The New Zealand Department of Internal Affairs, New Zealand’s government agency that is responsible for formulating rules and regulations for the country’s gambling industry, is planning to ban the use of credit cards for online gambling.
The reports of Department of Internal Affairs considering a ban on gambling on credit have emerged after the local casino operator SKYCITY Entertainment Group is planning to launch online gambling in the country.
At present, TAB and the state-run Lotto are the only ones authorized to offer online gambling products to the Kiwis.
Earlier this year, Skycity partnered with a Malta-based gambling operator to offer online gambling services in New Zealand. The gambling services would be provided by its Malta-based subsidiary company SkyCity Malta.
Experts and those familiar with the matter say that it is the potential launch of SkyCity’s online gambling operations in the country that has prompted the gambling watchdog to consider banning gambling with credit cards.
Earlier in July, Australian Bank Macquarie banned gambling with credit cards. It became the first major Australian Bank to do so. Following the bank’s decision to ban credit card usage for gambling it was expected that soon major financial institutions could introduce similar measures in New Zealand as well.