New Zealand is known as the Island nation. The country has its reputation in the touristy business but when it comes to Casinos, it is second to none. One thing about gambling in the country is that it’s completely legal and licensed devoid of any fraud. Regulated by the Department of Internal Affairs, the Gambling laws put certain kinds of restrictions on what sort of gambling is allowed or isn’t allowed? But as far as online poker is concerned, it’s legal in the country.
Gambling Act of 2003 criminalizes any type of Gambling illegal unless licensed by the law. However, there are strict restrictions on the online casino but Land-based casinos are good to go. Establishing an online Casino and operating it within the borders of the country is illegal, but the law doesn’t restrict the nationals from placing their bet on online casino based out of the country. You are free to wager your money on foreign online casinos and cash-out the payments. Many of these casinos allow users to deposit their amounts in New Zealand Dollars.
There are certain restrictions to remote gaming, but generally, it’s legal. The gambling act of 2003 also covers online gaming. However, online poker sites are allowed to operate from the country and the winnings are not taxable. Though the restrictions will apply in matters of winnings and it would be better to consult a tax consultant regarding it. In general cases, the winnings are not taxable as the country doesn’t consider the winnings as income but instead puts them in a category of recreation. Regarding the issue of remote gaming, TAB, and the New Zealand Lotteries Commission are the only organizations authorized to operate any kind of remote gaming in New Zealand. You can safely play online poker and cash-out your winnings without having to worry about the tax.
Gambling in the country is regulated by the Department of Internal Affairs. Gambling Act of 2003 chalks out various guidelines for the business houses and violation of any such regulations will end up in revocation of their business licenses. In 2007, the recent amendment to the act was brought. It empowered the law to bring more accountability and enforce the Gambling Act 2003 in letter and spirit.
The Casinos industry is required to contribute a sum of their profits back to the community. The act of 2003 and its amendments make sure to enforce that. This is supervised by the Gambling Commission that works according to the guidelines set by the Department of Internal Affairs. The recent amendment entails the houses to address the gambling problem wherever it exists. The house must ensure that they provide assistance and information to the individual. This is the legal binding between the Casino houses and the licensing authorities. Any sort of violation or inability to follow the guidelines will cost the House its operating license.
New Zealand has five Land-based casinos in the country. However, the online casinos are not allowed to operate from the borders of New Zealand, online Poker is a completely legal business in the country. Several sites offer online poker with NZD being one of the acceptable currencies. Gambling is considered a recreational affair in the country and hence, the winnings are not taxable. Apart from that, you are free to wager your money on a foreign online casino and there won’t be any hiccups when cashing out from New Zealand. Though you need to be careful about the credibility of the platform and after you have established its legality, you can give it a go.