🎉 New Zealand🇳🇿: market launch moves closer as licensing process begins

🎉 New Zealand🇳🇿: market launch moves closer as licensing process begins

The country's regulatory framework was previously outlined here. Applications to participate in the licensing tender may now be submitted until August 14, with the market expected to launch in December.

⚡️ Applications must be submitted through the government's electronic procurement system. Applicants are required to pay an application fee of USD 11,090. The original proposal set the fee at USD 19,000, but the amount was subsequently reduced.

⚡️ The auction for 15 licenses will take place in September. Major gambling companies that have already expressed interest include Bet365, evoke, Entain, SkyCity, Spin City, SpinBet, and Super Group. Under the rules, each gambling brand requires its own license, and each operator may hold no more than three brands.

⚡️ Context: New Zealand previously prohibited domestic companies from offering online casino services. However, there was no direct prohibition on offshore operators, allowing that segment of the market to expand significantly.

⚡️ Key provision: the new regulatory framework expressly prohibits payments made with credit cards, including the use of third-party credit cards.

#news #Oceania #gambling

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