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Three Gambling Ways for NZ Government

George Miller

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Three Gambling Ways for NZ Government
Photo Source: parliament.nz/en/
Reading Time: 3 minutes

 

Online gambling is one of the most common pass-time activities in New Zealand. There are numerous casino sites that accept punters to access different games and win real money.

Recently, the NZ government launched a public consultation to test public support for regulating modern ways of online gambling. This comes as a result of the rapid technological developments that have been witnessed in the past years. The only operators allowed to offer gambling products online in the country are Lotto NZ and TAB.

However, it’s been noted that most New Zealanders from 15 years are gambling in offshore casinos. This article covers the three gambling ways for the New Zealand government and more.

#1 Way: A Full Legalization

The UK Gambling Commission (UKGC) was established in 2007 to oversee all forms of gambling and betting activities. Also, they are mandated to ensure that gambling is carried out in a fair and transparent way. Similarly, Spelinspektionen plays the same role in regulating gambling activities in Sweden.

Pros:

  • Anti-Money Laundering: They ensure that online casinos are not used for money laundering. All casino operators must conduct Know Your Customer (KYC) check before releasing any money.
  • Transparent and Fair Gaming: All customers must be treated in a fair and transparent way. The bonuses and promotions offered must have terms and conditions to regulate their use.
  • Responsible Gambling: All gambling sites including bookmakers and New Zealand online casinos must provide tools and advice to ensure that customers enjoy a safe gaming environment. Gamers with problem gambling can also self-exclude by registering at GamStop or Spelpaus.se.

Cons:

  • Application Time: Both licensing authorities have lengthy legal procedures to be followed, meaning the license will take several weeks or months before its ready to use. 
  • License Cost: The cost of acquiring a license from both authorities is relatively high. They check to ensure that the operator has not been involved in any fraud cases, and the casino account has enough money to start operating.

#2 Way: Partly Legalization

Each is allowed to decide whether or not to legalize sports betting in the United States of America. The move legalizes sports betting has been supported by various state lawmakers as well as the Congress. Some of the states where betting on sports is allowed include but not limited to Nevada, Delaware, New Jersey, West Virginia, and others.

Pros:

  • Increased Revenue: Legalizing sports betting leads to increased revenue income
  • Employment: online sports betting sites have created employment for many people as well as sponsoring different community projects.

Cons:

  • High License Fee: Some states charge a very high licensing fee of up to $45,000
  • High Percentage Tax: States in the US set a high percentage tax on the revenue of up to 6.5%.

#3 Way: Gambling Monopoly

Several countries around the world like Finland and Canada have state-controlled forms of gambling: both offline and online. For instance, in Finland, there are three bodies responsible for a specific form of gaming; RAY, Veikkaus Oy, and Fintoto Oy. In Canada, the province of Ontario still works under a monopoly system, where the Ontario Lottery and Gaming Corporation (OLG) is the official operator offering iGaming through PlayOGA.ca. 

However, most states controlled sports betting sites are facing competition from foreign operators. That’s why the governments have decided to block oversee operators from providing services to their citizens.

Pros:

  • Successful: State-controlled gambling states have been very successful, and it’s reflected in their annual revenue.
  • Donations: Most state-run gambling monopoly platforms channel their profits to charity and other good causes.

Cons:

  • High Rate of Problem Gambling: There have been increased cases of gambling addiction in most states with monopolized gambling.
  • Competition: State-controlled monopoly gambling sites are facing stiff competition from foreign online casinos. 

Conclusion

What’s the best way to choose? Now that we have seen what the position of each country regarding gambling organizations, it’s easy to suggest the best option to select. Of the three options, I think the method used in the United Kingdom and Sweden is way better than the other. Legalization is not just making money from taxes but also security and safety for players. 

Industry News

1X2 Network Integrates its Slots and Table Games with L&L Europe

Niji Narayan

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1X2 Network Integrates its Slots and Table Games with L&L Europe
Reading Time: 2 minutes

 

1X2 Network has integrated its fun and thrilling slots and table games with L&L Europe and its popular online casino brands.

Players at sites such as All British Casino, Fun Casino, Yako Casino, Hyper Casino and Race Casino will now be able to access chart-topping titles from the developer’s 1X2gaming and Iron Dog Studio subsidiaries.

“We are delighted to see slots and table games from 1X2gaming and Iron Dog Studio land in game lobbies across L&L Europe’s incredible brands including its latest casino offering, Race Casino. Our games have been designed to deliver the most entertaining experience to players while also giving them the chance to win big. Each of our games has something different to offer, starting with the Book of Undead and its horror theme,” Kevin Reid, Chief Commercial Officer at 1X2 Network, said.

“We believe our games will prove to be hugely popular with players across L&L Europe’s brands in markets such as the UK and Sweden and look forward to integrating additional titles under what will be a hugely successful partnership for both parties,” Kevin Reid added.

“We have been wanting to add 1X2 Network to our game portfolio for some time now, so it’s great to see the first in a series of games from 1X2gaming and Iron Dog Studio land in our lobbies for the first time. Its slots and table games are incredible fun to play and boast an impressive production value that our players will love. Of course, the chance to win big is also a huge part of the appeal and for this reason we believe 1X2 Network will become one of our most popular providers. In conjunction with the quality games, 1X2 Network provides players with a seamless, user friendly interface ensuring the games are accessible for all,” Jan Wienk, Marketing Manager at L&L Europe, said.

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Industry News

Kindred to Acquire Blancas NV from Rank Group

Niji Narayan

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Kindred to Acquire Blancas NV from Rank Group
Reading Time: < 1 minute

 

Kindred has entered into an agreement to acquire Blankenberge Casino-Kursaal (Blancas) NV from The Rank Group.

Blancas NV is the license holder and operator of the Blankenberge casino, which is one of the nine land-based casinos operating in Belgium. The company is owned by The Rank Group since 1998.

The acquisition price is GBP 25 million on a cash free and debt free basis and will be settled in cash upon completion.

The acquisition demonstrates Kindred’s long-term commitment towards the Belgian market and gives Kindred direct access to one of the nine casino licenses, which allows Kindred to continue to offer a broad offering to its Belgian customers. Blancas NV will be operated as a separate entity within the Kindred Group under the leadership of the current management team led by Dominique De Wilde.

The acquisition is subject to customary regulatory approvals and is expected to be completed in Q4 2020.

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Industry News

WorldMatch Partners with Versailles Casino

Niji Narayan

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WorldMatch Partners with Versailles Casino
Reading Time: < 1 minute

 

Online gaming expert WorldMatch has entered into a partnership with the Versailles Casino. As per the deal, WorldMatch will provide content to the extensive network of operators that can access the Versailles platform in the regulated Belgian market.

“We are very pleased to have them as partners and we strongly believe that they will create added value for our company and strengthen our presence in European regulated markets,” Andrea Boratto, Chief Executive of WorldMatch, said.

“We are very excited to be able to be present in the market that the internet represents and we have done it in the best possible way with a partner of choice which promises a fruitful and successful partnership,” Versailles Casino management said.

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