Why is New Zealand’s Online Casino Market Rising Rapidly?

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Over the past two years, New Zealanders have been pouring a lot of money into online gambling. International online casino sites are gaining high traffic from the Oceanic country. New Zealand’s domestic online gambling platforms are also growing fast. However, many believe that the fast-growing online casinos in New Zealand are harming the economy and not protecting its people. In 2020, the world’s leading online gambling websites are tapping into the New Zealand market to leverage this uptrend. Here’s how online casino and gambling is evolving in New Zealand.

Online Casino Gaming For the New Zealander

According to the census developed by New Zealand’s Gambling Commission, nearly 80% of all New Zealanders gamble in some way or another. Annually, most of these participants wage their money on offline and online lottery games. In 2013, however, New Zealanders spent over $2 billion New Zealand Dollars (NZD) on live casinos, sports betting, and offshore gambling portals.

Today, offline gambling in New Zealand has been brought down to 19% since 2004. However, lotto games and online casinos have witnessed an increase in participation by over 22% in less than five years. New Zealanders in their mid-30s are spending hours on online casinos, waging thousands of NZDs in an easy bid to pay off their debts.

New Zealand’s Online Gambling Laws

Online gambling in New Zealand is regulated by its own Gambling Commission as well as the UK Gambling Commission. On May 5th, 2020, both these gambling commissions passed laws that allow Kiwis to continue with online gambling only as a common pass-time activity. Currently, TAB and Lotto NZ are the only legal operators offering online gambling products in the country. The NZ Gambling Commission, under the Department of Internal Affairs, has imposed strict laws on providing licenses to local casino operators and has already shut down dozens on local casino operators, which were not licensed.

Based on age, New Zealanders can take part in online casino games such as poker, blackjack, roulette, baccarat, and slots, among others. It is perfectly legal to deposit and withdraw money to online casinos in New Zealand as long as the operator is based offshore. Several top online casinos accept and withdraw payments in NZD. New Zealanders have to pay zero taxes on their iGaming earnings made only from international online casinos.

Why is Online Casino Market in New Zealand on the Rise?

The number of casino sites New Zealand regulates is high. Online gambling choices are limitless for New Zealanders, which also drives their growth. Here are some of the main factors driving the fast growth of the online casino market in New Zealand.

Convenient Payments

Online casino operators offer multiple payment methods for New Zealanders. These payments are processed instantly and accurately, without any technical glitches. Getting paid from online casinos is most convenient, compared to NZ’s offline casinos. Players can use payment gateways such as PayPal and POLi. These winnings are also not taxable under the NZ Income Tax laws.

Secure and Safe Gambling

Top online casinos have high-security algorithms protecting the data of players. These iGaming sites also have licenses from high jurisdictions such as the UK Gambling Commission and the Malta Gaming Authority. This makes online casino activities safe in New Zealand.

Good Reputation

iGaming portals will great records get high participation from New Zealanders. Unbiased reviews of online casinos build trust among players. These websites are recognized with awards, approvals, and accreditations.

Local Support

The best reason why people in New Zealand play online casinos is that they offer local support. Players get assistance in local Kiwi languages. Customer support on online casinos is also available flexibly as per the convenience of New Zealanders.

Future of Online Casinos in New Zealand

New Zealand’s legal atmosphere currently supports the growth of online gambling. It is safe to play online casinos based outside New Zealand. The NZ government is heavily regulating local online casinos. However, these regulations are subject to change. As long as these laws favor gambling activities, any New Zealander interested in online casinos can place bets and win real money.

The post Why is New Zealand’s Online Casino Market Rising Rapidly? appeared first on Times Of Casino.



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