NZ Called On To Update Online Gambling PolicyTia Winter | 9 October 2019
Markets like those that Denmark, Spain, Sweden, and the United Kingdom have adopted were cited as evidence of successful licensing models. The alliance additionally recommended that administration steer as far away as possible from an onerous tax framework that could put potential entrants into the market off.
Fees Should Be Also Be Reviewed
The IBIA went on to explain that it is also vital the permit fees are proportionate, and 100% based on the administrative outlay of properly regulating the market. As countries employing the kinds of systems quoted as examples have done, these payments should not be viewed as a way to raise profit, since this approach will simply deter operators from applying for licenses.
Gross Gambling Revenue Tax is Better
The IBIA pointed out that taxation systems that are grounded on gross gaming revenue have been more effective than those based on turnover. They went on to recommend a taxation rate of between 15% and 20% of the gross gambling revenue being imposed.
Variety is the Spice of Life
The Alliance added that it expects to see a diverse array of lawful online sports betting products and services being made available, both in terms of types of wagers and the events on which these could be placed. It referred to its integrity reports, which have revealed that 90% of alerts arise from stakes placed on mainstream markets like final results rather than negative ones like yellow cards.
Above and beyond a satisfactory fiscal and regulatory structure being put into place for sports betting, it is also essential in terms of market viability that licensed operators can provide a wide range of wagering products, says the IBIA. They explained that restrictions here would simply lead to consumers seeking out the services they are interested in from other channels, unregulated or not.
The UK Gambling Commission was used as the ideal since it covers one of the biggest and most fully developed betting markets worldwide. The Commission controls and permits all kinds of wagering on all kinds of sports without any restrictions. It also manages to do so whilst retaining close market oversight and working alongside the operators it has licensed, endorsing a policy approach which is based on evidence.