Government finally addressing all our gambling business going overseas

phone-2-web

The government is seeking public submissions on changes to the Racing Act which could see it impose fees on foreign gambling operators accepting bets from New Zealand, as well as expanding its own product range to compete better with online platforms.

Racing Minister Nathan Guy wants submissions on a series of proposals generated from a report by the Offshore Racing & Sports Betting working group for the New Zealand Racing Board (NZRB), which was publicly released in November. Submissions close on May 27.

The working group estimated $58 million of gross betting profit was lost offshore in 2015 with the number of New Zealanders betting online with the TAB’s foreign competitors doubling since 2010 to 40,000.

The TAB has fought back with the launch of a mobile app, which has become its fastest growing channel, but the report said the betting agency needs to do more to compete, including the introduction of better technology.

If we’re going to be in the business of betting, we have been severely behind for almost 15 years now.  And the opportunity to make taxes off dumb people has been ignored too long.

The five proposals include two which target those online competitors – a consumption fee for offshore gambling operators accepting bets from New Zealand based on turnover, and a ‘use of data’ fee for offshore gambling operators who use New Zealand racing and sports information.

That consumption fee could generate $10 million in revenue if applied at a rate of 2 per cent on $518 million, which is the estimated turnover for offshore betting on New Zealand racing and sport in 2015.

The proposals also include ending the current prohibition on in-race betting, making the rules consistent with current live betting rules on sporting events; allowing bets on sports that don’t have a national body such as mixed martial arts; and permitting gambling on novelty events, “such as the outcomes of reality TV shows or the sex of the royal baby.”

Cue the wowsers and the Problem Gambling Foundation.

But here’s the thing:  the gambling is already happening.  The money is all going off-shore.

 

– Newshub

 


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  • Abjv

    Exactly how are they going to make a foreign bookie recognise that a particular bet has come from a credit card whose bill payer lives in NZ, and exactly how are they going to make said bookie cough up a load of tax to NZ? Say, a bookie domiciled in Antigua?

    • Mark

      They aren’t gamblers have been getting around such restrictions since well before the internet.

  • The Government needs to butt out.
    On the one hand they are investing billions on UFB and technology for better access to the global economy and yet then when people that have been so remote and isolated for so long use it to get better deals they reduce the limits on excise taxes and now want to ban or tax sites that offer better odds than the ones available in NZ.

    How very commie of them.

    • Mine it,Drill it,Sell it.

      This country will not sort out it’s gaming laws and move into the 21st Century until it removes all gaming laws away from Internal Affairs and do away with Racing Minister and have a new department with a Minister of Gaming and Wagering.

      This department would deal with all forms of gaming in NZ and remove the current situation that allows for some sections of the industry getting the current Minister’s ear while others get sidelined by cardigan wearing Green party members masquerading as public servants.

      • Mark

        No they need to butt out completely,who I spend my already taxed income with should be my business & done at my risk.Govt’s have cost me enough already & I am tired of having to factor them into my gambling risk.

        • Mine it,Drill it,Sell it.

          Those parasites at the Problem Gambling Foundation would love to get their grubby hands on you for daring to gamble at your risk.

          • Mark

            I almost laid a complaint against them for their predatory misleading radio adverts offering to tell you how to play the pokies better.
            Lady on the phone wouldn’t meet me down at the casino to show me LOL.
            Parasites indeed.

  • cows4me

    The problem with gambling is like many other so called services or products that the people have had to put up with over the years. Generally the public of this country have been treated like cash cows as there was little competition or because of government regulation. We’ve been paying through the nose for years, TAB, Sky, Internet, Communications etc. Many of these companies have been sitting on their arse watching the loot roll in, oh dear the world has changed.

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