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Online Casinos in New Zealand will Launch in 2026

Details: Category: Casino News; Created: Tuesday, 30 July 2024 14:03

Good news for gambling operators looking to expand into the New Zealand Casino Market. This is because the New Zealand government is currently working on the licensing and regulation framework for online casinos. If all goes according to plan, Online Casinos in New Zealand will Launch in 2026.

According to the latest casino news, The New Zealand government has agreed to create a high-level approach to online casino regulations. The regulations will be specifically made to reduce damage, facilitate tax collection, and offer consumer safeguards to players.

The decision by the New Zealand Government represents a crucial advancement towards establishing an open market. Furthermore, it is expected to address numerous ongoing challenges affecting the nation's gambling industry.

Brooke van Velden, the minister of internal affairs, said that once the new regulations are in place, players will have more protection. This is because operators will no longer be allowed to target players in the country.

Online Casino Licenses in New Zealand will be available by Auction

The government is currently in the process of developing plans for the regulatory framework, with Van Velden revealing some details. Her department will oversee the regulation of online casino operators in New Zealand.

For those wanting to open an online Casino, a set number of licenses will be up for grabs through an auction. Of course, bidders will have comply with regulatory standards. In addition, they must ensure that players must be at least 18 years old to play in their casino.

While limited advertising will be allowed for licensees, casinos must be separated from other forms of gambling. The New Zealand government stated that sports betting and lotteries cannot be offered alongside online casinos.

Van Velden emphasized that the goal is not to encourage more gambling among New Zealanders, but to ensure that operators adhere to consumer protection and harm minimization measures, as well as pay taxes.

The public will have the opportunity to give feedback on the regulatory plans during the select committee process.

The Online Casino Regulations and Framework will Be Ready by 2026

The government aims to implement the new regulatory framework for online casinos in New Zealand by 2026.

Minister Brooke van Velden’s system for online casinos, features limited licenses available for a three-year period. Operators must meet specific standards before offering services to New Zealanders, ensuring accountability and creating a fair and equitable market that balances profitability with customer protection.

In addition, Velden emphasizes that the licensing process is not made to increase the percentage of New Zealanders engaging in gambling. She also highlighted key player protection features, such as the requirement for gamblers to be at least 18 years old and only engage in casino games, with sports betting, lotteries, and sponsorships remaining prohibited.

Licenses are contingent upon compliance with regulatory standards, and the system is anticipated to be operational by 2026. However, the government has not disclosed any specifics about a potential tax on offshore gambling.

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