New Zealand Racing Minister Plans Crackdown On Offshore Betting
The issue of illegal offshore betting operators pops up in just about every country where gambling is regulated. Whether it be the UK or the U.S. the argument of those supporting legalization and regulation of gambling is largely based on the premise that illegal operators will gain all the benefits in the absence of state regulated bodies.
New Zealand’s racing minister Nathan Guy has announced this week that he intends to take action to combat the negative effects of illegal overseas based bookmakers who are taking millions of dollars in profits from illegal operations. Speaking at the New Zealand Racing Board’s annual general meeting Guy said that it is his number one priority for the coming term.
He went on to say,” I want to be clear: it is a problem, it is complex, but I believe we should be able to make changes, and I am committed to making the necessary changes. I’ve seen a variety of estimates for how much is bet overseas every year. The New Zealand Racing Board estimates that it could be up to $NZ300 million.”
Guy went on to point out that illegal overseas online betting providers were depriving the local industry and sports the funding they need while also exposing punters to an unregulated system. Guy is looking to Australia who are also in the process of cracking down on illegal offshore betting operators. Guy stated that the Government wants to ensure the funds that are available for distribution to the racing sector are maximized. He intends to do by setting up an Offshore Betting Working Group which will come up with recommendations to fight the negative effects of offshore betting.