New Zealand government plans to regulate online casinos by 2026
The New Zealand government intends to start regulating online casinos by 2026, with plans to issue a limited number of licences.
According to Jarrod True, a gambling attorney at True Legal, the government has earmarked just over $300 million in annual revenue from online gambling regulation. “Online gambling has gained significant popularity in New Zealand, and we witnessed substantial industry growth during the Covid-19 pandemic when physical venues were closed.
Since then, interest in this segment of the gambling market has continued to increase,” True noted. Meanwhile, existing monopolies such as Tab NZ and Lotto NZ estimate that spending in the ongoing grey market is nearing $900 million. Currently, Tab NZ is the sole online betting operator in the country, operating under a partnership with Entain.
11 August 2024, 09:11
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