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The New Zealand Dollar Casino

New Zealand Dollar Casino

The New Zealand Dollar happens to be the official currency and also the legal tender in the Island country of New Zealand. The new New Zealand Dollar is also the official currency in the Pitcairn Islands, a place that is also a part of the official British territory. The New Zealand Dollar is abbreviated as NZD on a lot of casino sites on the internet. They make use of the universal $, which really makes it difficult for players to know which dollar is accepted. That is why, they make use of NZ $to know that the New Zealand dollar is accepted.

In this guide, I am going to talk about the New Zealand Dollar casinos, which are available on the internet.

There are a lot of casinos on the internet nowadays. Especially since the coronavirus pandemic and the physical casinos had to shut down, there has been a boom of online casinos on the internet. I am not even a little bit surprised, because casinos have been very popular for decades. I am not surprised that online casinos are booming this year.

Imagine you have found an amazing online casino to play at and that you are ready to make your first deposit, but there is a problem of playing with another currency which kicks in all the time. It can be quite a nuisance when you are depositing and withdrawing funds in a different currencies, since the exchange rates are constantly ever-changing. That is why, players are not updated a lot of times, and they lose out on some money. A lot of people have come forth and said that they had lost money while drawing or depositing in different currencies. Luckily, players from New Zealand actually have a selection of casinos that accept the NZD as the staple currency. The New Zealand dollar currency also facilitates the entire casino’s gameplay experience. Most of the online New Zealand casinos have been known to provide an amazing selection of games, a variety of different payment options, a lot of rewarding bonuses, amazing promotions and some free spins as well. They have told that they even maximise the winnings.

Nowadays, it is definitely hard to find a safe and secure online casino where you will want to play your favourite games. Finding a good casino on the internet can be quite challenging, indeed. Searching for a casino that accepts the New Zealand dollar for the Kiwis can be really tricky indeed. Thankfully, there are quite a few, and I have put together a list down below, a list of casinos that accept the New Zealand Dollar.

  1. Spin PALACE
  2. SKY CITY
  3. G SLOT
  4. Lucky Nugget
  5. Leo Vegas

The Advantages And The Disadvantages Of Casinos With The NZD (New Zealand Dollar)

Advantages And The Disadvantages Of Casinos

In this article, I’m going to be talking about some pros and cons of casinos that make use of the New Zealand Dollar.

Imagine a casino keeps telling you that you have to pay the currency of another country, just because they do not hold the currency of the home country. Imagine you want to gamble at your local casino and keep asking you to pay GBP, even though you reside in the United States of America. Well, this isn’t happening anymore, something that used to happen in New Zealand. In New Zealand, the casinos used to accept only the USD, but now they are accepting the NZD.

There are a lot of advantages to playing with the New Zealand dollar. The first and also very obvious advantage is that the players know exactly how much they would be depositing and how much gameplay they can get out of it. If the players have to keep exchanging the currency, they would have lost a lot of money, which is something that used to happen.

When you are changing a currency like the NZD, to the USD, you will have to pay a transaction fee. Since there are a lot of casinos that are accepting the New Zealand dollar, the transaction fee is not required anymore. These fees look small when it comes to a single transaction, but when we are playing a lot, over time, they can be compiled, and they can look like a huge amount. Play as a deposit in the local currency and are not affected by the exchange rate anymore. They are already gambling at a casino that accepts their currency.

Here are some disadvantages of depositing in the New Zealand Dollar. The biggest disadvantage of gambling in the New Zealand dollar is that although a casino may actually accept the New Zealand Dollar as a deposit currency, the e-wallet or alternative payment methods which you may want to use may not support the New Zealand Dollar.

Another minor disadvantage is that you may not benefit from the potential weakening of the New Zealand Dollar and this is a minor disadvantage which you should not be considering. The exchange rates keep changing.

Since online casinos are becoming more and more powerful and travel and, the entire gambling industry is expanding its reach and a lot more trustworthy New Zealand casinos are coming up on the internet. I’m sure you are asking yourself what makes a safe and secure casino site and I have an answer to that. A casino site is safe and secure when you can deposit and withdraw money without any reservations about safety.

Some Info About The NZD And The NZ Casinos

About The NZD And The NZ Casinos

In this particular guide, I am going to be giving you some information about the New Zealand Dollar and also how the New Zealand dollar has influenced the casinos in New Zealand.

