TAB's boss is applauding Government moves to extend its monopoly.

Racing Minister Winston Peters has announced plans for legislation to ensure the TAB can be the sole online provider of sports and race betting - as well as in person.

Peters has expressed concerns about overseas betting sites.

TAB chief executive Nick Roberts says bringing it back to New Zealand will grow revenue and funding.

"It enables the support and growth of racing and sport in New Zealand - which is really what we're about here at TAB New Zealand."

LISTEN ABOVE