Online gambling business in New Zealand: Interesting facts
Citizens of New Zealand have always been big gambling fans, who have retained their preferences up to this day. And the country government has always been loyal to this business. One of the first kinds of gambling in NZ was horse racing; the first bets were made by residents in the 19th century. Interestingly, horse racing remained legal even after the first NZ gambling law issued in 1908. The document put a veto on the entire gambling business, except for the races. No surprise that this kind of gambling is still popular among New Zealanders.
Over the years, gambling laws of NZ became softer, with a list of legal gambling activities being expanded considerably. Other favorite gambles of New Zealanders are slot machines, which can be played in both casinos online and land-based gambling houses. Nowadays, in the country, there are more than 17 thousand slot machines. And they have two interesting features. Gamblers who will ever go to NZ to try out their slot machines will be surprised to know that all the pokies are equipped with a special button that shows the amount you have spent in a particular gameplay session. What is more, all slot machines are equipped with an electronic monitoring system. The main function of the system is to track the data of all gaming machines in the country.
Legal Side of the Business
Although New Zealand is quite loyal to the gambling business, this doesn’t mean that the industry is not legally regulated. The main document regulating the gambling industry in New Zealand is the Gambling Act of 2003. The document classifies all the gambles into 4 different categories based on the financial costs and risks to society. Apart from the above law, there are also other related acts, which include Boxing and Wrestling Act (1981) as well as Racing Act (2003).
Online Gambling Business
The situation with online gambling in New Zealand is quite interesting. Despite the loyal attitude towards traditional gambling, the country authorities ban the organization of online casinos in NZ. However, it is not a problem to gamblers from New Zealand; it is even a benefit for them. Thus, people can legally play on international gambling websites, whose servers are located outside the state. In this case, the wins received in the game are exempt from income taxes and can be wholly cashed out. Withdrawing money will cause any difficulties to anyone since all the banking options are legal and safe in New Zealand. It will be only necessary to choose a payment system that charges less.