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New Zealand Wants Cut From Offshore betting Sites

Friday April 15,2016 : NEW ZEALAND RACING WANTS A CUT FROM OFFSHORE BETTING AGENCIES
 
Changes to the Racing Act proposed by New Zealand government's Racing Minister.
 
Media reports from New Zealand indicate that the government, urged on by the  New Zealand Racing Board, is considering legislation that would enable the industry to get a cut of bets placed by New Zealanders with overseas gambling companies.
 
Current legislation empowers the New Zealand Racing Board (NZRB) as the only New Zealand-based provider of racing and sports betting through the government-mandated Totalisator Agency Board (TAB), and the NZRB distributes the profits back to domestic racing and sports.
 
On Friday NZ's racing minister, Nathan Guy, released proposed changes to the Racing Act designed to ensure returns from betting continue to support New Zealand racing and sport organisations.
 
"A working group has found that a growing number of New Zealanders are gambling through offshore betting agencies, which raises a number of issues," Guy said in a statement.
 
"In 2015, about 40,000 New Zealanders turned over NZ$ 518 million (US$ 356.54 million) offshore with NZ$ 58 million (US$ 39.92 million) in losses -- this represents potential lost revenue of up to NZ$ 45 million (US$ 30.97 million) for local racing and sports organisations."
 
The TAB also ensured proceeds from gambling supported local sporting and racing activities and that punters operated within a regulatory framework that minimised gambling harm, the minister pointed out.
 
"Neither of these things occurs when people bet with offshore providers," said Guy, adding that the government's proposals were intended to make the TAB more competitive and help ensure offshore providers paid their fair share of support.
 
The proposals include a consumption fee for offshore gambling operators accepting bets from New Zealand and a "use of data" fee for offshore gambling operators using New Zealand race and sport data.
 
"These proposals are not designed to get more people gambling - it's about attracting New Zealand money currently gambled overseas back within our framework. This will support local racing and sports and better mitigate gambling harm," Guy said.
 
"The New Zealand racing industry is a major contributor to the economy. It generates NZ$ 1.6 billion (US$1.1 billion) in gross domestic product and provides for 17,000 full-time jobs."

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Gambling News :

PokerStars.CZ has launched in the Czech Republic - PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republicís new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.

Luckia Games in Partnership with NYX Gaming Group - NYX will provide Luckia with its open gaming system, NYX OGS, and open platform system, NYX OPS, to support the growth of its established Spanish operation.

Sunbets to Sponsor Sutton United - Online betting operator Sun Bets has inked a one-off sponsorship deal with English association football club Sutton United for its upcoming televised clash against Arsenal FC in the FA Cup fifth round tie.

Time is Money Slot Launches - Set to a catchy tune, Time is Money offers a free spins bonus where all wins are multiplied by up to x12 by a random multiplier, selected from the time traveling clock.

ArenaCube Signs 3 New Deals - Under their strategic partnership, ArenaCube and Kiron will develop and launch a new version of Arena Challenge in 2017. The new version of the game will carry Kironís virtual content.

First Woman to Win a WPT Playground Championship - Besting a field of 380, in the C$3,500 buy-in event, Zajmovic beat Jean-Francois Bouchard in heads up play, pocketed the C$261,000 first prize and a seat in the season ending WPT Tournament of Champions.

NHL Odds: Oilers-Blackhawks at the United Cente - Fans at the United Center will be treated to a potential Western Conference playoff preview this Saturday when the upstart Edmonton Oilers visit the Chicago Blackhawks. The puck drops at 7 PM ET on WGN.

2017 Partypoker.net WPT Playground main event Results - Although she entered the heads up against Jean-Francois Bouchard with a chip deficit, Zajmovic was able to get herself back in the game with some skillful and disciplined playing, eventually overtaking the leader and finally leveraging her chip advantage into a decisive win.

IGT In Deal With Norsk Tipping - International Game Technology has announced a new contract signing which will see it providing interactive casino and Instant Win game libraries and custom games through a remote game server to Norwegian gambling group Norsk Tipping.

ZYNGA POKER ENJOYS IMPRESSIVE GROWTH IN 2016 - By re-focusing on the mobile environment and poker, social gaming giant generates revenue of $741 million - without offering real money games!

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