There has been a drastic increase in the expenditure on Gambling in New Zealand over the past decade. From the market being $1.9 billion New Zealand dollars worth to over 2.4 billion dollars now. One of the many reasons for this might be the flexible attitude shown by the New Zealand government towards Gambling. The government has put forth ‘The Gambling Act 2003’, which advances what is allowed and banned in the country under four categories. Online Gambling can be referred to as betting on sports, casinos, etc., online, which can also be known as e-gambling or internet gambling. The bets are usually placed through credit cards, and the profits and losses are inherited thereby.
Is Online Gambling Legal in NZ?
While residents are allowed to gamble on offshore websites and apps that aren’t controlled, Lotto and TAB are the only legal providers of these online gambling services in the country. It is illegal for others to provide these services. Compared to the UK or other European countries, the limitations to Gambling are considered much crueler in the nation but are lenient compared to North American countries.
Online Casinos In New Zealand
The online gambling industry is growing fast in New Zealand. The online versions of traditional casinos can be referred to as Virtual or Internet casinos. It allows the users to play and gamble in the comfort of their homes via the internet.
With around half of the casinos in the nation being owned by Skycity Entertainment Group, the casino industry is known to be popular and worth more than $4.5 billion NZ dollars. Gaming machines like pokies, also known as slot machines, are so popular among the residents that they can also be found in pubs and clubs and not just the casinos. While land-based casinos remain irreplaceable, many users have now shifted to the comfort of online casinos in new Zealand, which also offer a diverse variety of casino games. The need for online entertainment sitting at homes on their sofas, along with the web series and OTT platforms, has also led to the popularity of these online casinos.
Sports Gambling Among the diverse forms of Gambling, some appear to hold firm ground compared to the others. For example- Greyhound racing seems to be lacking while the sports betting industry is flourishing steadily. As a sports lover nation, NZ spends around $600 million NZ dollars on sports betting every year. Advancement in technology availability of internet or technological devices has made most of the betting take place online. Basketball, soccer, and tennis have become the most popular sports for New Zealanders.
What is in store for the future of these online markets?
The future looks very clear and advantageous for these markets due to the growing need for entertainment and technological advances, which will improve the gambling experience even further. As for playing on pokies and some other particular types of gamblings, which has been a part of this country’s culture evolving through generations, it will not change in the near future.
Online Gambling is set to flourish steadily because of the easy accessibility and gaming options available on the web. Advancement and the introduction of AI (Artificial Intelligence) will also help in the growth of this industry because of the personalized experiences it will provide according to the players.
With the easy availability and the decreasing prices of VR headsets, it is possible for more and more people to experience these. Online, reality-based tech-driven or VR casinos have become far more reachable to a large audience. While full replacement of land-based casinos is not possible, these online ones will continue to outgrow these traditional casino and gaming markets in the future.
As we are well aware that New Zealand is fast adapting and well aware of its surroundings sort of country, it is very easy for the nation to adjust to the new technological world. Due to this, casinos and gambling markets have started to appear and prosper online at a very high pace. With so many options of games available online at the comfort of their sofas, people have started shifting to these. Technological advances have improved the quality and the easy accessibility of the internet to more and more people, and online casinos have gained even more popularity. Below mentioned are some of the best online casinos in New Zealand for you to choose from- – Jackpot City – Leo Vegas – Spin Casino – The Sun Vegas – Casino Tropez
AUTHOR BIO:Vinod Gill is a writer who specializes in writing content on Insurance and Finance subjects. He is a Digital Marketing Consultant, Blogger, and Co-Founder of FixTheLife.
Original Source: https://thedailyblog.co.nz/2022/04/07/new-zealand-online-gambling-market-predictions-for-2022/