New Zealand Outlaws Credit Cards for Gambling
New Zealand has banned credit cards for gambling to protect consumers as it prepares to launch a regulated online gambling industry.Summary
New Zealand is prohibiting the use of credit cards for both online and potentially offline gambling, aligning with a global trend to curb problematic gambling behavior. This measure aims to prevent individuals from using credit to fund gambling activities, including indirect methods like depositing through e-wallets topped up with credit card funds. The ban is being implemented alongside the launch of a regulated online gambling market expected to include up to 15 operators by the end of next year. The government anticipates generating NZD 44 million ($25 million) from license sales and further revenue through taxation. Internal Affairs Minister Brooke van Velden supports the ban, emphasizing consumer protection and responsible gambling. The Online Casino Bill has passed through the Governance and Administration Committee, and the government has increased the tax rate for online gambling operators to 16% of revenue. Despite the relatively low tax rate, there are concerns that onshore operators may struggle to compete with the illegal market.
(Source：Gamblingnews)