New Zealand discusses iGaming regulation
The International Betting Integrity Association urged New Zealand to adopt an iGaming licensing model for both foreign and domestic operators.
New Zealand.- As New Zealand discusses potential iGaming regulations, the International Betting Integrity Association (IBIA) addressed the issue. The group urged the government to allow foreign and domestic operators to secure licences for online gaming.
IBIA referred to markets like the UK, Denmark, Sweden and Spain to highlight the model’s success.
“It is important that, as with the countries employing a licensing system listed above, any licence fees are proportionate and wholly based on the necessary administrative costs of proper market regulation,” IBIA explained. “Licensing fees should not be used as a revenue-raising tool, and in effect an additional means of taxation. That would deter operators from seeking a licence.”
“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,” IBIA said. “Imposing restrictions invariably leads to consumers seeking those banned products through other markets, including unregulated offshore channels.
“The British Gambling Commission regulates and permits all forms of betting on all types of sporting events without any restrictions. It does so whilst maintaining a close oversight of the market and is continually working with its licensed operators, adopting an evidence-based policy approach.”
New Zealand forecasts
New Zealand could become a massive role in the online gaming industry in the upcoming years. A new report shows that by 2024, New Zealand could have a billion-dollar worth industry if it follows an industry development plan.
As revealed by the New Zealand Game Developers Association in a press statement, the introduction of a plan that focuses on investing in allowing interactive media to access existing screen industry programs would create hundreds of new jobs.
The Minister of Economic Development Hon Phil Twyford launched the Interactive Aotearoa report at Wellington games studio on Monday. The New Zealand Game Developers Association produced it with support from NZTech, WeCreate and government agencies. The report looks into the economic, social and educational benefits of interactive media, including games and apps.
Cassandra Gray, chairperson of the New Zealand Game Developers Association. “We’ve made a strong start, but our sector is still young and growing.”
