The New Zealand Parliament has approved a bill to legalize online casinos
"At present, residents have access to thousands of overseas gambling platforms. However, this market is completely unregulated, lacking any requirements for harm minimization or player protection standards," stated Interior Minister Brooke van Velden. She emphasized that the primary goal of the new legislation is to make the iGaming sector safer and to require companies to contribute to the national budget.
The bill proposes the issuance of up to 15 licenses for online gambling operations. Each license will be auctioned off, and applicants will need to demonstrate compliance with strict criteria. Requirements include having a harm reduction strategy, a transparent compliance history, and appropriate age restrictions.
Oversight of the new system will fall under the Department of Internal Affairs, with all costs expected to be covered by licensing fees. Operators who violate the rules could face fines of up to NZD 5 million (approximately USD 3 million).
"The most important aspect of the bill is the protection of players through the implementation of comprehensive safety standards for all operators," the minister emphasized. The next step will involve the parliamentary committee reviewing the document, after which the public will have the opportunity to submit proposals and comments.
It is worth noting that the legalization of online casinos could generate between NZD 500 million and NZD 900 million for New Zealand.
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