IBIA pressures New Zealand to adopt iGaming licensing model

IBIA pressures New Zealand to adopt iGaming licensing model

IBIA pushed country’s government to adopt a regulatory regime that allows operators to secure licenses for diverse range of products.

New Zealand.- The International Betting Integrity Association (IBIA) highlighted that taxation systems based on gross gaming revenue have proven to be much more effective than turnover-based taxes. It believes a tax rate within the range of 15% to 20% of the gross gambling revenue would prove more successful. Markets such as the UK, Denmark, Sweden and Spain were mentioned as successful examples of the licensing model.

UK’s model for integrity, “is widely seen as one of the most effective and is an example of best practice”. Similarly to the UK, New Zealand should adopt measures in terms of the regulator’s legislation. That would include the ability to: issue codes of practice, prosecute offences, exchange information, require the provision of information and to void bets.

Furthermore, the association hoped to see a large range of legal online sports betting products available. Firstly, in terms of types of bet and secondly, in the range of events on which bets may be placed. “In addition to the development of a suitable regulatory and fiscal structure for sports betting, it is also fundamental to the viability of the market that licensed operators are able to offer a wide range of sports betting products,” the IBIA said.

This is a part of New Zealand’s public consultation to measure public support for regulating new forms of online gambling. Currently, Lotto NZ and the Totalisator Agency Board (TAB) are the only operators who may offer gambling products online. However, the government opened the consultation to discuss expanding the range of companies allowed to operate in New Zealand.

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