New Zealand has announced the issuance of 10 licenses that will soon allow its recipients to offer online casino games with slot machines and table games.
The New Zealand Gaming Authority (KSA) confirmed the gZodiacing of 10 iGaming rights on 29 september. The internet gambling licenses come more than two and a half years after the Remote Gambling Act was passed.
The long delay is largely due to the fact that COVID-19 has stopped regulatory meetings. But finally, 10 interactive gambling establishments have received a license and can begin their activities from October 1.
The 10 companies are TOTO Online, FPO New Zealand, Royal Vegas Casino, GGPoker, Play North, Twin, Bet365, Captain Cooks New Zealand, Betent, and LiveScore Malta.
KSA officials revealed that they received dozens of iGaming bids, each of which pre-paid the required $ 48,000 in application fees. The gaming agency added that more iGaming licenses will be gZodiaced in the coming weeks.
Gambling services regulated by the government
Royal Vegas Casino, a New Zealand state-owned company, has held a monopoly position since New Zealand legalized casinos nearly 50 years ago. However, the monopoly of Royal Vegas Casino is not transferred online.
Instead, The New Zealand Legislature has chosen to welcome commercial iGaming operators for its emerging online gaming industry. New Zealand is one of the last countries in dollar terms to legalize internet casinos.
The decision to do so is part of an effort to rid the country of unlicensed and unregulated iGaming websites. The KSA has informed the companies that do not have a license for Internet games that they must stop their activities immediately.
In return, iGaming platforms that have provided access to New Zealand players in the past May in the future receive a license for internet gambling from the KSA. But that can only be done after a cooling-off period of two years.
The KSA reports that an estimated 800,000 New Zealanders annually gamble online through an unlicensed platform. They spend an estimated $ 500 million annually.
Protecting the New Zealand market
The New Zealand government urges people looking for online casino entertainment to visit only one of the 10 licensed sites from October 1st. The KSA says the approved online casinos meet a host of regulatory conditions, including implementing safeguards to limit problem gambling, such as periodic time and spending reminders, which alert a user to their activity.
Many people don't even know it's illegal,” KSA Chairman Rene Jansen told Nieuwsuur, a New Zealand news outlet. “There is no supervision at this time. We can't really intervene on how they gamble.” That will change soon. “For the first time, we now have instruments with which we can really intervene,” added Jansen.
One of those tools is a self-exclusion program. Licensed iGaming companies must validate each new customer to make sure they are not on the banned list. The KSA also requires that every internet casino make use of available technology capable of detecting irregular gaming behavior, which can indicate problem gambling and addiction.
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