Well, a casino is supposed to operate with multiple currencies in circulation. In most international casinos, you can actually exchange a lot of currencies. The New Zealand dollar was actually introduced in the year 1967 to replace the New Zealand pound which was actually in circulation since the year 1933. Before the New Zealand pound, the official currency was pound sterling. The traditional pound system was actually seen as an archaic and cumbersome system, and by the mid-1950s, the government had actually decided to investigate a decimal-based system.

That was actually a committee that was established in the year 1957 in order to investigate the changing of the currency and the Decimal Currency Act, which was passed in the year 1964. The official date of the transition was set for 10 July in the year 1967. On Monday, 10 July in 1967 became known as Decimal Currency Day, with the initial change rate being 2 New Zealand dollar to 1 pound.

Most of the casinos only accepted the United States dollar, when entering the kiwi casino market in the 2000s. This also made it incredibly difficult for a lot of the casino fans in New Zealand, to budget their gameplay as the currency rates actually fluctuated all the time, and they were forced to pay the currency conversion fees whenever they played. SpinPalace was actually one of the first New Zealand online casinos that accepted the New Zealand Dollar as an officially supported currency in the mid-2000s.

A lot of other online casinos in New Zealand started following the suit soon after allowing all of the gamblers, to gamble making use of the New Zealand Dollar.

There are a lot of advantages to playing in the New Zealand Dollar. The first and also the most obvious advantage is that the players know exactly how much they would be depositing and how much gameplay they are going to be able to play with the money that they have deposited. It is incredibly common for players who are not playing in the New Zealand dollar, to spend more than they think, when they are playing on online casinos. The exchange rate fees are actually hidden costs that the players do not need to pay, if they are making use of the New Zealand dollar, in online casinos that accept the New Zealand Dollar. These fees will look small on a single transaction, but when they add up over time, you will be saving a lot of money, when you are playing in the New Zealand Dollar.

Some Advantages Of Gambling With The NZ Dollars

Advantages Of Gambling

Gambling is a very liberalised industry in the Island country of New Zealand. This liberalised industry has been very famous for raising more than NZ$2 billion every year, making it one of the most lucrative industry in the entire country. For example, the cheese industry has been making NZ$1.9 only. Interestingly, the cameras in New Zealand actually focus on only for activities which happened to be lotteries, pokies, casinos and horseracing. These four are heavily focused upon. Today, the online casinos are becoming incredibly popular, more than ever. However, many New Zealanders have been playing on these online casinos with foreign currencies, and they have been facing some problems. In this guide, I am going to be talking about some advantages of gambling with the help of the New Zealand Dollar.

One of the biggest problems that the people are facing is that when they gamble with foreign currency, they are losing out on some money when the money is exchanged. For example, if they have to gamble with the United States dollar, they say that they are losing out on some money when the exchange happens, when their New Zealand dollar currency is changed to the United States dollar.

But, since casinos are now accepting the New Zealand Dollar, New Zealanders can gamble in peace.

Advantages:

  1. It is a stable currency. New Zealand has had a very stable economy. Look at how that country is dealing with the coronavirus. The country also has huge ties with economies, including the United States of America, South Korea, Japan and China. It has a robust economy, and it has a very positive impact on the New Zealand dollar. It is very beneficial to international ties. There is also very little foreign exchange risk when you are gaming in the New Zealand Dollar. Your winnings are very secure, because the value of those earnings remains stable over time. This kind of stability arises because of the New Zealand Dollar and because of its resilience which is backed up by a very strong economy.
  2. The New Zealand dollar is very widely accepted. What do you think the point of winning is, when you cannot use your winnings, because they are not accepted by a lot of people? Accepting the currency is definitely a voluntary act. That is why, a lot of people, even banks may refuse certain currencies, because of one reason or another reason. You can gamble with the New Zealand Dollar because it is an official legal tender. The New Zealand dollar is also one of the top 10 traded currencies in the world.
  3. There are absolutely no red flags that you have to worry about.
  4. You will get to keep all your money, because you don’t have to pay a fee.

Information About Trustworthy NZD Casinos

Trustworthy NZD Casinos

Since online casinos are becoming very prevalent and incredibly famous, and the gaming industry has expanded its reach, one of the biggest concerns for players is actually finding a trustworthy and reliable online casino. Online gambling has certainly made a mark, and a lot of people are talking about it. Luckily, there are a lot of casinos out that that accept the New Zealand Dollar and are very trustworthy as well.

