (the $2.10 kind), in line with Australian and New Zealand standard practice. The implied probability sits inside the price; the bookmaker’s margin sits inside that. Decimal odds convert to a backable return by multiplication only: return = stake × odds. Profit, on a win, is stake × (odds − 1). That arithmetic is the spine of every payout discussion on this page and is worth keeping in plain sight.

Why the menu at TAB NZ is what it is

The reason TAB NZ’s baseball menu looks narrower than a US-facing sportsbook is mostly about audience. TAB NZ is a national operator tuned to Australian and New Zealand sports calendars — racing, rugby union, rugby league, football — with baseball as a smaller line in the offering. The MLB regular season runs through April to October; the postseason finishes in early November. Outside the postseason and the marquee interleague play, the action is a late-night proposition for a New Zealand audience. That alone shapes how the in-play product is staffed.

Tournaments and what the calendar looks like

Baseball’s competitive calendar runs on a different beat from most sports New Zealand punters follow. The MLB postseason is the largest single chunk, with the World Series as the closing fixture. The 2025 World Series was won by the Los Angeles Dodgers 4-3 over the Toronto Blue Jays, clinched on 1 November 2025 with a 5-4 win in 11 innings in Game 7; Yoshinobu Yamamoto took the MVP. The New York Yankees, with 27 titles, hold the most World Series wins in MLB history.

Below MLB sit the minor leagues, college baseball and the international game run by the World Baseball Softball Confederation (WBSC). For a New Zealand bettor the menu is narrower than that of the sport’s core audience: international baseball gets smaller lines, and most of the betting interest sits on MLB, the World Baseball Classic and the postseason fixtures the calendar naturally concentrates.

What the year looks like

Opening day for the MLB regular season tends to fall in late March or early April. The 162-game schedule runs into late September or early October. The postseason then opens with the Wild Card Series and progresses through the Division Series, the League Championship Series and the World Series. Outside that arc, the most consequential events are the All-Star Game, usually in mid-July, and the international windows in which the WBSC stages events for national teams.

Why the postseason takes the bets it does

Most of the betting handle on baseball, in any sportsbook that carries the sport, concentrates in the postseason. Series-level markets open ahead of the Wild Card round, and the closer the World Series gets, the more markets get layered on: series price, game-by-game line, totals, player props and live in-play. For New Zealand punters, this is the window where the time-zone penalty eases — the postseason runs into late nights, but it stays watchable, and TAB NZ carries the games.

How a New Zealand punter can approach timing

For most of the regular season, MLB action starts in the New Zealand morning; for the West Coast games, late afternoon or early evening. That makes pre-match the easier read for a settled bet and a tougher one for an in-play product — the action is over before many punters reach the betting slip. Postseason games shift later, which is when live markets come into their own. Comparing an MLB morning game with an MLB evening game is, in practice, a comparison between two different products at TAB NZ.

The shortlisted brands a New Zealand punter will meet

The shortlist below is not a leaderboard. It is two distinct lists, treated as two distinct things.

The first list is the licensed pair — TAB and Betcha — both operating as TAB NZ’s two brands. The second is a set of names that international readers will recognise, and that New Zealand readers will see advertised, but that are not licensed in New Zealand and have no lawful route to take bets from a person here. They sit on this page not for ranking but for clarity.

Brand New Zealand status What the operator says about its baseball offer
TAB TAB NZ brand Long-running licensed sports and racing bookmaker; carries baseball lines, fixed-odds and in-play
Betcha TAB NZ brand Newer TAB NZ app published by Entain NZ, first released 6 August 2024; carries sports and racing including baseball
Spinbara Not licensed in New Zealand Markets a first-deposit bonus in EUR and a USDT sports welcome; no MLB markets named
22Bet Not licensed in New Zealand Lists over 30 market types per event across its English site, including 1X2, Double Chance, totals and correct score
BetNinja Not licensed in New Zealand Combines a casino welcome (EUR 1,000 plus 100 free spins) with a sportsbook first-deposit match
Winz.io Not licensed in New Zealand Runs a sportsbook under separate Sportsbook T&C; no baseball markets confirmed
Golden Panda Not licensed in New Zealand Sports and esports sections sit alongside a casino product; prediction markets for sports
Telbet Not licensed in New Zealand Markets a 200% welcome package plus a small free bet; baseball markets not confirmed
BigClash Not licensed in New Zealand Pre-match and live sportsbook with virtual and esports alongside
BillyBets Not licensed in New Zealand Sportsbook and casino under one account; lists baseball among its covered sports

The column on the right says only what each operator’s own terms describe; it does not endorse the offer or the operator. Where a row is silent on baseball specifically, the page names the broader product and lets the reader decide whether to check the operator’s own Wettprogramm or betting slip.

