Many people who are just entering the world of online betting in New Zealand are not quite familiar with the laws regarding this activity. To avoid any potential risks and serious legal consequences, it is immensely important to learn about all rules one should abide by. In the following paragraphs, we will list some of the most common myths about New Zealand’s online casino gambling and will do our best to explain thoroughly why all of them are untrue.
Inexperienced bettors may think that there are no good online casino brands in New Zealand due to the fact that they are not in the know about The Gambling Act of 2003. We, however, will provide you with all of the essential details with regard to online betting in the country.
Myth-Busting the Five Most Popular Misbeliefs about Online Casinos in New Zealand
As aforesaid, many people are not aware of what’s legal and what’s not when it comes to online gambling in New Zealand. Many are certain that people who are of legal age are not allowed to register at or place online bets on sports betting or casino sites because the law prohibits it.
Even though this is true to some extent, individuals residing in New Zealand are still allowed to gamble online. Below, we will highlight and debunk five myths about New Zealand’s online casino betting. We are certain that the information provided in the next few paragraphs will be incredibly helpful to those who don’t have previous experience.
People in New Zealand Cannot Join Online Casinos
One of the most common myths about New Zealand’s online casino gambling is that this activity is actually strictly prohibited. People who are not familiar with the Gambling Law of 2003 state that betting at online casinos in the country is not permitted, regardless of one’s age. The truth, however, is not quite like that.
Although the Gambling Law of 2003 does not allow New Zealand-based online casinos to operate, it does not forbid users to join offshore websites that provide gambling services. For instance, if someone wants to register on any online casino based overseas. Customers are advised to always choose sites that are licensed; however, that is not mandatory. Nonetheless, if one becomes a victim of any type of fraud, he should seek assistance from the host country.
Offline Betting Is Much More Popular than Online Betting
The myth that offline gambling is more well-liked than online betting surely is untrue. As you already know, every eligible person may join offshore casinos that offer immense assortments of various games, including slots, table games, and so on. Plus, fans of sports have the right to lay bets on numerous events whenever they want.
Considering the fact that there aren’t many gambling facilities in New Zealand, we may surely conclude that the majority of bettors prefer to try out their luck online. Not only is it more convenient, but it is associated with greater diversity. Additionally, players are often presented with attractive casino deals, as well.
There Are No Licensed Providers in New Zealand
Despite the fact that the majority of betting enthusiasts register on offshore casinos, this does not mean that there aren’t licensed providers within the territory of New Zealand. The New Zealand Lottery Commission got the legal right to sell online lottery tickets back in 2008. The other licensed provider is TAB. TAB New Zealand is the only racing and sports betting agency registered within the borders of the country. It allows registered users to bet on horse racing events and different sports disciplines.
All Winnings Generated from Online Gambling Are Taxable
As many of you know, regulators in most countries around the world require people to pay taxes for any winnings generated from online or offline gambling. In New Zealand, however, that’s not quite the case. In fact, Kiwis are not obliged to pay taxes for money won from online gambling at offshore casinos or virtual sportsbooks.
Professional poker players, on the other hand, may have to pay taxes in case their earnings exceed the maximum limit of non-taxable winnings. The reason why money obtained from online betting is, most of the time, non-taxable is because gambling in New Zealand is considered a fun activity rather than a source of additional income.
Potential Clients Are Presented with Attractive Online Casino Bonuses
Now that you know offshore betting is legal in New Zealand, you may think that you will be presented with numerous attractive bonuses for New Zealanders. That, however, is quite unlikely to happen due to the fact that the Gambling Law of 2003 prohibits the advertisement of any form of gambling to users. In other words, you will not run into casino promotions banners.
Registered players may still be offered certain perks, such as boosted odds for particular sports betting markets. Additionally, depending on the brand, customers may be invited to join the loyalty program of the casino. These two things do not fall into the category of advertisement materials. Plus, Kiwis are only given the chance to utilize them after the completion of their account setup.
Final Words
To avoid any confusion or misunderstanding when it comes to betting on online casinos as a New Zealander, it is crucial to learn more about the laws associated with this activity. We hope that we were of help to those of you who are not quite experienced when it comes to gambling online. Please, be informed that further changes may be brought about, which means that you should always keep an eye on any news regarding the gambling regulations in the country.