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TAB NZ just became the country’s only legal online racing and sports betting operator. The government passed new laws that kicked out every other company taking bets from New Zealand players.
These changes hit on June 28. They’re part of updates to the Racing Industry Act 2020.
All offshore gambling companies that used to serve New Zealand customers got notices to stop immediately. No exceptions.
The Department of Internal Affairs runs gambling regulation in New Zealand. They’re now watching to make sure everyone follows the new rules.
The government wants all betting profits to stay in New Zealand. Before this law, money was flowing to overseas operators instead of helping local racing and sports.
This marks the biggest change to New Zealand’s betting laws in over 20 years. Officials say it’ll boost financial returns for the country’s racing industry.
But there’s more than money involved. The law also creates new powers to reduce gambling harm if needed.
Consumer protection played a big role, too. Overseas operators often lack proper safeguards for problem gamblers.
It’s now illegal for anyone except TAB NZ to promote or take racing and sports bets from people in New Zealand. That’s a complete prohibition.
The ban covers racing and sports betting specifically. Online casino gambling isn’t affected as of yet.
Casino games will get separate regulation later. That’ll include licenses for approved operators.
Existing operators had to withdraw immediately when the law took effect. No grace period.
Vicki Scott leads gambling regulation at the Department of Internal Affairs. She expects “responsible gambling operators will respect and comply with this law change.”
Scott says companies should close New Zealand accounts fast. They also need to pay outstanding money to customers right away.
But she’s warning New Zealand gamblers too. “Be aware of the risks of placing sports or racing bets with providers other than the TAB and betcha brands.”
Any overseas company still offering these bets is breaking New Zealand law.
Scott points out these illegal operators might be “based in jurisdictions with minimal consumer safeguards.” They could lack proper gambling harm measures.
Worse yet, they “may not return unspent credits or even pay out on large wins.”
The regulator will be monitoring compliance actively. They’ve got enforcement powers to back up the new prohibition.
This puts New Zealand in a unique position globally. Most countries either allow multiple operators or ban online betting entirely.
Last week, the Department of Internal Affairs invited casino gambling operators to formally register and express their interest in joining a new licensing regime.
