Tom Waterhouse of Waterhouse VC believes New Zealand could become the blueprint provided it gets the regulatory balance right. The country’s gambling market has met a similar force. A 12% Offshore Gambling Duty has applied since July 2024 to offshore operators serving New Zealand residents, excluding sports and racing betting. The United Nations Office on Drugs and Crime (UNODC) puts the global illegal betting market at up to US$1.7 trillion wagered annually. The government responded by lifting the offshore gambling duty from 12% to 16% from January 2027, with the additional 4% ring-fenced for community returns.

Source: Stuff February 19, 2026 14:06 UTC