iGaming is an online betting where bettors place their bets on the outcome of an event or a game in the future. Online casinos, eSports, binary trading, ePoker, eSlots, and sports betting falls in the iGaming category.
iGaming is a huge virtual business based on Statista and has a market size of 61.5 billion dollars in 2021 and will rise up to 114.40 billion US dollars by 2029 according to the online gambling and betting industry worldwide survey.
The online casino nz guarantees legit casino sites with a wide array of various casino games and huge bonuses and lots of promos.
iGaming can be available depending on the location and its restrictions hence a player needs to check their geolocation to be sure if iGaming betting is allowed in this territory.
The iGaming in New Zealand
The people of New Zealand are known for their beautiful scenery, the best culture, and the people’s good nature. They are fun-loving and enjoy entertainment which includes online gambling. All forms of gambling like physical and online betting are permitted in the country as long as the player has to be of legal age of 18 to wager.
In the Gambling Act 2003, gambling events like online lotteries and sports betting are the only ones legal in New Zealand. The country might be lenient in online gambling but the rules implemented for online casino operators are indeed rigorous and for this reason, it is guaranteed that all betting sites in New Zealand are safe and secure.
iGaming is classified into four categories and each activity has its own rules:
1. Class 1 law applies to games that do not involve commission sharing between the casino site operator and the player and only the authorized representative is permitted to give and/or receive wages to the player.
2. Class 2 gambling activity can be similar to Class 1 which means that no commission should be involved in which neither the player nor the gambling operator is allowed to receive or give commission.
All gambling activities should be run by registered representatives and not individuals.
3. In Class 3, all gambling activities are commissioned and it is run by the department of internal affairs which is responsible for overseeing these activities. The department should be consulted and after they give the green light can the action take place. Machines are not allowed in this class.
4. The online casino falls in this class therefore machines are permitted in the gaming session. Only registered gambling operators are allowed to run this type of activity and it is illegal to host these types of activities without proper licensing.
More interesting information about wagering in New Zealand:
· The Gambling Act 2003 is controlled by the Department of Internal Affairs.
· All gambling service providers in New Zealand who are based in the country are the only ones eligible and have to follow the law.
However, since offshore online casinos are based outside New Zealand therefore it is not illegal for people from New Zealand to sign up and play from casino sites offshore but it will be at their own risk.
· The government of New Zealand requires all casino operators to contribute half of their profit to the community. The profit will be used the funding the education, art, and science of the country.
· Although casino sites from offshore have the freedom to accept players from New Zealand, they are not authorized to advertise their sites in New Zealand. The reason for this is to protect the minors.
· Majority of the gambling games are tax-free as long as the player is wagering for pleasure and not a professional gambler or a paid bettor.
The government doesn’t have to know the player’s winning and doesn’t have to announce it to the public, especially in terms of the lottery which means that the player can have privacy in terms of their winning.
The jurisdictions in New Zealand are indeed stern which can be the reason why New Zealand has limited online casinos. The reason for this is the country is protecting its citizens from being involved in scams and gambling addiction.