New Zealand Amended Gaming Act | iGaming insider

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racing car

New Zealand Amended Gaming Act

New Zealand Amended Gaming Act

The Government of New Zealand has completed amendments to gaming and added the racing law to the national gaming law. Based on the standpoint of minimizing gambling hazards, the New Zealand government develops the racing industry to collect fees for the use of racing products to ensure that offshore operators pay reasonable fees for local development. The competition system established by the new law not only ensures gambling, but also includes the revenue channels of local sports competitions and bettors are subject to the regulatory system.

racing car

The New Zealand government has completed a new amendment-adding the racing law to the national gaming law. Under the latest bill, the New Zealand government will tax offshore casinos and gaming operators.

The New Zealand government is expected to impose a 2% tax on the total revenue of foreign online gaming platforms. At the same time, when offshore gaming operators use local racing data to place bets, or when placing bets on qualified New Zealand racing drivers, the New Zealand government will charge 1% tax on offshore gaming operators.

National information on the racing industry has not yet been determined, but the government will develop the racing industry to collect fees for the use of racing products. Nathan Guy, Minister of Competition, commented: “For the TAB to face this offshore competition system, these changes will help create a higher level of competition, and It can ensure that offshore operators pay their reasonable share of fees to our community. The competition system ensures the revenue path of the gaming industry and even local sports competition activities, making the gaming industry the first, and the punters under the regulatory system can maximize Limit the harm of gambling to a minimum. “

The new amendment also prohibits betting on bookmaker betting (TAB) operations, but it can expand the current sports investment portfolio as a betting industry.

National legislators are drafting a complete gaming supervision system that is sufficient to control the betting industry.

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