Key points:
– Up to 15 Exclusive Online Casino Licences: The bill announces an extremely competitive auction system for awarding up to 15 online casino licences, securing only the best operators can participate.
– Strict Advertising Guidelines for Licensed Operators: Licensed operators will be granted the chance to advertise their platforms, but only under strict regulations. Unlicensed activities will face hefty penalties of up to NZ$5 million for non-compliance.
– Focus on Protection and Compliance: This Innovative thinking legislation puts consumer protection, harm minimisation, and strict tax compliance at the forefront, ensuring a safer and more regulated online gaming environment.
The New Zealand Minister of Internal Affairs, Brooke van Velden, has introduced a bill. This bill aims to regulate online casino gambling in the House of Representatives. Officials in New Zealand have decided to move ahead with new laws. These laws will regulate online casino gambling, which is currently unregulated.
The bill proposes a new licensing system for online casino gambling in New Zealand. Under the draft legislation, up to 15 licenses will be made available through an auction process. Companies that want a license must send detailed information to the regulator. This includes their business plans for operating in the country.
In addition, licensed operators will be permitted to advertise their services, although subject to specific restrictions. Unlicensed gambling operations will be banned. Those who break this law could face fines of up to NZ$5 million.
Additional regulations are currently being developed to outline advertising guidelines and harm minimisation standards. These will establish the detailed obligations that licensed operators must follow once the system is in place.
Good to know: Last year, the Minister said that the goal of allowing casinos is not to increase gambling in New Zealand. Instead, it is to make sure that operators follow rules for protecting consumers, reducing harm, and paying taxes
Van Velden said, “The Online Casino Gambling Bill will create rules for online gambling in New Zealand. It will focus on reducing harm, protecting consumers, and collecting taxes.”
“The Bill will go to the select committee later this year. New Zealanders will be able to share their views during this process.”
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