New Gambling Regulations in New Zealand 2017
Gambling Regulations in New Zealand haven’t changed much since the 1900s. However, Internet gambling has recently come under scrutiny due to international betting agencies. These operators have recently been criticised for trying to offer wagers at local racing events. Racing events have been legal to bet on since 1908 in New Zealand.
Racing events are controlled by the Totalisator Agency Board (TAB), which form part of New Zealand’s lenient gambling laws. National lotteries also fall under TAB, as well as land-based casinos like SkyCity Auckland.
New Gambling Regulations to Aid Locals
Nathan Guy, the New Zealand Racing Minister, has proposed the new regulations to protect the local industry. Over 17 000 full-time jobs in the racing industry are at risk if agencies from outside New Zealand stay unregulated. An estimated NZ$1.6 billion in profits, from local racing operators, are also at stake.
Protection of Local Operators
Part of the new Gambling Regulations will include royalties for operators that are not based in New Zealand. Theses royalties are expected to include a point-of-consumption rate of roughly 2%. In other words, Kiwi players using international agencies will be charged above their bets to wager with overseas agencies.
Other Gambling Regulations Overseas
Compared to countries like China, federal gambling laws in New Zealand make it easier for Kiwis to gamble anywhere. In China, gambling is only legal in Macau and that is conditional at best. After the Melco Crown arrests in 2016, it’s likely that those laws will also be revised. Luckily for New Zealanders, revisions seldom happen with any big changes having occurred since 2003.
Gambling Regulations for Online Casinos
While overseas racing operators will be subject to the new regulations, online casinos are still not allowed to be based in New Zealand. Kiwi players don’t need to worry about being subjected to the new regulations as long as they use local operators to bet on racing and sporting events. In New Zealand, sports betting is a popular pastime and a great way to gamble.