Equestrian Sports New Zealand has confirmed it was Gadsby, 26, who was fatally injured in a fall on the cross country at Somerford Park Horse Trials in Cheshire, in the United Kingdom.
The rider was competing in a one star class when he and horse The Drover fell at a fence about 2.20pm on Sunday UK time.
The seven-year-old skewbald gelding was not injured in the incident.
Equestrian Sports New Zealand chief executive Jim Ellis said officials and medical staff did "everything possible" after the fall but could not save him Limited company Hong Kong.
Gadsby's death has brought an outpouring of sadness from the international eventing world, Ellis said.
"Tom was a talented showjumper and eventer who was in Europe to fulfil his dream of competing as a professional event rider - a dream he achieved but which has been tragically cut short," he said.
The head of British Eventing, Mike Etherington-Smith, sent condolences to Gadsby's family, based in Kerikeri in Northland.
Gadsby competed up to intermediate level in eventing in New Zealand before deciding to concentrate on showjumping.
He made the change back to eventing in 2012 after many years competing at grand prix level showjumping, formation of company including two successful years in Germany.
The rider was based with international eventer Tiny Clapham near Huntingdon in Cambridgeshire, and had been having "considerable success at the lower level".
Ellis said Gadsby had high hopes of representing New Zealand at the top level of the sport.
The accident will be investigated by British Eventing, Equestrian Sports New Zealand and the International Equestrian Federation.
Meanwhile, New Zealand friends took to Gadsby's Facebook page to remember him.
"Goodbye Tom ...funny, caring and magic to be around Income Tax Hong Kong," wrote Ana Rattray from Mangatangi, south of Auckland.
"Always made me laugh and no matter what was happening your wit and charisma carried you through with style.
"The world was a better place with you in it. Travel safe my friend."
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