Is Online Sports Betting Legal in New Zealand?
In New Zealand, online sports betting is allowed. Through Totalisator Agency Board New Zealand (TAB NZ), which used to be known as the New Zealand Racing Board, and the Racing Industry Transition Agency (RITA), all forms of sports wagering are a monopoly in this country due to the 2003 Gambling Act. The only difference is that earlier it was referred to as New Zealand Racing Board and today it is called TAB NZ. According to the Gambling Act of 2003, any kind of gambling, including horse racing and dog racing can be legally done through RITA – a government-owned company that manages all kinds of betting on sporting activities in New Zealand.
It is possible to place bets through either totalisators or fixed odds using TAB NZ, and over 80% of the dollars bet on totalisators are winnings to customers, with the balance going to race and sport codes after tax and costs. In addition, there are many other bookmakers that accept New Zealand residents.
International Betting Sites Accept New Zealanders
New Zealand’s online gambling market has been the target of various foreign betting companies who have endeavored to join it legally but unfortunately they have all been turned down; however, the government has not made any attempt to stop international operators. These sites are said to be in violation of New Zealand’s gambling laws because they don’t have a physical presence in the country and, therefore, accept customers from NZ.
Even though there is a ban on advertising, and the government wants citizens to use TAB NZ, kiwis are free to gamble on their favorite sports wherever they want. Options include almost all of the major UK and European sites, which offer competitive odds for a wide range of sports, as well as generous deposit bonuses or free bet offers for new and existing customers.
As a result of the legal status of the sites in New Zealand, you will not get any support from the government if anything goes wrong; hence select an established firm for betting purposes.
No doubt, English is one of the accepted languages on many gambling sites in New Zealand so seeing the page and talking to customer service representatives will not be a problem. Yet you might need to wait with your account balance and make bets in Euros or US dollars because very few online betting firms receive deposits in New Zealand dollar (NZD).
The History of Sports Betting in New Zealand
Concerning all of New Zealand, the major ethnic groups that make up the country need to be identified before we begin examining the history of sports betting in NZ.New Zealand is a nation made up of two main islands, the South Island and the North Island, positioned in south-western Pacific Ocean. The first settlers were Polynesians who arrived here in 1200s and changed into Maori people four centuries later when Europeans also joined them.
The present day New Zealand culture has been majorly influenced by the British while old Māori has had a greater impact on the country since 1960s. Moreover, New Zealand was among APEC’s founder members in 1989 that promotes free trade among Asian-Pacific countries.
The 90s marked a period of growth in the New Zealand gambling industry as its first casino was opened in 1994 and TAB was allowed to offer fixed odd betting and sports betting services in 1996. In accordance with the Racing Act 2003, TAB NZ is tasked with developing the racing sector.
In New Zealand there are more than six hundred and seventy-five TAB NZ outlets scattered all over the country, taking bets on rugby, cricket and even sheep shearing. The betting products include fixed odds or pari-mutuels options. Besides that, in New Zealand this company has got a telephone service as well as transmitting horse racing via two television channels.
The Future of Online Betting in NZ
In New Zealand currently, there appears to be a contradiction in the government’s position in regards to online gaming; they do not allow any new online operators but they are not stopping offshore sites. Therefore, as a gambler, you can select from a number of world-class online sports books.
While other countries want to close international websites and prevent their money from leaving the country, New Zealand does not seem eager to do the same currently. The implication is that will be different in future though there is no hint about time or whether it will even happen.
What is the best betting site in New Zealand? However, there is the commonly held belief that the best gambling destinations in New Zealand are those operated by foreign gambling companies, despite the fact that TAB NZ has over 60,000 Kiwis betting every week. This is because no ISP blocks have been put in place hence you can enjoy huge bonuses and extremely competitive odds on each of these sites we suggest.
Are NZ betting sites safe? Sure thing! The government, though, encourages sports bettors to place their bets with TAB NZ, but New Zealanders can access international betting sites without any restrictions. To register with a licensed operator that provides generous bonuses and competitive odds, join any of our recommended sites.
Do betting sites accept New Zealand dollar? The top betting sites take in New Zealand dollar as their currency. You could go for Euros or US dollars if you fail to select the official currency of New Zealand during registration. In this case, we recommend using a currency exchange site such as Xe.com so as not to exceed your limit while depositing and betting.
Q.New Zealand does it impose taxes on gambling earnings? A.No. Currently, in New Zealand, there is no imposition of tax on profits from gambling and this implies that the prize money could be withdrawn without having to give government some percentage of the winning funds you received.