New Zealanders are known as one of the most passionate players, and the industry is well-developed in the country. Locals engage in online entertainment portals or visit brick-and-mortar establishments to enjoy an adrenaline rush and try high-quality games.
However, the broad accessibility of this risky entertainment provokes particular dangers, including compulsive behaviours on digital platforms with risky games. This is a complex problem that doesn’t have one particular solution, so multiple institutions in NZ and beyond work on creating appropriate mechanisms to decrease addiction rates in the country.
While regulatory bodies implement stricter control over the industry, financial institutions also contribute to the population’s well-being. Westpac NZ, one of the leading online banking providers popular among Kiwis and Aussies, has recently launched a block aiming to minimise the harmful impact of this entertainment on separate individuals and the nation as a whole.
Managing Gaming Habits in New Zealand
Playing online games is a widespread activity in New Zealand, with approximately 80% of the population participating in various forms of games. The convenience and variety of games offered by leading NZ-based online platforms have fueled their significant rise in popularity, with enticing bonuses and benefits further attracting players.
Statistics from the Ministry of Health indicate that a significant portion of individuals involved in remote wagering sites are at risk of developing compulsive disorders caused by risky games. Such statistics are alarming, which is why responsible bodies integrate stricter rules and regulations.
Westpac NZ also aims to provide users with a more transparent and secure online landscape. The recent block on all transactions from debit and credit cards makes it impossible to transfer money to any site offering games of chance. It’s possible to activate this feature voluntarily, but it’s important to consider that only cardholders or third parties, like their attorneys, can make this decision.
Details of The Block by Westpac NZ
Engagement in risky games is dangerous, and the broad presence of this entertainment in the digital world increases the level of danger. Users can access the chosen entertainment platforms with a few clicks and have barely any limitations from operators.
The latest Westpac NZ block can help players control their spending on gaming platforms and completely ban the depositing option if noticing the first addiction signs. Many people find it hard to control expenses in gambling, and here, the payment provider’s new feature comes in handy.
A user should request the block, and the application will be approved within five working days. After that, it will be impossible to proceed with any transactions related to risky entertainment. The ban works for three months after the request confirmation; during this period, users can take time for treatment and develop healthier habits.
Benefits of the New Westpac’s Ban
The most evident advantage of this block is that it provides users with the chance to eliminate overspending and keep track of their spending. The system was implemented in March 2024 and is still being assessed by the company. Even though it’s pretty early to talk about the efficiency of the Westpac NZ ban, this solution seems beneficial for users.
Managing risky entertainment habits independently is complicated for many players, and additional assistance is the best choice. Westpac NZ makes it impossible for risk seekers to proceed with deposits, which decreases the possibility of compulsive playing and overspending. Such policy complies with leading helpline foundations playing a crucial role in providing support and resources to those affected by problem gambling.
According to the company’s managers, the payment provider aims to minimise the harmful impact of risky entertainment on the population’s well-being and searches for ways to make the industry secure and fair. It’s worth noting that the ban only concerns transactions leading to online entertainment platforms, while individuals can continue using their Westpac credit and debit cards in other sectors.
Disadvantages of Westpac NZ Block
The system was launched recently, so it’s still being tested by banking services and online operators. Currently, the Westpac block only covers virtual gaming establishments marked. At the same time, Kiwis can still visit land-based venues without limitations or purchase lottery tickets offline.
It’s still unclear whether Westpac NZ will broaden its impact on brick-and-mortar establishments so passionate players and bettors can still find ways to get around restrictions.
Final Insight
Reports indicate that approximately 80% of New Zealand’s population takes part in risky games in one way or another. Moreover, according to the research conducted by the Ministry of Health, one in five individuals engaged in playing games of chance can suffer from compulsive disorders.
Gaining more control over the iGaming sector is trendy in 2024 among many countries by implementing additional measures to ensure customers’ well-being. While many users may be against any blockers restricting access to real-money gambling, the new Westpac system was designed to eliminate harm and help players develop healthy habits.
The ban is active for three months, after which customers can return to their usual activities, but with a responsible approach.
