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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

Vermantia Platform Offers Retail Operators a Comprehensive Solution Through Single Integration

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Vermantia’s Aggregator Platform has earned numerous awards, establishing itself as an essential tool for retail operators. This unique platform seamlessly integrates diverse content with top-quality channels, offering retail operators a comprehensive solution through a single integration.

Vermantia, a pioneering technology company revolutionising the betting industry, offers a bespoke approach. It boasts a unique multi-vendor, multi-content platform delivering exclusive Virtual Sports Channels, premium international Live Sports, and Racing events, all accessible through a single API and Universal Scheduler. With an abundance of data, odds and videos spanning multiple virtual games, live sports, racing and information services, Vermantia ensures seamless integration with any bet acceptance system. Flexible delivery options include satellite broadcasting, ultra-low latency streaming and in-shop retail rendering solutions.

Content providers benefit from an API enabling them to deploy their entire product portfolio with a single integration. Meanwhile, operators gain access to, combine and schedule top-quality content from various vendors and product verticals through a unified integration. Vermantia’s platform features robust logging, reporting and financial monitoring capabilities, reflecting its commitment to customer and partner satisfaction through continuous technological advancements tailored to meet operators’ needs for superior content and performance.

This innovative Aggregator Platform has captured the attention of tier-one operators across Greece, Italy, the UK and beyond. Operators leverage the platform to produce and manage top-tier channels, including Virtual Games Channels, Live Racing and Live Sport Channels, customising them to their specific requirements. Vermantia’s platform solutions offer full flexibility, combining distribution, digital signage and content management tailored to each customer’s infrastructure.

Operators integrating Vermantia’s platform gain a competitive edge by enriching their live racing, sports and virtual channels with diverse, high-quality content through a single integration, a universal scheduler and robust reporting capabilities. In markets like Greece and Italy, partners now command over 50% of the market share, solidifying their leadership position in the industry.

Vermantia plays a crucial role in distributing content to retail operators, driving the development of innovative and engaging solutions. In the rapidly expanding retail market, access to seamless technological solutions gives operators a proven advantage, resulting in significant market share growth.

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Industry News

NOVOMATIC Launches XTENSION LINK Volume 2 at FIJMA

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Leading gaming technology Group NOVOMATIC was an exhibitor at the international trade fair FIJMA from May 7-9, 2024, boasting a stand full of innovative products for the Spanish market. The Group’s local subsidiary NOVOMATIC Spain launched the brand new XTENSION LINK Volume 2, which was the star of the show.

The international gaming trade show FIJMA took place from May 7 to 9 at the IFEMA exhibition centre in Madrid, bringing together a large number of industry leaders. NOVOMATIC showcased an extensive range of products perfected for the Spanish market.

This arcade game was presented in the high performing BLACK EDITION II 1.49J cabinet and attracted a lot of attention from visitors, especially with its GOLDEN SPINS feature which ultimately increases the player’s chances of winning. The XTENSION LINK Volume 2 with its ten thrilling titles, Expanding Reels Feature and Free Games takes the player experience to new heights.

“This cabinet is the result of hard and innovative work that has addressed the needs of our distributors and operators in order to offer a versatile and attractive experience for their gaming establishments,” Jordi Pedragosa, Commercial Director of NOVOMATIC Spain, said.

Other new products on display were the ROYAL LINK, “The Royal Seal for Arcades”, which offers extraordinary quality and excellence for an attractive price, and the NOVO LINE POWER LINK GOLD, which has come to Spain with a revamped and enlarged collection of games. Within this diverse offer for arcades, more powerful models were showcased, such as IMPERA LINK Series 2, CASH CONNECTION Fusion, River Queen Roulette or CLOVER LINK Xtreme, the latter from APEX.

NOVOMATIC’s local subsidiary also presented a wide range of products, exuding a level of freshness and innovation that positively captivated visitors. The section dedicated to the bar segment saw versatility resonating throughout these two new launches: NOVO LINE Supra Cash, with its fascinating games library including three roulette titles and IMPERA Cash Fusion, where Progressive Jackpot titles are combined with IMPERA classics. The second edition of NOVO LINE Power Cash was also shown with a series of new titles. All these models were showcased in the Winner HD+ cabinet, an evolution that features the NV22 bill acceptor. The nearly 1400 m2 of floor space tailored to the company stood out for the excellent way in which the company’s innovative products were staged and presented. Lighting and other decorative elements, fused with cutting-edge technology, played an important role in capturing the attention of visitors, for whom there were plenty of gifts and activities to be enjoyed. Of all the stand’s events, the one that stood out was the “Beat the Champ” event by Chris Mark, world table soccer champion, with whom guests could battle in an exciting duel.

Bernhard Teuchmann, Managing Director of the Product and Technology Division, said: “Participating once again in FIJMA has been a unique experience that has given us the opportunity to strengthen relationships with our customers and show our commitment to innovation. Our most sincere thanks go to all those who worked on preparing and attending this event with the same passion and responsibility that form the essence of who we are.”

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SiGMA Asia Awards 2024: Boomerang Partners Nominated for ‘Rising Star Affiliate Program’

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The fast-growing Boomerang Partners affiliate program continues gaining global recognition, earning a nomination for the prestigious ‘Rising Star Affiliate Program 2024’ category in the Asia region

With a rapidly growing network of over 5,200 affiliates across 70+ countries, the dynamic Boomerang Partners affiliate program has been recognized as a finalist for the ‘Rising Star’ category at the SiGMA Awards Asia 2024. While Asia is not currently the central focus for brand promotion, this prestigious recognition from SiGMA is a notable honor that inspires Boomerang to fortify its global footprint and industry-leading position.

In 2023 alone, Boomerang’s achievements included paying over €50 million to affiliates, creating 22 exclusive branded games, hosting 82 tournaments across 30 regions, and expanding into 31 new markets. This followed prestigious wins like ‘Casino of the Year’ at the SiGMA Balkans/CIS Awards, ‘Commission Offer of the Year’ at the AffPapa iGaming Awards, and ‘Best PPC Affiliate’ at the SiGMA Europe Awards.

This year, Boomerang Partners is highlighting innovations like a worldwide traffic tournament and has already been nominated at the AffPapa, MAC, and AskGamblers Awards – eagerly awaiting the results across these prestigious voting processes and final selections.

“We actively collaborate with SiGMA, having participated in their events and been honored with SiGMA awards in other regions previously,” said Vitalii Prokofev, CEO at Boomerang Partners. “SiGMA sets the standard with premier industry events and accolades worldwide. This nomination at their Asia awards is valuable recognition that fuels our ambition to raise our global profile further.”

Boomerang Partners invites all affiliate managers and industry enthusiasts to learn more about their award-winning program. Voting for the SiGMA Asia Awards runs until May 20th. Winners will be announced at the June 3rd ceremony during the June 2-5 event in Manila.

Support Boomerang in the ‘Rising Star’ category while voting for other favorites at SiGMA.

 

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