In a move to support domestic online gambling operators, the New Zealand Racing Minister Nathan Guy recently announced that the New Zealand Government is to launch a new review of oversees online betting by New Zealanders who gamble foreign owned & operated gambling portals. For years, New Zealanders have been gambling at oversees online sports betting sites and at other similar real cash gambling websites and this deprives domestic operators of revenue.
Foreign operators who aim their business towards New Zealanders also avoid paying the government tax and sidestep the Totalisator Agency Board (TAB) which has the monopoly of the industry at home. “This means offshore organisations make money on New Zealand racing and sports without paying their fair share of tax, or making contributions back to the racing industry or sporting organisations that make the betting possible in the first place,” said the New Zealand Racing Minister.
TAB controls the monopoly over racing and sports betting under a system which requires the Racing Board to hand some of its returns into the professional racing sector, but this is undercut when punters gamble in foreign owned gambling portals which are licensed abroad. In response, a review will be carried out by a working group headed by former National MP Chris Tremain, and this will take a look at the effect that the current system is having on the country.
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