Did you know that there’s a monopoly in New Zealand on betting activities of all shapes and sizes? That sucks for players because they win less while paying more and more taxes. That, however, does not mean that the industry is doomed. People, as always, are willing and capable of finding additional routs over obstacles. Care to learn more?
Sure enough the world of online brought release to the aching pain of bettors all across the Green Continent. You can now find a handy NZ casino guide and engage into action immediately. But the real question is, “Should I?” Is it how the things are done around here? Well, you are free to find out the answer below. Do note however, that I gave the link for a reason.
There and back again: the tale of New Zealand’s sports betting
The government of the Green Continent rejected gambling for a rather long period of time. Sports’ betting, for once, was declared an illegal activity as early as in 1920. The industry remained on hold until TAB, the Totalisator Agency Board was granted with a monopoly to run events through a handful of government-owned organizations.
The industry took baby steps as the first casino was only opened in 1994. The facility was also under heavy regulation and fixed odds were forbidden by the TAB in 1996.
The Racing Board of New Zealand (NZRB) took over TAB in 2003 and is now is in full control of both safe, protected gambling as well as the racing industry.
Today the industry has grown and matured into a beautiful piece of art with a remarkable plethora of choices. Players are encouraged and offered with odds on all from rugby and to sheep shearing.
No foreigners allowed!
Alongside the national lotteries there is only one official sportsbook in New Zealand. It is also managed by the NZRB. Foreign companies are constantly rejected from the market despite all of their efforts at getting in for a fair share of the pie.
Although not able to enter the local markets, international organizations are still free to provide their services all across the globe and New Zealanders are safe and sound while accessing their offerings online. Citizens of the Green Continent are not forbidden to engage with international betting companies. Thus lots of sites have emerged to work with local residents.
What’s in it for NZ People?
No tax regulations. If you win – you win and that’s that. The end of the story. Finito. You are not obligated to share anything with the government if you’ve gambled and won online.
People of New Zealand are allowed to play on foreign sites and are better off with winning more while foreign entities are not allowed to provide betting services in New Zealand. How can this even work? Well, technically, online betting sites are slightly bending the law in their favor as they are not physically located under the jurisdiction of New Zealand. Everybody wins!