What exactly makes a safe and secure casino website?

Well, the answer to the question is very simple. The casino site must do a fantastic job when it comes to dealing with the finances that come in and also the finances that go out. They should be very careful with the money that is deposited by the customers and also they should do a fantastic job, and it comes to paying the customers that have won a lot of money.

Customers in New Zealand are looking for online casino sites that offer dealings with the New Zealand Dollar. There are a lot of factors that actually contribute to the safety of online casino sites. They should ensure that all the casino games offer random and fair chances for all the players. When it comes to the players’ privacy and all kinds of financial information, it should be completely protected. The financial aspect of the casino must be foolproof. They should not be susceptible to hacking.

An online casino is reliable when they pay the customers promptly. An excellent online casino should process the deposit, and all the withdrawals very quickly and securely. They should not take weeks to do so. The online casino should be certified and regulated. They should also be tested by an independent auditor.

Also, when evaluating an online casino, the players should always look for legal information and all kinds of licensing which are usually found on the casino site itself. You can actually find a lot of trustworthy casinos that have the

Most of the New Zealand online casinos actually accept the New Zealand Dollar as a deposit method. They have been offering a lot of different deposit options as well. They include credit card payments, online payments, E-cheque payments, PayPal payments and bank transfer payments.

Here are some key things that you should look out for when you are deciding on a banking method with a New Zealand Dollar casino.

  1. Banking fees.
  2. Restrictions when it comes to the country.
  3. The security that the online casino site offers.
  4. Deposit and withdrawal waiting periods and rules and regulations.
  5. Withdrawl and deposit limits that are offered by the online casino.

The above information that I have provided is essential when you are choosing a trustworthy New Zealand Dollar casino.

Gambling Being Prohibited In New Zealand: Some Information

Information

In this guide, I am going to be discussing the gambling habits of New Zealanders and how gambling is handled by the law in the island country of New Zealand. Gambling in New Zealand is actually illegal unless, it is authorised under the gambling act of 2003. In addition to this particular thing, there are a lot of gambling habits that are prohibited under this specific act. Remote interactive gambling is prohibited, advertising overseas gambling is prohibited, gambling excerpts of gambling act 2003 is prohibited, and prizes are also prohibited.

The gambling act also does a fantastic job when it comes to classifying gambling into four classes, other than gambling that is conducted by casinos and the New Zealand lottery commission. Each of the first three classes specify many different maximum prizes and turnover as well as who can actually conduct the gambling activities and whether they need a licence or not.

Class 1: Class 1 of gambling cannot actually have a prize or even a turnover of more than $500. All the proceeds from gambling, including the interest, if conducted by an individual, must be applied to all the winners. Only Class 1 gambling can be conducted by the individuals.

Class 2: Class 2 gambling must have prizes with a total value between $500 and $5000 and the potential turnover from gambling must exceed $500, but it should not exceed $25,000. This class of gambling does not actually require a licence, but it must be conducted by societies as defined in the gambling act of 2003.

Class 3: Class 3 must have the prizes with a total value that exceeds $5000.

Class 4: Gambling in this particular class refers to gambling that makes use of gaming machines. It is banned for classes 3 and 4 to conduct gambling activities without a license.

Communication devices which include computers, telephones, radios and other similar devices fall into the definition of interactive gambling. To fall into the above definition of gambling, the participant must actually be something in order to participate, indirectly or directly, and there must also be an element of chance in order to win any money. The prohibition would actually include selling of lottery tickets on the Internet and would also include a New Zealand casino site.

There are a lot of exceptions that you need to know, to this particular rule.

  1. The lotteries commission and even the racing board can actually conduct all approved forms of remote interactive gambling activities.
  2. Sales promotions in the form of any lottery conducted in New Zealand are excluded from the ban on remote gambling that is also interactive. However, the sales promotions which are not lotteries may end up falling under the definition of a remote interactive gambling.

 

5 Must-Know Facts Before Investing NZ Dollar in the US Sharemarket

The US Sharemarket is the most profitable share market globally that offers options for the top global companies from the US and other countries. There are many ways to invest in US shares from New Zealand. You can choose from platforms like Hatch and Stake to buy and sell US shares. Some New Zealand platforms also offer US-focused managed funds, while e-brokers will help you find the right options. Usually, there are no monthly fees for these platforms, so you can join for free while keeping your ongoing cost down. But before you make your first investment, you must know about the platforms that you can consider to minimize the investor costs and get the most returns. Here is what to know before investing the NZ dollar in the US Sharemarket.

