Online gambling companies are continuously gaining popularity due to the influence of technology and trends. In the worldwide survey of Statista in the online gambling and betting industry, its market size reached US $ 61.5 billion dollars in 2021 and is expected to rise up to US $114.40 billion or more by 2029.
One of the challenges most players go through is finding the right and legit casino sites. The digital world is a smorgasbord of various casino sites and other online industries which is why it is not that easy to find one. Learn more at Casinocrawlers.com and get to know the latest casino sites that offer diverse games and the best benefits and bonuses.
A brief overview of online gambling in New Zealand
This may sound interesting but online gambling in New Zealand is prohibited as well as advertising. Offshore casino sites are not allowed to promote on the land to protect young people to engage in gambling. However the government is not that tight to anyone who wants to wager online so they are allowed with this activity as long as they follow the rules, the betting site should be from abroad and the operator agrees and accepts players from the country.
The 2003 Gambling Act
The Act has been revised countless times until 2003 it was finalized and proclaimed. It states that acquiring a lottery ticket, horse betting, and sports wagering is legal in the country as long as the bettor is 18 years old. But if the bettor wanted to wager in a physical casino, the required age should be 20 years old.
Online betting in the virtual lottery, poker, and sports are allowed. Unfortunately, other forms of virtual gambling are already banned.
Virtual Betting options in New Zealand
There are two entities that are allowed to propose internet gaming services in the country. These are the TAB and the New Zealand Lottery Commission.
· The Totalisator Agency Board or TAB is also called the Tote board. TAB plays a big role in the gambling sector of the country because it is responsible for channelling information about the horse race track, the telethon, and the online casino.
Back in 1920 until 1961, bookmaking was banned in the country after being taken over by TAB. This state-run agency is also part of the division of the New Zealand Racing Board and part of its work is to supply all sports games to the country.
The New Zealand Lottery Commission
The NZ Lottery Commission is responsible for promoting, organizing, and conducting all lotteries on the land. This agency is obliged to report all matters regarding lotteries to the Minister of Internal Affairs. They are also responsible for making the rules of the game. All proceeds are given to the New Zealand Lottery Grants Board which they distribute to cultural and sporting agencies.
Is betting online popular in New Zealand?
It is undeniable that the virtual betting industry is constantly rising and is very popular. People in New Zealand welcomed offshore online gambling with open arms although reports say that in the offshore gambling study from 2014 to 2022 only a few which is around 1.7% to 2% participated in remote online betting respectively. However, the NZ bettors are active in dog and horse racing, poker, and lottery games.
What influences the NZ players to wager online?
Technology and Mobile Casino
These two factors are the major influence of the people in NZ to wager online. All betting sites can be downloaded on their mobile and some do not require much except proper identification and cash to deposit. The deposit amount also is quite low compared to the physical casino and players are ubiquitous enough for them to wager at their convenience.
Needless to say, New Zealand is a perfect market for the online casino industry because people are enthused with gambling and wagering is accepted in their culture. They may have restrictions but their government is open to betting sites from offshore for their people’s entertainment.