New Zealand is a tourist’s mecca. Apart from its breath-taking landscapes and serene surroundings, the island nation has its share of Casinos in the country. For now, five casinos are operating with the permission of the law. there are certain guidelines regarding the operation of gambling and betting in the country regulated by the Department of Internal affairs. The gambling law has certain restrictions in matters of online casinos and the legal age. The benefit of gambling being licensed by the NZ government gives the player ease of playing without having to worry about the fraudulence and unfair means.
Gambling in New Zealand is regulated by the Gambling Act 2003. The act deems every house illegal unless licensed by the Government. Though operating land-based casinos are legal, establishing online Casinos within the borders of the country is illegal. However, the law doesn’t cover the casino out of the country and as far as gambling is concerned, you are free to place your bet in any foreign Casinos. Many Casinos allow you to deposit NZD on the site.
Remote gaming is completely legit in the country with some exceptions. Gambling Act of 2003 covers any sort of legal remote gambling in the country. Online Poker is legal in the country. Sites are allowed to operate within the borders of the country as opposed to online casinos and winnings are not taxable. TAB and the New Zealand Lotteries Commission are the only organizations authorized to operate any type of remote gaming in New Zealand. Other restrictions may apply regarding the tax issues in certain cases, in that case, it is always safe to consult a Tax consultant. New Zealand doesn’t consider Gambling a profession but there have been certain cases, where the winnings have been defined as professional and players asked to pay taxes. Generally, the case is not like that and winnings are tax-free.
The Gambling is controlled by the Department of Internal Affairs. The Department has laid down guidelines for the houses to follow and any violation of its rules and regulations can end up in revocation of the license. The recent amendment to the Act of 2003 was passed in 2007. The purpose of this amendment is to enforce the regulations of 2003 and bring more accountability to Gambling establishments. It also includes harm-measure and the issue of a Gambling Problem.
The Gambling industry in New Zealand is required to contribute a sum of profits back to the community. The amendment makes sure to enforce that. They are required to watch over whether the funds are being distributed properly to the community. This is overseen by the Gambling Commission that works under the Department of Internal Affairs. Another guideline in the amendment is to address the problem of Gambling and wherever the problem exists, the house must make sure to provide the assistance and information to the individual. The agreements are part of the legal arrangement between the house and the Licensing authorities.