Three Gambling Ways for NZ Government

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.

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#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:

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• 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.