International online casino sites grabbed the opportunity to exploit the high demand in the Oceanic country. Local online gambling operators also saw fast growth over the last two years.
The rise of online gaming in the country is in line with the growth of the industry worldwide. Online gambling became the new trend, as the number of young people with smartphones increased. Innovations in technology contributed to the global growth of the online gambling industry.
The growth of online casino in New Zealand is expected because of the growth of mobile gambling.
However, critics believe that the unprecedented growth of the online gambling industry harms the economy of the country, and it causes harm to the people. New Zealand’s promising online casino industry attracted the leading online gambling operators in the world in 2020.
New Zealand’s online casino industry
The New Zealand’s Gambling Commission’s census revealed that 80 per cent of New Zealanders gambled at some point of their lives. The report revealed that most of the gamblers placed their bets on both online and offline lottery games. It was also reported that the people spent more than NZD$2 billion on sportsbooks, live casinos, and overseas gambling platforms.
Since 2004, land-based gambling in the country dropped to 19 per cent. However, its lotto games and online casinos increased by more than 22 per cent in less than five years. It was also reported that people in their mid-30’s spent more hours on online casinos and spent more money on paying debts compared to the other ages.
Online gambling in the country will continue growing because of high demand. The industry is regulated by New Zealand’s Gambling Commission and the UK Gambling Commission. The regulating bodies passed laws on May 5, 2020 that allows New Zealanders to continue playing on online gambling platforms only as an everyday past-time activity.
Online gambling laws
TAB and Lotto NZ were the only legal online gambling operators in New Zealand. The Department of Internal Affairs, through the NZ Gambling Commission, imposed strict rules on legalizing local casino operators. The regulators have shut down many local casino operators without licenses.
Subscription to online gambling in New Zealand is based on age, and gamblers can join online games, such as poker, blackjack, roulette, baccarat, and slots, given that their age passed the requirements.
It is only legal to deposit and withdraw funds to online casinos in the country given that the site is hosted outside the country. The offshore operators can process payments in New Zealand dollars. The winnings from international online casino platforms are tax-free.
New Zealand regulates a high number of casino sites which provides limitless choices. Convenient payment methods in online casino attracted gamblers. Online casinos offer several payment options for the gamblers.
Gamblers could process financial transactions through PayPal and POli, and the winnings are non-taxable under the Income Tax Laws of New Zealand.
The online casino has intensified its security features to secure the personal and financial data of the gamblers.
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