The NZ Online Gambling market is growing tremendously since the introduction of gambling law, the Gambling Act in 2003. At that time, New Zealand players relied heavily on offshore gambling websites so they can enjoy online gambling. It all seems to be changing, with the introduction of NZ online gambling websites and casinos to cater to the needs of New Zealanders.
Minister of Internal Affairs’ Report Regarding Online Betting
Tracy Martin, the Minister for Internal Affairs, issued a report in August of 2019. In that report, she stated that the NZ users are connecting online using different methods that are somehow old fashioned. These options are not on the level of development that can support a variety of NZ Online Gambling games. Therefore the New Zealand government has started a conference to weigh the support that is accessible to everyone to regulate new iGaming methods.
Since that report, the online gaming market went through numerous changes. These changes led to the increased demand for online gambling services in New Zealand. That demand eventually led to iGaming becoming an attractive thought due to its automation and convenience, especially for the youth of the country. All of this led the government to decide to expand its iGaming market so it can accommodate and safeguard its players from harmful gambling and untrustworthy websites.
How will the NZ Online Gambling Expansion Happen
There are numerous ways that the NZ government is considering. For one, the authorities might increase the variety of offshore companies that can work legally in the country. For that case, the government will create a licensing model for companies that want to offer NZ online gambling services. They can use that model for local as well as foreign iGaming companies.
The Positive Results of an Online Gambling Expansion
The development and expansion of the NZ online gambling market will have a positive effect on the industry and its communities. Kiwis will be able to place bets at safe, licensed, and regulated websites. So when the industry has more to offer, Kiwis will put more real money, and the industry will keep growing. Also, when more service providers enter the market, competitions will refine the overall experience of players. That is why the government is encouraging the TAB and NZ Lotto to offer services online, and expand their portfolio of services.
That will also lead to great improvements in terms of data safety and security. So with the expansion of the NZ online gambling industry, more investors will be a part of the market. It would create a safer and a better framework for the players, through a system that cares and protects the interest of the players.