TAB

TAB is the more established of TAB NZ’s two online brands. The operator runs fixed-odds sports and racing, in-play where its own products allow, and a trackside live-race stream with in-app betting. Safer-gambling tools (deposit limits, time-outs, self-exclusion) sit in the app. The age floor at the betting product is 18 — TAB’s app carries a 17+ App Store age rating while stating that customers must be 18 or over to bet.

Verdict: TAB is the lawful default for baseball betting in New Zealand. The choices are around market depth and in-play coverage rather than which firm you use, because TAB and Betcha are two brands of the same operator — picking one is picking a different front end on the same licence.

Betcha

Betcha is the newer TAB NZ brand, published by Entain NZ, first released 6 August 2024. It runs the same betting engine and the same statutory licence as TAB, with a sports and racing menu that includes baseball. Operationally, an existing TAB customer has the same protections and the same monopoly-leveraged odds in either app, and a self-exclusion set on one brand covers the other.

Verdict: Betcha is the same lawful option through a different app. Choose it when the Betcha interface or feature set fits the way you bet, not when one tab is “better” than the other — the betting rules and the legal standing are shared.

Spinbara

Spinbara is a casino and sportsbook combo running overseas, holding no licence to take bets from people in New Zealand. The site publishes a first-deposit bonus in euros and a separate USDT sports welcome. Nothing in the operator’s own terms says that baseball is a covered sport; the brand is on this list because New Zealand readers see it in marketing.

Verdict: named offshore. The licence it holds gives no right to take New Zealand bets; the New Zealand harm-minimisation framework does not reach it; the regulator has said in writing that it is in breach for taking bets here. A New Zealand punter who wants baseball at all pays for the choice with the protections the framework otherwise provides.

22Bet

22Bet holds a Curaçao licence (8048/JAZ) under TechSolutions Group N.V. and markets a wide market range — over 30 market types per event, including 1X2, Double Chance, totals, both teams to score, correct score and HT-FT, with tennis game, set and handicap markets on tennis. The licence does not cover New Zealand.

Verdict: deep market list, no New Zealand route. The breadth is real; the protection layer behind the bet is not. For a New Zealand punter looking at 22Bet, the comparison being made is not product versus product but product versus monopoly.

BetNinja

BetNinja is an offshore casino and sportsbook with a casino welcome and a sportsbook first-deposit match. The licence it names is the Union of the Comoros. The product mix is heavier on casino than on the long-tail sports markets.

Verdict: another offshore name, broader casino focus. New Zealand coverage is not established and the licence offers no local hook.

Winz.io

Winz.io runs a sportsbook under separate Sportsbook T&C, Sports Rules and Bonus Terms pages, with a Curaçao-derived structure holder Novatrix SRL. Nothing in the operator’s own terms confirms a baseball market.

Verdict: an offshore book with no confirmed baseball line on this side of the monitoring. The structure of its terms suggests it plays the same game as the rest of this list — broad in feature surface, thin in baseball markets.

Golden Panda

Golden Panda markets a sports section that includes a sportsbook, esports and virtual sports, with casino, live casino, crash games, rewards, cashback, a VIP club, Golden Goals and Prediction Markets sitting alongside. No licence applies to New Zealand.

Verdict: feature-dense, baseball-thin, jurisdiction-out. The product is real for punters in covered regions; a New Zealand punter’s protection sits elsewhere.

Telbet

Telbet describes itself as a crypto casino and sportsbook, with a 200% welcome package plus a small free bet. No New Zealand-relevant licence is named; no baseball line is confirmed.

Verdict: same offshore-with-crypto shape as the rest of the long tail; the framework question is the same and the answer is no.

BigClash

BigClash runs pre-match and live sports betting across international and local leagues, plus virtual sports and esports under a Curaçao licence. Baseball coverage is confirmed across the category in marketing.