Brokerage fees vary between platforms

The brokers who help you find the right options may or may not charge a fee to buy and sell shares for you. The average fee for investing in the share market may range from $0-$30. Some brokers also offer free service while they make profits from the spread. The stake is the cheapest brokerage available in New Zealand right now that offers 0% brokerage fees.

NZD to USD conversion will cost you

When you exchange currency on forex based on the spot rate, you will be losing some money as a margin while investing. Hatch takes 0.50% for conversion compared to 1%-1.5% charged by other platforms. It means that for every $1000, you will pay from $5-$15. You will have to pay the same again when converting from the US dollar to the NZ dollar. Invest in a platform that lets you keep your money online to invest in multiple trades rather than a platform that offers instant conversion.

 

Most platforms charge no fees

Most of the investment platforms charge zero fees for keeping money online. You will only pay when making a trade. Stake offers some extra features for a monthly fee, such as trading with unsettled funds and a stop-loss feature.

Road test the platforms to find your best

It is always better to have extra needless information for the shares than to have limited information. You must be informed as much as possible about your company. Use online tools to check the latest data for the companies. The most common information you need includes share price updates and statistics that help you search for companies by sector. Today, most platforms have a mobile dedicated version for their tools that can provide better access to the information than a website only platforms.

Check the customer support

Last but not least, check for customer support and how easily you can access it. Find out the ways you can communicate with the support team and whether the support will be available at all times. Traders require quick assistance to make urgent decisions, and if a company fails to provide the right solutions on time, it can result in losses for the investors.

 

Benefits and Risk Factors of Investing in US Shares from New Zealand

US sharemarket offers some of the biggest companies like Facebook, Alphabet, Microsoft, Nike, and Bank of America for investors to purchase and sell shares. Once can expect endless options in the US sharemarket while investing. On the other side, the NZX does not offer enough good investment options apart from Auckland Airport, Spark and Fletcher Building, and Air New Zealand. This makes most NZ investors head to the US share market to make reasonable investments. Today, several investment platforms offer New Zealanders to make profitable investments in the US sharemarket. These platforms compete vigorously to help provide the best service while charging minimum fees. While they offer several benefits to trade with NZ dollars, there are also a few risk factors one should keep in mind.

Benefits of investing in the US sharemarket

Wide range of investments

The NZX sharemarket of New Zealand offers around 200 companies for investors. The limited options for the investors make it difficult for them to make smart choices. There are small companies that get listed over time, but they do not do much. US market, on the other hand, offers 3,500 companies and ETFs. It creates a wide range of opportunities for traders to learn and grow their profits.

Small to no fees on investments

Most of the platforms that offer investment options for NZ dollar charge minimum to no fees. The e-brokers earn from the spread in the currency exchange and sharemarket. This helps the investors in New Zealand get complete access without wasting any money. Before 2018, the US share market was expensive and difficult to access from other countries. Today the online trading platforms have made it easier for investors in New Zealand. While most of the trades are free, some platforms like Stake offer additional features for a minimum fee.

Risks of investing in the US sharemarket

The Exchange rates can fluctuate

If the NZ dollar rates fluctuate and go higher than the US dollar, your investments in the share market can be worthless when you invest from New Zealand. This means that upon investing NZ$1000 when the NZD: USD is 0.60 and withdrawing it at a 0.75 rate, your returns will be NZD$200 less.

The US sharemarket has different timings

The NZX50 opens from 10 am to 4:30 pm in New Zealand, which makes it easy for local traders to invest during the day. On the other hand, the US sharemarket opens from 2 am to 10 am in New Zealand. It means that you will need to manage your time accordingly.

Observing the US market is difficult from New Zealand

Staying in the US can provide better insight for the US share market and its companies. Investors from New Zealand can feel disconnected from the US sharemarket. That is why it is important for New Zealand Traders to find a platform that can provide them the best options without them having to check for the market condition directly.

NZ Dollar Remains Among the Top Ten Currencies in Forex

Despite New Zealand being a mid-sized economy, the NZ dollar remains one of the heavily traded currencies in the forex market. NZ dollar represents up to 2% of all trading in forex. NZ dollar or NZ$ has a currency code of NZD in forex, which trades NZ$105 billion daily in the global forex.

