New Zealand is about to incorporate a new gambling reform

New Zealand is about to incorporate a new gambling reform

New Zealand is about to incorporate a new gambling reform

Over the past few years are all witnessing the rapid global growth of the casino gambling industry.

 

There is a call from IBIA for New Zealand to implement the international gaming license system

 

Series of consultations have been recently held in New Zealand to discuss their changing gambling regulations. Different betting companies give their opinion on what improvements might be made.

IBIA (The International Betting Integrity Association) insists on the idea for New Zealand to adopt an international gaming license system. The new regulatory structure would enable international operators to acquire a license in the country. The Association finds this structure as very successful as it has been already used in other markets. It would allow a big number of variable gambling products to be introduced in their iGaming market.

The current number of operators allowed to offer online betting services in the country is not big. TAB and Lotto NZ are the only two organizations allowed to offer online gambling services in New Zealand. They are both run by the state.

There will be no longer a monopoly on the iGaming market with the change in legislation in New Zealand. Additionally to this, as another reason can be given the fact that many residents are choosing to play at foreign sites.

When it comes to the taxation the IBIA’s statement is that New Zealand should take a proportionate approach in this plan. The government should not view the new structure as a revenue raising tool. Too high taxation would repel many operators to pay for a license within the country.

To stop losing local players the government should ease up on betting limitations. According to the IBIA the heavy restrictions placed on the types of gambling that would be permitted will only drive local players to play abroad.

Follow the Good Practices

The similar structure implemented by the UK can be pointed as a good model as it was very effective. According to the IBIA the British experience is regarded as one of the best in the world. By implementing severe regulations the British Gambling Commission allows all types of betting in the country.

The new regulatory reform New Zealand is about to incorporate should destroy the monopoly currently existing in the country and stop losing local players. The government are doing their best to find a middle ground on their regulatory reform. The discussions on the topic are coming to an end. The result will be seen soon.

Latest Casino News

Sep 01, 2022
For online casino players, NetEnt slots are among the most favourite. What makes them so special? How do Net Entertainment slot features differ from those of the direct competitors? What…
Jul 20, 2022
As a popular form of entertainment playing online casino games is mainly done for fun and with the hope to win. Given the fact that there are countless casinos on the market, it is…
Jun 24, 2022
Good news from Blackpool, England where a lucky woman won £1,000,000 through Pragmatic Play’s Wolf Gold scratchcard on PlayOJO. The happy winner became the very first 2020 millionaire in…
May 11, 2022
After the cold winter months and the windy spring days it's great time to embrace the warmer summer weather. You can greet and celebrate the summer either by going outdoors or you can enjoy…
Apr 09, 2022
As a form of entertainment online gambling has become incredibly popular all around the world. There are millions of casino players who spend hours online with their favourite casino games…
Mar 16, 2022
The 2020 World Series of Poker (WSOP) was one of the massive events that had to be postponed or cancelled because of the COVID-19 pandemic. This global annual casino championship was…
Mar 01, 2022
Playing online casino games is a popular leisure activity for millions all over the globe. People play for entertainment purposes and enjoy the win as a bonus treat. It is important not to…
Feb 15, 2022
Each season comes with its temperature changes, lush colors, typical natural design and moods. The diversity of nature gathered in the 4 seasons of the year have become a source of…