Verdict: a generic international bookmaker with no New Zealand presence. The licence holder is overseas; the regulator that can act on it for New Zealand bets is DIA, and DIA has already told operators serving New Zealand to stop.

BillyBets

BillyBets is an offshore casino and sportsbook under one account, with the sportsbook covering football, tennis, table tennis, basketball, ice hockey, American football, baseball, combat sports, esports, virtual sports and live betting. No New Zealand licence is named.

Verdict: a brand that names baseball on its product page. That product page is genuine for the punters it is licensed to serve; for a New Zealand punter, it is not the legal route, and the question of whether to use it is the question of whether the offshore option suits your position on risk. The lawful answer remains TAB NZ.

How the maths is built, and what the margin actually looks like

Every baseball price carries an overhead inside it. The bookmaker makes its money not by charging for the bet but by pricing every outcome a touch short of a true odds-on reflection of the market. The measure of that short-fall is the margin, sometimes called the overround or the vig. A two-way market at $1.90 / $1.90 is the cleanest illustration.

Set up the wager with one unit on each side, and the total returned on a winner is $1.90. Of the $2 wagered, $0.10 has disappeared into the price: a 5% margin. At $1.85 / $1.85, the return on the winner is $1.85 against $2 staked, a margin closer to 7.5%. At $1.95 / $1.95, the return is $1.95 against $2 staked, a margin closer to 2.5%. The relationship runs the other direction: a margin of 5% sits inside prices close to $1.91, a margin of 3% sits inside prices close to $1.94, a margin of 8% sits inside prices close to $1.86.

The general form is the payout share: 1 / (1/odds₁ + 1/odds₂ + … + 1/oddsₙ) over every outcome of one market. The margin is 1 − that share. Where the inputs are symmetric, this comes out clean. Where the prices carry favourite-and-underdog weight, the formula still works, and the same arithmetic gives you what the bookmaker keeps of every unit bet on that market.

For a New Zealand punter, the point of the exercise is what the punctuation implies: the law has just confined you to one bookmaker, and a bookmaker is not a non-profit. Whatever you pay for the privilege of betting on baseball, the margin is a real cost you absorb. There is no way around it; there is a way to read it, and the table of payouts above the league tells you how quietly it adds up.

Reading the price on a single bet

A bet of NZ$10 at $1.90 returns $19 if it wins (stake $10 plus profit $9). A bet of $50 at $2.50 returns $125 (stake $50 plus profit $75). A accumulator at odds of $1.90 × $2.10 × $3.20 returns the stake multiplied by the product: $1.90 × $2.10 × $3.20 = 12.768, so a $10 wager pays $127.68 if all legs win. The multiplication rule holds for any multi. The bookmaker’s margin flows through the same accumulator and compounds: a 5% margin at every leg does not multiply to a 25% margin on the multi, but the multi is wider in absolute price and the same mathematics is what produces both.

What “value” means at the margin

Value betting is a separate discipline, and the page does not endorse any system that promises it. The honest framing is: a bet is value when the punter’s own estimate of the probability is higher than the implied probability inside the price; the bookmaker’s margin stops that from being trivially easy to find. The runway sits in markets where the bookmaker is slow to react, not in the absence of the margin.

Where baseball sits in the wider New Zealand market

Baseball is a smaller line in TAB NZ’s offering than rugby union, rugby league, racing or football. That relative position is real for two reasons: the audience for baseball is smaller, and the calendar clashes with audience time-zone realities. Most of the actionable handle sits on the postseason, when the time zone eases and the World Series captures the wider sports public’s attention.

For a New Zealand punter, this means a slightly different kind of engagement. Pre-match bets on regular-season MLB games are settled against morning results; in-play markets make most sense on the evening games and the postseason window; props, totals and the run line are settled deeper in the slate than the equivalent markets for European or Australian sports. The experience of betting on baseball at TAB NZ is the experience of betting on a market where the book has fewer line moves to react to overnight, which is itself a measurable feature of the product.

The place of MLB in the New Zealand betting year

The MLB regular season is, in betting terms, mostly an evening-and-morning market for New Zealand. The Wild Card Series, the Division Series, the League Championship Series and the World Series all run late. TAB NZ’s in-app product is built to surface the games New Zealand punters can actually watch, and the postseason is where it pays off; the rest of the year, betting on baseball is a smaller line on a larger app.

