New Zealand Online Casinos and Gambling

Gambling Act 2003

Some players who reside in New Zealand may be confused about eh laws pertaining to online gambling. Many may believe that it is illegal to engage in such action, but it is completely legal for any player within New Zealand to access an off shore online casino and play the games that are offered for cash wagers. Much of the legal confusion comes from the Gambling Act 2003. This act prohibits online casinos from operating in New Zealand, but does not restrict individual players from accessing casinos that are licensed in other countries.

The laws that are in place are there to prevent any online casino from being established within the country’s borders. At this time, there are no legally operating casino sites in New Zealand, so players will have to turn to off shore casinos to meet their gambling needs. The laws do not apply to players, only operators of sites. This means that every Kiwi gambler will have the legal ability to place wagers on their favourite casino games at an off shore casino site.

With this ability, players can enjoy some of the top rated games in the industry and can generate some amazing payouts when they visit an online casino. Again, the laws only exist to prevent online casinos from operating within New Zealand, not to stop players from gambling online.

Kiwi Payments

When players make the decision to gamble online, they will often choose a casino site to play games that will generate real money rewards. In order to benefit from any payouts from casino games, one will have to create their own real money account, which will include choosing one of the supported banking options at the site. For Kiwi players, there are some great options that are available and they all allow players to conduct their deposits and withdrawals in New Zealand Dollars.

New Zealand players can use their major credit cards like Visa and MasterCard to add funds to their casino accounts. In addition to this popular method, players will also benefit from POLi, a method that is only available to New Zealand and Australian players. This is an online banking option where funds will be directly transferred from a personal bank account to the online casino account. This method has become one of the top choices for players who do not have, or do not wish to use a credit card online. Some there preferred options include Neteller, Skrill and Ukash.

The great thing is that all licensed and regulated online casinos will use encryption software when processing transactions. This protects player information and provides a completely secure way to enjoy the gambling action offered at a casino site.

Winnings and Taxes

One thing that many players all over the world have to contend with is taxes for winning while playing casino games online. Luckily, New Zealand players do not have to pay any taxes on any wins that are generated at a casino site. The tax guidelines that have been issued by the Inland Revenue Service states that all income generated from gaming machines will be exempt from income tax. Since online gambling is seen as a hobby or casual pastime, the winnings are not considered a source of income and will not be taxed.

When players do generate payouts from the games they have selected online, they will have to make sure they have a secure way op withdraw their funds. Many will continue to use POLi and have their wins directly deposited back to their bank account. Since there are no tax issues, players never have to feel they need to hide what they win.