In an attempt to increase interest in an internet gambling industry, New Zealand Lotteries Commission is attempting to addressing online gambling competition by putting together a proposal to sell Instant Kiwi Tickets online. Online gambling in New Zealand is not regulated and therefore not in essence legal. But this does not stop other operators from punting for New Zealand online gambling business, and offering services to clients from this country. This proposal is in response to a growth in popularity of online gaming and gambling.
Just like many jurisdictions around the world are attempting to get online gaming regulations in place to suit their own needs, more and more countries are joining in the parade and re-evaluating their positions. The online gambling industry is no longer considered to be a niche, and countries such as the UK are leaps and bounds ahead of competitors, in terms of regulation, technology and revenue earning potential. It is understandable that an industry which generates billions of dollars annually should start to see governments banking on bagging their slice of the billion dollar pie.
The total prohibition being practiced by the USA is seen as being completely counterproductive as well as an expensive exercise, and Australia has also realized that prohibition does not work. Recent new regulatory jurisdictions have been added to the global list. This includes the Dominican Republic, Greece and South Africa – and very sensible they are too. While regulations have been changed and made more EU compliant in Italy, Demark and Spain.
The decision to allow the sale and promotion of Instant Kiwi tickets online is still under consideration, but the Lotteries Commission has realized that they will lose business to private competitors if they don’t play the game, and make these changes soon.Written by Neha A