【777bet cassino】The Future of Licensed Online Gambling in New Zealand

Licensed online casino gaming77bet cassino currently planned for 2026, will ensure New Zealand's online gambling future.

New Zealandsurprised the online gambling industry by announcing that it is in the process of creating a licensed online casino framework.

The amended Gambling Act will aim to “minimise harm, support tax collection, and provide consumer protections”while encouraging the growth and development of a safe and honest online casino industry in New Zealand.

Licensed gambling gets the green light

For the most part, Australia and New Zealandare lumped together when it comes to how the industry views gambling regulations. However, the country has not regulated licensed online casinosuntil now.

Up until this moment, Kiwis were only legally allowed to gamble at sites outside NZ. However, this is set to change pretty soon.

“There will be a licencing system for online casinos, where operators will need to comply with a set of criteria before they will be able to offer services to New Zealanders. It will be illegal for unlicensed operators to offer services to New Zealanders.”

In a post on Beehive.gov.nz, the official website of the New Zealand Government, the Minister of Internal Affairs Brooke van Velden confirmed that the government has tacitly agreed to institute a multi-license gambling framework.

Thus, New Zealand's gambling regulations are becoming more severe. The government is adamant that it will only tolerate licensed operatorsto ensure the proper control and growth of the new licensed marketplace. Once the new regime is established, enticing a Kiwi player to gamble at unlicensed casinos will become illegal.

The regulation aims to protect player's first

While global casino operators rejoiced at the news, van Velden stressed that while the government will have a financial upside, that is not the primary focusof the new Gambling Act.

“Licensing is how we regulate most forms of gambling domestically. This is not intended to increase the amount of gambling New Zealanders do but to ensure operators meet requirements for consumer protection and harm minimisation, as well as paying tax.”

The government's decision to license the industry is based on its recognition of the demand for games of chance. It feels that a regulatory framework ensures that the country’s online gambling community can gamble responsibly and play in a safe and fair environmentrather than relying on potentially predatory offshore operators.

Casino operators are on hold until 2026

In a move that further supports its stance on community well-being, New Zealand will not open its borders to legal online gamblinguntil 2026at the earliest.

“I expect the new regulatory system to be in place from early 2026, and the public will have the opportunity to provide feedback during the Select Committee process. Once established, the Department of Internal Affairs will be the regulator.”

The post confirms that the government will only offer a limited number of licenses, which will have to be acquired through an auction. The licenses will be valid for three years, allowing operators to provide slots, table games, and other casino games in New Zealand.

However, the right to offer these products, even one licensed, relies on “meeting regulatory requirements.” Failing to do so will result in the online casino losing its license and being permanently expelled from the market.

While the newly minted market will allow license holders to advertisetheir bonuses and services through local media such as television, radio, print and local online outlets, it will still be illegalfor an online casino to sponsor sporting teams, venues and events.

Published: September 2, 2024