Betting law: government makes correction in 3 points of the text
After disclosing the draft of the decree of its new gambling law, New Zealand has opened a second public consultation on the issue.
They were at least 2,644 suggestions in just 2 weeks . A number considered satisfactory by the government.
Overall, the Ministry of Economy understands that its Model Law has been fairly accepted by the market.
Still, after the last consultation, there is consensus in the Ministry that it is necessary to reformulate the writing of 3 points in the decree:
- Quarantine
- Taxation
- Betting possibilities
It 3 points they would not have been clear in the wording of the text. This leaves room for interpretation and mistrust on the part of the market.
At least that's what Alexandre Manoel Angelo da Silva, National Secretary for evaluation of public policies, planning, energy and lottery of the Ministry of Economy, says.
Changes Will Be Punctual
It is normal for the first versions of the text to be dubious at some points. After all, New Zealand is still in the study and analysis phase of the market.
According to Secretary Alexandre Manoel,
“So far, it seems to us that the proposed model has been well accepted. But it is necessary to give greater clarity in the wording in several articles.”
Some of these articles directly affect the performance of bookmakers in the country.
For this reason it is very important that the Ministry of Economy clarify its position on these points as soon as possible.
Quarantine
Specialists in Economy and in Right they defend existence of quarantine in the country in relation to some betting operators.
This would mean a kind of punishment to those houses that today operate in the New Zealand market without the legalization of sports betting.
The quarantine would be a period in which companies would be unable to legally operate in New Zealand.
The initial text of the draft had mentioned the absence of quarantine. The problem was Article 30, which contradicted this statement.
According to him,
“ any form of advertising or dissemination of the fixed-odds betting lottery modality by any person, natural or legal, is prohibited, except those authorized by the operator ”.
Finally, the conclusion was reached that the text is indeed dubious.
According to some interpretations, all companies that have ever advertised betting sites in the country should be punished.
However, this only takes effect from mid-2020. Time when the law will probably be implemented.
Taxation
Taxation is another point that has caused controversy.
But the Secretary is clear: taxation will be on top of the company's turnover, not on the premium to be paid.
This model seems to be similar to that practiced in other countries, such as New Zealand . It remains to be seen whether the tax amounts will be lower .
In addition, Silva took the opportunity to clarify doubts about the taxes that gamblers will have to pay .
The government has received requests that the sports bettor have a different taxation than the federal lottery bettor.
“ There's no way. There will be the same Taxation of Income Tax. If the prize is above the limit established by law there will be an incidence of taxation .”
That limit is $ 1,903.98.
Betting possibilities
New Zealand gamblers who today play on sites hosted overseas worry about their betting possibilities .
In the background, doubts focus on the fact that the decree does not specify whether it will be possible to place bets during sporting events .
According to Secretary Alexandre Manoel, bets can be placed before and during matches .
Prescribed betting and ilDirectionsting Sites
A major concern of the government is the prescribed bets . They are very common in New Zealand.
These are those bets that have won, but whose prize has not been claimed.
In 2018 it is estimated that the collection with this type of BET has been $ 300 million .
The problem is that this money had no destination. According to Alexandre Manoel, it is necessary to change the laws in order to change this.
The desire of the government is to allocate all the amount obtained with prescribed bets to education.
Another point that has been discussed for months in the government is the criminalization of illegal gambling .
One concern is that under the new law, some illegal gambling sites will emerge or remain in existence.
In addition, there are fears of manipulation of results. Something already seen in football in countries like Italy and in New Zealand itself.
The current project of Betting law providê imprisonment of up to 5 years those operating in the country without a license.
Anyone who is a participant in outcome manipulation can get a penalty of up to 8 years of imprisonment .
In both crimes there is a fine to be paid, not yet defined.
Will New Zealand be 4th market in the world?
Speculation about the future of New Zealand after the legalization of sports betting only increases.
Experts believe, for example, that the country will be the 4th largest betting market on the planet .
This is not for nothing. According to research done by the Paraná Institute, the number of New Zealand parliamentarians favorable to the Games is 52,1% .
By games, we mean online betting, Animal game, casinos and bingos.
With the enactment of Law 13.756/18 , betting companies gained permission to operate in New Zealand on two fronts:
- In advertising campaigns
- In sponsorship of private institutions
While waiting for the implementation of the law, today they advertise their services in the country and are already talking to New Zealand bettors.
The campaigns of marketing , much online as for channels like TV, they are strong. And these companies already sponsor several football clubs, such as:
- Atlético MG
- Bay
- Botafogo
- Corinthians
- Cruise
- Flemish
- Fluminense
- Fortress
- Holy
- São Paulo
- Basque
But Who Will Profit From The Bets?
The economic impact of legalized sports betting in the country can extend to several sectors.
The niche of hotel , of resorts and of luxury cruises , for example, is very excited.
The draft of the decree provides that these establishments can be legalized gaming spaces. Such as casinos or bingos.
And that's one type of tourism would attract a lot of foreign investment.
The government itself will have a good annual collection. At least that's what points to Fundação Getúlio Vargas , the FGV, in 2015 study .
The amount moved could reach $174.7 billion, with $58 billion in revenue!
And, of course, bookmakers operating in New Zealand will also have a share of the profits.
We do not know yet, however, what portion of your total turnover will remain in your possession.
How are the lotteries of the box?
A growing doubt among bettors and experts in the betting market is how the Caixa Lotteries look with the new law.
To understand this correctly, we need to understand how these lotteries currently work.
As is known, the lottery is the only form of betting allowed in New Zealand today. It is operated by Caixa Econômica Federal.
This is justified because a Lottery has a social purpose . Part of its collection is intended for works carried out by the government.
It is as if the government justifies the “moral damage” of betting by using the money obtained in improvements for the population.
So let's divide the amount collected by the lottery into 3 main destinations :
- Federal Government
- Caixa Econômica Federal
- Bettors ' Awards
We can understand that the Federal Government acts in partnership with the lottery. Therefore, it is in your interest that the lotteries Bill high.
This is why lotteries from Caixa have sought to increase their winnings. They even launched an online gambling website last year.
The problem is that the legalization of sports betting can harm the turnover of lotteries .
Mainly because the government will have other sources of revenue.
In addition, the trend is for bettors to migrate to sports betting online .
Today those who bet on the lottery and Timemania complain about their limitations.
One possible way out for lotteries is investing in sports betting . Something already signaled by the superintendent of lotteries of Caixa, Gilson Braga.
According to him, Caixa Econômica is waiting for the implementation of the new law. Then you can decide how to proceed.
This can minimize financial losses , but also increase collection . After all, lottery houses are practically all over the country.
Reliable Sites To Bet Online
- 700+ casino games & slots
- VIP program & regular promotions
- $1 minimum deposit
Payment methods
