Guest Post

Everything You Should Know About Gambling Regulations In Oceania

Author: Coinpedia

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Crypto Journalist and Editor of guest articles in CoinPedia. I am also handling Outreach & Partnerships Manager. Contact me: [email protected]

    The legislative framework in Australia, New Zealand, and Oceania is quite strict. In general gambling services are considered illegal until the casino is not regulated by accepted authorities. So, if you want to start your gambling business in Oceania, you can not provide it legally without being accepted by local authorities. Licenses from offshore zones are not allowed. 

    Even though regulations are quite tight, the gambling industry in Oceania is popular. According to the latest statistics, more than 7 million people are active gamers in Oceania. Per information there are about 20 local casinos in Australia, where in New Zealand you can find only 6. Mostly in Oceania, land-based casinos on cruise ships or international online casino platforms are commonly used.

    When it comes to sports betting, the popularity is less. About half a million people are actively involved in sports betting and the interesting fact is that, even though quite a few do sports betting, they spend a lot on it. Annually, more than 20 million USD is spent on online sports betting from Oceania countries. 

    In Oceania, the main dominants creating gambling legislative frameworks are Australia and New Zealand. Accordingly, islands, are accepted regulations from these countries. Down below we will review all the regulations you have to consider, while you are involved in the gambling industry in Oceania.

    Gambling Regulations In New Zealand

    New Zealand is quite strict when it comes to gambling industry legislation. If the casino, no matter if it is land-based or online, does not accept the requirements of the Gambling Act 2003 and is not licensed by local authorities, it is considered illegal. 

    In New Zealand prize amounts as well as promotional suggestions are strictly controlled. In the country, casinos are categorized into 4 types. The type is conducted by the New Zealand Lottery Commission. It sets maximum prizes and turnover for each casino.

    For example, first-class casinos can’t have more than 500 USD prize, whereas for class 2, the maximum prices are from 500 USD to 5 000 USD. The turnover of the gambling must not exceed 25 000 USD. Casinos under this class are not required to have a local license. Bitcoin betting New Zealand from the third and fourth-class casinos allows to exceed prizes over 5 000 USD but they are also required to be licensed. 

    Similar to other parts of Oceania, New Zealand does not accept the promotion of gambling. Under the Gambling Act 2003, it is prohibited to promote online gambling on social media. Less slightly regulated when it comes to lottery games. Here, according to the Lotteries Commission, you can get permission to promote sales. 

    If the gambling company, no matter its class, will not accept a single requirement or promotes its business, it will be fined. Penalties are from 50 000 USD. For individuals, it is more than 10 000 USD. 

    Gambling Regulations In Australia

    In Australia gambling is very popular and at the same time is a major public policy issue. 80% of the population admit that they are actively gaming on different online casino platforms. As this entertainment sector is incredibly popular, the regulations are not very strict for casinos. The central regulations about safety and fairness are common but some details are depending on the state. There are 8 different states in Australia. So if you are going to start your casino business in several states of AU, you have to accept different legislation. Mostly these regulations are different with the required commissions and accepted licensing authorities. 

    The main law that regulates the gambling industry is the Interactive Gambling Act 2001. The promotion of games is strictly regulated by the Australian Communications and Media Authority. Local online casinos should connect with ACMA if they want to get internet gaming licenses for international services, outside the country. 

    If a casino or specific individual decides to promote online gambling, it will be fined. The average penalty for the casino is about 110 000 USD whereas for single individuals, it is 11 000 USD. It must be considered that any type of advertisement is prohibited no matter if it is posted on social media or used by broadcasters or commentators. 

    By the same authority, online poker is completely prohibited and you can only play it in licensed land-based casinos as a table game. Other types of games, such as bingo or lotteries, are not prohibited in online casinos and are regulated by the relevant state. 

    Sports betting is more lightly regulated by ASMA and state governments. Whether it be classic sport, horse, race, or fantasy betting, it is not prohibited in online space. Most of the bookmakers who can suggest these betting services are from the Northern Territory. Betting in Australia is regulated by NTRC which stands for Northern Territory Racing Commission. 

    The main authorities which are responsible for safety and reporting requirements for gambling businesses are the Australian Transaction Reports and Analysis Center with the collaboration of the Anti-Money Laundering center. Every gambling business is required to have active reporting according to the ATRAC requirements.

    Disclaimer: This is a guest post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.

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    Crypto Journalist and Editor of guest articles in CoinPedia. I am also handling Outreach & Partnerships Manager. Contact me: [email protected]

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