Online Casino Gambling in New Zealand
New Zealand’s citizens spend more than $2 billion annually in online gambling. Such figures indicate that gambling is a big part of their culture and one of their favorite pastimes. However, despite there being a large number of individuals who enjoy gambling in New Zealand, there are very few casinos in the country, currently only seven. However, there’s a reason for this. In this piece, we shall explore the laws that govern the gambling industry in New Zealand. This will help you to obtain a firm grasp and understanding of the industry before you dive deeply into it.
Regulations for Online Gambling in New Zealand
With regards to online gambling regulations, the New Zealand government took the initiative to put in place certain laws back in 2003. It passed a Gambling Act that stated in which states online gambling was allowed. Additionally, the law also points out that it’s illegal for NZ residents to participate in online gambling if the casino’s website is based within New Zealand.
So, essentially, it’s legal to gamble in New Zealand, but players need to ensure that they don’t play in casinos based in New Zealand. The same 2003 gambling laws also stipulate that NZ players can take part in sports betting and online poker since these activities are categorized as online gambling. Additionally, all winnings from online gambling are excluded from tax reports filed every year.
How are players in New Zealand Protected?
The laws and regulations laid down in the 2003 Gambling Act exonerate the New Zealand government from the liability that comes with online gambling. This is insinuated in the fact that the government allows NZ players to participate in online gambling activities, but only in casinos that aren’t based in New Zealand. This means that it doesn’t want to be held liable for any issues that may arise involving online gambling. This begs the question: who protects punters from NZ as it sounds as though they are left to the mercy of online casino operators?
Luckily, this cannot be further from the truth. NZ players are protected from any problems that may arise. The strict regulations imposed on the online casinos ensure that they operate in safe and professional ways. The license a casino holds is by far the best option for solving problems between players and casinos. The license regulators review cases in question and make unbiased decisions. The regulators take this responsibility seriously and do their best to protect players from potentially unfair and rogue online casinos.
How is Private Gambling Handled?
Although the 2003 Gambling Act doesn't explicitly apply to private gambling in New Zealand, there are some lines spelled out in the Gambling Act to govern and regulate it.
Is it legal to deposit and withdraw money?
Yes, it is. You are within legal grounds to deposit and withdraw cash with online casinos, provided that the casino isn’t based in New Zealand. In actuality, a couple of online casinos accept New Zealand dollars.
So, there you have it, everything you need to know to remain on the right side of the law while having a blast on your favorite online casino in New Zealand.