The Reserve Bank of New Zealand regulates the NZ dollar, which is also the nation’s central bank. NZD has NZ$1 and 2 denominations in coins, and NZ$ 5, 10, 20, 50, and 100 denominations in banknotes.

The Economy of New Zealand

New Zealand has the 71st largest economy in the world based on the GDP of the country. New Zealand’s top industries include agriculture, fishing, forestry, manufacturing, mining, construction, real estate services, and tourism.

The top exports of New Zealand include meat, dairy products, lumber and wood products, wine, and crude oil. The imports include textiles, mechanical machinery, vehicle and parts, petroleum and products, and electrical machinery.

The top partners of New Zealand are the US, China, Japan, Australia, South Korea, and Germany.  After quitting the dependence on the British market in the 1980s, New Zealand progressed from being an agrarian economy to an industrialized, free-market economy. NZ dollar now competes in the international forex market as a free currency.

The present value of the NZ Dollar in forex remains at the tenth position for the most traded currencies in the world. The NZ dollar has maintained the tenth spot for a decade while the US dollar retained the number one spot with 88% of the forex, followed by the euro and Japanese yen. The Trading figures for the forex market has reached $6.6 trillion per day in 2019.

The forex market continues to remain the highest traded market in the world. The US, the UK, Japan, Singapore, and Hong Kong SAR hold 79% of all trades in the market. New Zealand’s foreign exchange market deals with an average of US$ 9.5 billion per day, according to the survey conducted in April 2019.

The most common currencies traded in New Zealand include the US dollar, NZ dollar, Australian dollar, Japanese yen, and the euro.

The NZ dollar value is strongly dependent on the trading relationships that New Zealand has with countries like China, the US, Australia, and Japan. The imports and exports in New Zealand are majorly responsible for the position of the currency in forex. The key trading partners for New Zealand are China and Australia, were the major exports like agricultural products creates a business for the companies in New Zealand. At the same time, New Zealand also imports oil, machinery, and cars, which also impacts the global forex market. The most important markets for traders to watch are NZD/USD, EUR/NZD, and NZD/JPY.

 

Guide for NZ Dollar Online Casinos  – 2020

New Zealand allows sports betting and gambling for the locals and ex-pats. There are a total of six brick and mortar casinos in New Zealand that offer all types of casino games. All the casinos in New Zealand only accept the New Zealand dollar. If you are travelling in New Zealand, you will need to head to a money exchange office before heading to the casino. You can also find the money exchange counter in the casino resort you are staying at. In this guide, you will learn about casino gaming in New Zealand.

Benefits of NZ Dollar Casinos

We recommend playing at the casinos that accept NZ dollars while playing from New Zealand. It can offer you several benefits.

While playing on a casino that accepts the NZ dollar, you do not have to worry about paying the conversion fee. You will also not lose any money in the currency exchange due to poor conversion rates. When you have to pay in NZ dollars, you can transfer the money directly from your bank account. There are plenty of amazing casino options available online that accept NZ dollars. The top casinos in our list are:

Lucky Nugget Casino

Offers up to NZ$200 on the first deposit with a minimum deposit of NZ$10.

Spin Casino

Offers up to NZ$1000 on the first deposit with a minimum deposit of NZ$20.

Yako Casino

Offers a guaranteed bonus of NZ$99 on the first deposit with a minimum deposit of NZ$10.

How to make a deposit using NZD

Using NZ dollars to make a deposit on the online casino is easy. Find a casino site that accepts the NZ dollar and follow the process of making an online transaction. There are no special guidelines for using the NZ dollar. BE careful while picking the casinos and find a safe transaction gateway that accepts your debit cards, credit card, and e-wallets.

There is usually a minimum deposit fee for making each transaction. There might also be a maximum deposit fee under the policy of responsible gaming. The platforms will also provide bonuses and promotional offers to users who make a transaction. Different payment methods may have different limits based on their accessibility.

History of NZ Dollar

The New Zealand Dollar (NZ Dollar) is the national currency for New Zealand that was introduced in 1967. Before that, New Zealand has NZ Pound and Pound Sterling before that. Even while being a part of the Commonwealth, NZ maintains its own currency. It operates in New Zealand, Pitcairn Islands, Cook Islands, and Niue. NZ dollar offers a low exchange rate to other currencies, making it beneficial in the forex market as well. NZ dollar is among the top 10 traded currencies in the forex market.