In recent times, the online gambling industry has witnessed a spike in the number of players from New Zealand. This trend is across both international and domestic online casino sites operating in the country. Top casino sites across the world are expanding in New Zealand to extract the benefits of this new-found interest in online gambling.
Considering the sudden outburst of popularity in online gambling, the trend is a mystery in itself. The story behind this market trend is quite an interesting paradigm. Let’s delve into the details about the reasons why the online gambling industry is rising rapidly in New Zealand!
Casinos in New Zealand
Approximately 80% of all New Zealanders are involved in gambling of some form. Whether it is online gambling, lottery, sports betting- almost everyone has their picks. New Zealand’s gambling commission revealed this fact in 2020. Along with this, it was also revealed that the Kiwis spent over $2 billion on live casinos, sports betting, gambling portals, etc. in 2013. Every following year, this sum has increased.
Although offline gambling rates in New Zealand have boiled down to 19% since 2004, online casinos have continued the trend. Lotto and online gambling websites have enjoyed a 22% increase in traffic from NZ in less than five years. Millennials spend hours of their time and exorbitant sums of money to encash hefty wins and pay off their debts.
Online Gambling Laws in New Zealand
New Zealand has its own regulatory body for gambling. Apart from that, the UK Gambling Commission is responsible for regulating gambling in the country as well. On May 5th, 2020, both these bodies made the unified decision that the citizens of New Zealand will only be permitted to gamble as a source of rejuvenation or time-pass activity. According to this new law, only TAB and Lotto NZ are legally operational online casinos in the country.
Additionally, the New Zealand Gambling Commission has imposed strict laws for the licensing of brick and mortar casinos. Several unlicensed casinos have even been shut down amid this drive.
Players of New Zealand are allowed to enjoy various casino games such as Poker, Roulette, Baccarat, Blackjack, Online Pokies, etc., based on their age and preferences. They can legally make transactions in offshore online casinos.
The players of this country have to pay no additional taxes on the income made via international online casinos.
Why is the Market on a Rise?
The numbers associated with the recent uptrend of online gambling in New Zealand are intriguing. Despite stringent rules and regulations, casinos are enjoying blinding benefits from this country. Let’s take a look at the various aspects which contribute to the optimum condition for growth.
There is no limit to the variety of casinos available online. If a person has a stable internet connection and a device compatible with web browsers, they have tens and thousands of casino sites at their fingertips.
The players can easily choose their favourite ones and enjoy their favourite online casino games.
All licensed online casinos have numerous payment options that one can choose from. The payments are accurate and primarily instant. There are hardly any technical glitches or unforeseen delays- which too is handled carefully without causing any harm to the players’ money.
Most casinos have New Zealand friendly payment options such as PayPal and POLi. Many casinos also accept NZ dollars as the currency medium, cutting out the whole stressful process of currency conversion.
Online casinos operating in New Zealand have two primary regulatory authorities. These bodies are one of the most strict councils to get a license from. A legal permit from the UK Gambling Commission makes the platform extremely safe and reliable for the players.
Income made through international online casinos does not have any taxes levied on them. The entire amount won goes to the player hence becoming the easiest source of income.
Several reasons have contributed to the rapid increase in the popularity of online casinos in New Zealand. While the government of the country is doing an excellent job in regulating the practices, people and the casino industry continue to enjoy the benefits rolling in.