The International Betting Integrity Association (IBIA)<\/strong><\/em><\/a> 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. <\/p>\n\n\n\nUK\u2019s model for integrity, \u201cis widely seen as one of the most effective and is an example of best practice\u201d<\/em>. Similarly to the UK, New Zealand should adopt measures in terms of the regulator\u2019s legislation. That would include the ability to: issue codes of practice, prosecute offences, exchange information, require the provision of information and to void bets.<\/p>\n\n\n\nFurthermore, 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. \u201cIn 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,\u201d <\/em>the IBIA said. <\/p>\n\n\n\nThis is a part of New Zealand\u2019s 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.<\/p>\n","protected":false},"excerpt":{"rendered":"
IBIA pushed country’s government to adopt a regulatory regime that allows operators to secure licenses for diverse range of products.<\/p>\n","protected":false},"author":133,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The International Betting Integrity Association (IBIA) has urged New Zealand to adopt a comprehensive regulatory and fiscal framework for online gambling, advocating for GGR-based taxation (15-20%) over turnover models, citing successful examples like the UK. The association also emphasized the need for a robust regulator with enforcement powers and the expansion of licensed operators to offer a diverse range of sports betting products, aligning with the ongoing public consultation.","focusai_entities":"International Betting Integrity Association (IBIA), Lotto NZ, Totalisator Agency Board (TAB)","focusai_location":"New Zealand, UK, Denmark, Sweden, Spain","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.9), affiliate_publisher (0.7), product_ux (0.7), marketing_crm (0.7), payments_fraud_aml (0.7), investor_analyst (0.9), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"NZ Regulator Powers?","query":"What specific legislative amendments are required to empower the New Zealand regulator with the proposed enforcement capabilities, such as prosecuting offences and voiding bets?"},{"label":"GGR Tax Impact?","query":"How would a 15-20% GGR tax rate impact the projected profitability and market entry strategies for international iGaming operators considering the New Zealand market?"}],"footnotes":""},"categories":[160,16336,153,156,155],"tags":[338,337],"class_list":["post-73","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-australasia-news","category-igaming-news","category-regulation-news","category-sports-betting-news","tag-new-zealand","tag-regulation"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/73","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/133"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=73"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/73\/revisions"}],"predecessor-version":[{"id":19995,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/73\/revisions\/19995"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=73"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=73"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=73"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}