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.