NPB, KBO and the international game

For punters interested in the international game, the WBSC runs national-team competitions and oversees national leagues including Japan’s NPB and Korea’s KBO. These leagues carry smaller markets in most Western-facing books; TAB NZ’s coverage of them varies by season and is worth checking on the operator’s own programme page before relying on a long-term betting plan.

College baseball and the minor leagues

College baseball and the minor leagues sit below the MLB line. Where TAB NZ carries them at all, the markets are usually narrow and the volume of money is low. A New Zealand punter looking to lay money on a college fixture will find a thinner offering than the equivalent market for college basketball or college football, even within a US-facing book.

Reading TAB NZ’s offer in plain terms

TAB NZ’s wider marketing frames its product as the betting choice for New Zealand — in the running sense and across sports. That framing is accurate as far as it goes: TAB NZ is the only lawful option for sports betting in this country. The punter’s sensible question is what that gets you in practice.

What it gets you in practice is a fair-pricing monopoly with limited depth on American sports. The book runs the same fixed-odds and in-play engine across its racing and sports products; the menu is set by TAB NZ’s own betting rules; the safe-gambling tools (deposit limits, time-outs, self-exclusion) are inside the app; and the regulator is a New Zealand one with the power to act on the operator. The same features appear in Betcha under the same licence.

Verdict: the lawful choice is the safe choice — in the sense that the enforcement framework sits behind it. That same framework, though, means the choice of price is narrow. Compare the offer on a baseball game with a US-facing book on the same game and TAB NZ will usually run a wider margin; that is the price of the local protection.

Verdict: worth it for whom

For the New Zealand punter who might otherwise bet on baseball anyway, the answer is uncontroversial: TAB NZ is the only lawful route, and the protections sit behind it. For the New Zealand punter tempted by an offshore offer with deeper markets or a wider menu, the question is whether the deeper product is worth the loss of the New Zealand harm-minimisation framework. The market is what it is, and so are the protections.

Frequently asked questions

How does baseball betting work?

Baseball betting works by pricing each of a game’s possible outcomes — most often a winner, a handicap (run line) or a total runs line — into decimal odds and letting the punter back one side with a stake. The bookmaker makes its money through the margin built into every price, not by charging for the bet itself. A winning bet returns the stake multiplied by the decimal odds; the profit is the return minus the stake.

How do I bet on baseball?

Start with a TAB NZ account, which is the only lawful route for a person in New Zealand, and choose between the two brands TAB and Betcha — they are the same operator behind the same interface styles. Pick a market, choose a stake in dollars, confirm the bet on the slip. Most baseball bets are settled within minutes of the game ending; live in-play markets settle at the end of each inning as the line moves.

How do I bet on baseball games?

Game-level bets are settled on the final score and the line you took. The run line is settled by adding the handicap (typically ±1.5) to the final score; the total is settled by adding the runs each side scored and checking against the line you took; the moneyline is settled by the winner. Push rules apply to whole totals and pre-listed handicap lines — those bets are voided and the stake returned.

Which bookmaker may lawfully take sports and racing bets in New Zealand?

TAB NZ is the only operator authorised by section 74AAA of the Racing Industry Act 2020 to take racing and sports bets from a person in New Zealand, and the law took effect on 28 June 2025. TAB NZ operates through two online brands: TAB and Betcha. Every other bookmaker a New Zealand reader has met is outside the law to take bets from people here.

How is the return on a bet worked out from the stake and the odds?

The return is the stake multiplied by the decimal odds. For a single bet of $10 at $2.50, the return is $25 if the bet wins, made up of $10 stake and $15 profit. For a combination bet, the decimal odds of each leg are multiplied together first — odds of $1.90, $2.10 and $3.20 produce a multi price of $12.77 — and the stake is then multiplied by that combined price. The stake is only returned when the bet wins; a push voids the bet and returns the stake.

What is the bookmaker’s margin and how can it be seen in the odds?

The bookmaker’s margin is the share of every dollar wagered that the bookmaker keeps on average across a market. It is the difference between 100% and the payout share implied by the odds: payout share = 1 / (1/odds₁ + … + 1/oddsₙ) summed over every outcome of the market, and margin = 1 − payout share. A two-way market priced $1.90 / $1.90 implies a payout share of 95% and a margin of 5%; the same market priced $1.85 / $1.85 implies a payout share of roughly 92.5% and a margin of 7.5%.

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