The Cook Islands is a small island country in the South Pacific Ocean that has a lot of beautiful sceneries and cultural background. However, it also has a less well-known but equally interesting aspect: Regarding the gambling territory and focusing on Cook Islands Bookmakers as well as Cook Islands sports betting. The following article explore the history, the laws, the regulatory environment and the current situation of sports betting and bookmaking in the Cook Islands.
Up To £100
Terms Apply
Up to £122
Terms Apply
Up To £130+ £5 Free Bets
Terms Apply
Bet £30 Get £30
Terms Apply
Up To £120+ £30 Free Bets
Terms Apply
Up To £120
Terms Apply
Up To £10015% Free Bets
Terms Apply
Up To £100
Terms Apply
Up To £1000 + £10 Free Bets
Terms Apply
Up To £100
Terms Apply
Up To £150+ Recharge £150 Free Bets
Terms Apply
Bet £10 Get £10
Terms Apply
Up To £100
Terms Apply
Bet £10 Get £10
Terms Apply
Up To £100
Terms Apply
Up To £100
Terms Apply
Up To £150
Terms Apply
Bet £10 Get £50
Terms Apply
Up To £100
Terms Apply
Up To £100
Terms Apply
Up To £50
Terms Apply
Up To £50
Terms Apply
Up To £50
Terms Apply
Table of Contents
Summary of Key Events
Overview of Cook Islands Gambling Law
Cook Islands’ gambling laws have developed over the years with the early focus being on the regulation of traditional forms of gaming and extending to cover the contemporary online betting.
Key Historical Milestones:
1967: The Gaming Act was passed into law, this act was mainly centered on lotteries.
- 1980s: The government started granting licenses for online gambling making it one of the first countries to authorize online gambling.
- 2000: The Cook Islands had a potential of being blacklisted by the OECD concerning matters of money laundering and tax evasion.
- 2007: The Gaming Act was reviewed in order to accommodate for the availability of casinos and other related forms of gambling.
Regulatory Agencies and Oversight
Several authorities regulate the gambling business in the Cook Islands to abide by the legal measures and encourage safe gambling practices.
Main Regulatory Agencies:
- Gaming and Lotteries Commission: This body is in charge of the licensing of gambling as well as the regulation of gambling activities.
- Financial Supervisory Commission: In charge of financial transactions surveillance against money laundering and other vices.
Prohibited and Allowed Bets
The laws of the Cook Islands have also set some rules on the kind of bets that are to be placed and those that are not allowed to be placed in order to protect the players in the betting industry.
Allowed Bets:
- Sports Betting: Bets on different sporting activities that are happening within the country or any other country.
- Casino Games: All kinds of casino games that are available online and those that are available in physical casinos, such as the slots and table games.
- Lotteries: Both types of lotteries are allowed whether they are the conventional ones or the ones that are played online.
Prohibited Bets:
- Underage Betting: It is strictly forbidden for the purpose of protecting the minors.
- Unauthorized Online Casinos: Gambling activities can only be provided by the holders of licenses.
Cook Islands Bookmakers Licenses and Fees
Gambling license in the Cook Islands can be obtained only after going through several steps of the application and paying certain fees.
License Types and Requirements:
- Online Casino License: It needs a capital of $1,000,000 with a fee of 5% on the profit.
- Sports Betting License: The same capital requirements and the share of profits as in the case of online casinos.
- Gaming House License: Compulsory for all the establishments that are involved in the provision of gambling services.
Gambling Taxes
The Cook Islands government has stepped up on the taxation of gambling to acquire revenue to support the public service and development projects.
Tax Breakdown:
- Online Casino Tax: Five percent of the profits made from the licensed online casinos.
- Sports Betting Tax: Also 5% of profits, thus the government also gets to share in this emerging business.
- General Gambling Tax: There may be other taxes that a gambling business may be subjected to depending on the type and size of the operation.
Betting on Sports in the Cook Islands
Sports betting is a widely accepted form of entertainment in the Cook Islands and numerous people engage in the practice to place their bets on different sports.
Key Features of Sports Betting:
- Diverse Betting Options: Rugby, cricket, international football and tennis are just but some of the sports that the bettors can place their bets on.
- Technological Integration: The current online sports betting sites have live betting, mobile app, and real-time notifications.
- Regulatory Compliance: All the licensed sports betting operators must follow certain guidelines to ensure that the games offered are not rigged and are fair.
Sporting Event Glory Milestones:
- 1991: Cook Islands Rugby Union team is victorious in its first international game.
- 2000: Thus, the Cook Islands swimmer Erika Fairweather gets a bronze medal in 200m freestyle at the Sydney Olympics.
- 2007: Changes in the Gaming Act encompass provisions related to the sport betting.
- 2014: Athlete Uraia Niumataiwalu gets a bronze medal in the 200m event in the Commonwealth Games.
- 2019: First international sports betting conference is held in the Cook Islands.
Conclusion
Thus, the mentioned data indicates that the Cook Islands have a rich gambling environment with both traditional and advanced aspects regulated by numerous laws and statutes. If you are in search of more information regarding the Cook Islands bookmakers or Cook Islands sports betting, this article captures all the information in detail to ensure that all the activities are legal.
FAQ: Cook Islands Bookmakers
Related content
Oceania Bookmakers
