While New Zealand isn’t necessarily synonymous with online gambling, punters who reside in the ‘Land of the Long White Cloud’ have driven an increased demand for online casino gameplay and sporting betting in recent times.
Players in New Zealand are also playing a key role in driving both domestic and international iGaming growth, as the nation’s burgeoning gambling sector continues to expand at a rapid pace.
NZ is also home to a growing number of bitcoin casinos, as cryptocurrency continues to have a significant influence on the iGaming space. Below, we’ve collated some further information on this and the best Bitcoin casinos in New Zealand, while asking why this boom may only just be getting started in the region.
An Overview of the iGaming Market in NZ
According to the most recent census developed by New Zealand’s Gambling Commission, approximately 80% of all residents gamble in one way or another.
The growing majority of these participants wager on a combination of offline and online games, while as recently as 2013, New Zealanders spent in excess of $2 billion on live casinos and sports betting specifically.
While this spend is distributed across both domestic and international platforms, it continues to grow at an impressive and relentless pace year-on-year.
Online gambling is also becoming increasingly dominant in NZ, as it has grown exponentially while offline betting has declined to a market share of just 19% since 2004.
At the same time, online participation has increased by more than 22% over the course of the last four years alone, with New Zealanders aged in the mid-30s fast becoming the most influential customers in this marketplace.
In terms of the regulatory climate, iGaming in NZ is overseen by the nation’s independent gambling commission and the UKGC from Britain.
On May 5th of this year, both of these commissions passed laws that enabled Kiwis to continue iGaming as a pass-time activity, with the domestic market currently offering TAB and Lotto NZ as the only legal operators in the marketplace.
However, this market is poised to grow despite the relatively strict laws imposed on providing official licenses to local casino operators, particularly as demand increases exponentially and international sectors continue to benefit from New Zealand customers.
Why We’re at the Beginning of a Bitcoin Boom in New Zealand
OK, we hear you ask, but what role does Bitcoin play in this marketplace and are we really at the beginning of a cryptocurrency boom in New Zealand?
In terms of the former, the iGaming market in NZ has evolved while offering multiple payment methods to players, particularly in the form of e-wallets such as PayPal, Skrill and Neteller.
These platforms are renowned for the high levels of convenience and security that they offer to players, as well as their capacity for instant payments. These benefits explain just why Bitcoin has become so popular in recent times, as this token offers similar advantages and more to online players.
This is thanks largely to the underlying blockchain technology that underpins Bitcoin, as this creates decentralised ledgers and payment platforms that produce immutable transactions.
This means that they cannot be altered by a third party, while the fact that payments are associated with a dedicated Bitcoin wallet or email address creates a degree of separation from players’ bank accounts.
Make no mistake; this contributes to a wagering experience that’s both secure and private, which is ideal for anonymous players who don’t want their gambling activity to be visible online.
These advantages highlight the growing appeal of Bitcoin casinos amongst players, while the fact that this cryptocurrency now boasts a total market cap in excess of $199 billion highlights just how the token has shifted into the consumer mainstream.
As a result of this, Bitcoin has quickly become one of the most trusted payment methods available online, creating a scenario where the demand for online casinos that accept this currency has soared significantly over time.
Another reason for the upcoming Bitcoin boom in NZ is the ease with which payments can be made through this platform.
When accessing an online casino (either domestically or overseas) from New Zealand, Bitcoins are usually expressed as mBTC, with 1 mBTC equal to 0.001 BTC.
This makes it relatively easy to gauge the real-time exchange rate and determine the precise amount required to meet minimum deposit requirements and qualify for available bonus offers, which is important given the underlying volatility of Bitcoin tokens.
With these points in mind, it’s little wonder that bitcoin casinos are becoming increasingly popular in New Zealand, with this trend likely to gather further momentum in the future!