2024-11-15 21:37:42
Sydney news, in an effort to control the rapidly expanding industry, New Zealand proposed on November 13 to restrict the number of licenses granted to operators of online casinos, mandate that they establish an age verification system, and outlaw ads directed towards minors. According to Internal Affairs Minister Brooke van Velden, the new regulatory system is anticipated to be implemented starting in early 2026 and would impose fines of up to NZ$5 million (S$4 million) on offenders. Ms. Van Velden said in a statement, "My goal is not to expand the amount of gambling that is happening online, but to make it possible for New Zealanders who want to play online gambling to do so in a safer manner than they do now. Consumer protection laws do not apply because online betting is not currently regulated in New Zealand. Due to the convenience and accessibility of online platforms and the increasing use of smartphones, more New Zealand customers are opting to bet online, according to research firm Statista. There are currently thousands of offshore gaming websites where New Zealanders can and do wager. My goal is to direct consumers to up to 15 licensed operators by implementing a regulatory framework. According to the report, revenue from these platforms might increase by almost 6% annually between 2024 and 2029. In July, the government of New Zealand announced that it would license online casino, mandate that operators only offer online casino games and not lottery or sports betting products, and set a minimum player age of 18. According to Ms. Van Velden, more regulations will be created based on the current gaming law to help finalize standards for consumer protection and advertising. In 2025, the government hopes to present the bill to Parliament.