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Three Gambling Ways for NZ Government

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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

Betsoft Gaming Signs Partnership Deal with Simsino

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Betsoft Gaming has signed a partnership deal with Simsino, iGG’s newly launched casino brand.

The MGA licenced casino – simsino.com – will host Betsoft’s portfolio of table games and award-winning slots. Latest releases Alkemor’s Elements and the anime themed Kensei Blades, alongside classic hits The Slotfather and Weekend in Vegas are already available to play.

In order to further enhance gameplay, Betsoft launched its first promotional product, Take the Prize, earlier this year. The promotional tool will significantly add to the overall player experience by offering a random fortune wheel with cash prizes or bonuses in any of Betsoft’s qualifying games throughout any promotion.

Simsino has been designed to appeal to a younger player base looking for exciting promotions and fast, immersive gameplay. A generous Welcome Bonus and a unique “Simsino Cashback” feature are available as part of the Simsino loyalty programme. Furthermore, the easy-to-navigate site offers a streamlined user experience to take players straight to the games and promotions they want.

Anna Mackney, Head of Account Management at Betsoft Gaming, said: “We are delighted to be partnering with Simsino as they are a young and innovative brand. Betsoft has a diverse portfolio which appeals across many demographics and we anticipate a successful relationship with Simsino.”

John Foster, Head of Games & Aggregation Manager, iGG WhiteLabels, said: “Great content is a significant driver of customer traffic and so a provider of Betsoft’s calibre is essential for simsino.com and other iGG WhiteLabels. We look forward to seeing this partnership enhance players’ engagement with the brand.”

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Industry News

Entain Appoints Rahul Welde as Independent Non-Executive Director

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Entain plc, the leading global sports betting, gaming and interactive entertainment group, announced the appointment of Rahul Welde as an independent Non-Executive Director. The appointment will take effect from 1 July 2022.

Rahul was most recently Executive Vice President of Global Digital Transformation at Unilever plc where he drove digital strategies for the Unilever brands. He is an Indian national and brings over 30 years’ experience in the global fast-moving consumer goods sector. On appointment, Rahul will become a member of the ESG (Environmental, Social and Governance) Committee.

“On behalf of the Board, I am delighted to welcome Rahul to Entain. Rahul brings with him exceptional knowledge of customer experience excellence, ecommerce and digital transformation. I am confident that his skills and expertise will further enhance the Board’s ability to support and oversee the delivery of our strategy,” Barry Gibson, Chairman of Entain, said.

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Industry News

EM Group Joins Dutch Online Gambling Association

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The Dutch Online Gambling Association (NOGA) has welcomed EM Group as the newest member of the trade association.

The move comes as NOGA works to unite industry figures “under one flag” and to represent the industry’s collective interests as a whole.

The organisation has laid out some of its primary objectives, with two major goals being guarantees of consumer protection and the advocation of responsible gambling. NOGA hopes to achieve these through forging new partnerships and alliances with other key industry figures.

NOGA Director Peter-Paul de Goeij says the partnership has given NOGA a major boost, and that “EM Group also endorses NOGA’s core values ​​and objectives, and helps to achieve and defend them.”

He went on to describe how EM Group’s 15 years of international experience “is a great added value for us, and it also offers a wealth of additional expertise and experience that can only benefit the members of NOGA and the wider industry.”

EM Group MD Kees-Jan Avis said: “From EM Group we are very pleased to be part of the NOGA family.”

In describing NOGA and EM Group’s common goals, he said: “Think, for example, of the objectives and core values ​​with regard to the integrity and social responsibility of the sector.

“NOGA also endorses this and that is why we enter into the collaboration with great conviction and confidence. Our goal is to make a joint contribution to the online gambling market in the Netherlands and beyond.”

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