Increasing internet penetration, digital awareness, and the Covid-19 breakout are some crucial factors that transform almost every sector towards digitalization. Nowadays, a person sitting on a beach, office, at home or on holiday home can bet with the help of the internet. This ease of gambling from anywhere boosted the sector's growth rate in the entertainment industry.
New Zealand's unregulated online gambling space has increased from $139.3m to $332.6m between 2014 and 2020 and is anticipated to hit $600 million by 2025. The increase represents a compounded annual growth rate of 15.6 per cent. As per the gambling statistics, there are around 1.6 billion online gamblers globally. The global online gambling industry reached $231 billion in 2021. Several offshore companies are offering online casino games to the kiwis. If you are a merchant looking to start your online casino, then you need to obtain a casino payment gateway and online casino merchant account for payment acceptance.
Type of Payment Gateways
Basically, a payment gateway is classified into three different classes, and these are below noted:
How PayCly is the Best Payment Gateway for an Online Casino?
PayCly is the only casino payment processing company that facilitates you with specially crafted state-of-the-art, high-risk merchant account for online casinos. We offer you the lowest MDR in New Zealand and several pricing models so you can pick as per your business needs. We make it possible for you to accept payments using more than 100 different payment methods, including cryptocurrencies, bank transfers, ACH transactions, and credit or debit cards. In addition, PayCly uses state-of-the-art technology like fraud scoring, 2D/3D authentication, artificial intelligence, and others to offer the highest level of payment protection. We comply with PCI-DSS (level 1) highest level certification rules. The following are some of our most admirable characteristics:
Frequently Asked Questions (FAQs)
Do I also need a Casino Merchant Account along with a Payment Gateway?
Yes, as we mentioned early, a payment gateway just serves as a link between your merchant account and the payment page. A casino merchant account is a business bank account that enables you to accept, hold, and withdraw funds that you receive from your players (customers/gamblers). With a casino merchant account, you can accept payments from clients all around the world if you run an online casino. It enables you to accept payments in various currencies and payment methods.
Is online gambling legal or illegal in New Zealand?
The currently operating gambling act was created in 2003 in New Zealand when the internet was not so popular. Lawmakers were unaware that internet penetration would reach this level in a short time. As of now, only two (those who were licenced earlier), Lotto NZ and the TAB, are domestic legal websites facilitating online casinos in the country. It is legal for Kiwis to gamble on offshore websites. The easiest way to start your online casino is to start with an offshore online casino with the help of PayCly’s payment gateway.