All You Should Know About Sports Betting in New Zealand

Sports betting, in the form of placing bets on the outcome of sports events, has been around since ancient times, so long that no one really knows when and where it originated. What we do know is that sports betting has now evolved into a multi-billion-dollar industry that stretches all across the globe. In New Zealand alone, it’s estimated that sports betting generates over $1 billion in annual revenues, an impressive number considering that New Zealand only has about 4 million residents!

 

Is Sports Betting Legal in New Zealand

In general, gambling is not totally legal in New Zealand. The main areas of online gambling that are particularly legal include lotteries, sports betting, and horse racing. These are run by the New Zealand Racing Board’s Totalizator Agency Board, and you can have a peek here for sports betting sites.
The key to these exceptions is that the operator of these activities must have obtained a license from the Gambling Commission or the Internal Affairs Department.

Sports betting is illegal under two Acts: The Crimes Act 1961 (offenses committed outside NZ), and the Gaming and Lotteries Act 1977 (offenses committed within NZ). This means the only form of gambling that is legalized in New Zealand is that which is authorized by or under the Gambling Act 2003.

 

The Different Types of Sports Betting

Sports betting has become a huge business as people are willing to bet on any and every game. There are three types of sports betting: straight bets spread bets, and parlay bets.

Straight bets involve picking a team to win or lose the game, while spread bets involve picking the winning margin. Parlay bets involve picking multiple teams, with the winner being whoever wins the most games out of all their picks.

Most sportsbooks require that you pick at least two teams for your straight bet, while you only need one team if you’re playing a spread bet or a parlay bet. The odds on each type of bet vary depending on how likely it is that your team will win. If you think they have a high chance of winning, then the odds are going to be lower than if you think they have a low chance of winning.

 

The Different Ways to Place a Sports Bet

There are a few ways to place a sports bet, which can be confusing to some people. The most common way is to go through a bookmaker or betting agent and place your wager on the phone or online. There are also ways to bet at the track or even in bars, but these are less common. If you’re unsure about how the process works, you should consult with someone who is an expert on betting before you make your first wager.

There are many different kinds of bets that people can make on sports games and events. One kind of bet is called an over/under bet, where gamblers predict whether the total number of points scored by both teams combined will be over or under a certain number for each quarter (or other periods) of play.

 

What Are the Chances of Winning?

One thing that you should understand about betting on sports is that the odds are always against you. Even if you do your research and find out what team is more likely to win, there’s still a chance of losing. The only way to guarantee winning any bet is by placing a wager on something with 100% probability, which doesn’t exist in this world.

If you’re looking for a way to know how much money you’ll have at the end of the day after placing bets on different sporting events, then it’s important to know how many units each type of bet costs. For example, a $100 bet would cost 10 units, so if you place ten $100 bets on ten different games, that would cost 1,000 units. And don’t forget – even if you lose every single one of those bets, your bankroll won’t be completely empty because each unit has an assigned value. For example: 5/1 odds means that one unit will be worth five dollars in profit.

 

What Are the Odds and How to Calculate Them?

Betting odds are the likelihood of a particular outcome occurring. There are different ways to calculate the betting odds and you can find them on any online sportsbook website. The most common way to calculate betting odds is by using what is known as the moneyline. Essentially, this is just a matter of taking the total amount of money placed on one side versus the other and dividing it by 2. So if $100 was bet on Team A and $200 was bet on Team B, then you would divide $300 (the total money bet) by 2 which gives you 150-to-1 betting odds. This means that there’s a 1/150 chance that Team A will win; or put another way, there’s an 149/150 chance that Team B will win.

 

How to Choose a Sports Bookie

There are many factors to consider when choosing a sports bookie. In order to make the most informed decision, you’ll want to think about how much money you’re willing to bet, what type of odds and payouts you prefer, and what other services they offer.

We’ve compiled some information that will help you choose the best sports bookie for your needs:

1) Are they authorized under the Gambling Act 2003?
2) How much money are you willing to bet? A good starting point is to decide on a monthly budget for betting.
3) What type of odds do you prefer? Some people like betting on live odds where the odds change with every play in a game, while others may prefer fixed odds where the line doesn’t change during the game.
4) Does the bookie offer bonuses?

 

Conclusion

It’s been our pleasure to provide you with all the knowledge you will need in order to be a successful sports bettor. We hope that this guide has answered any and all of your questions, and wish you the best of luck!