The practice of gambling in New Zealand has withstood the test of time for centuries now, but it is only recently that all forms of legal gambling have been regulated by legal provisions. Considering the constant changes, many questions have been turning in players’ minds regarding the situation, and the following answers are an attempt to provide benevolent terms for this industry to grow and progress into the online sphere, like all others.
- Are there any official records of the first days of gambling in New Zealand?
Yes, the first official records of this practice taking place on New Zealand territory date as far back as the 1830s. Back then, people were predominantly interested in betting on horse races, which eventually led to the invention of the tote board by a New Zealand-resident, Mr. George Julius.
- When were the first gambling laws enforced in the country?
The first laws regarding gambling were enforced in the 1920s, mainly referring to horse betting as the most popular form of gambling. These regulations banned such activities up until 1961, while other forms of gambling – lottery, pokies and casinos – were legalized 2 decades later, in the 1980s.
- What are pokies in the New Zealand gambling industry?
The slot machine games that have been enjoying massive popularity since their earliest appearance are called ‘pokies’ in Australia, and under immediate geographic influence, in New Zealand as well. Nowadays, land-based and online NZ Casino establishments find it practically mandatory to offer a selection of pokies to their player base, which further confirms their status.
- How is online gambling currently regulated in New Zealand?
All forms of gambling are currently regulated by The Gambling Commission which forms part of the NZ Department of Internal Affairs. They act upon the Gambling Act of 2003 which prohibits such practices unless licensed and regulated by the relevant authority. Land-based establishments which have obtained the necessary permissions are present on the gambling market, but the situation is different for online operators. Namely, the Commission cannot license them if they are based in the country, which is why most online casinos catering to New Zealand players are based elsewhere.
- If there are no online casinos based in New Zealand, how can NZ players transfer funds?
Online casino players from New Zealand can deposit and withdraw funds through a variety of banking methods, just like any other player base. Most of these operators even offer a currency converter, so that they can use their own NZD, just as long as their platform of choice is based internationally, and not within the country.
- What happens to withdrawals, are NZ online casino players taxed on their cashouts?
So far, there hasn’t been any law imposing taxation policies on New Zealand players for their online casino profits. This means that if they respect all legal stipulations mentioned above, they are going to be able to keep 100% of their cashout.