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The New Zealand Lotteries Commission, trading as Lotto New Zealand since 2013, is a Crown entity that operates nationwide lotteries in New Zealand. It was established in 1987 and operates under the Gambling Act 2003. Its oldest and most popular game is Lotto, which boasts a top prize pool of NZ$1 million.
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The New Zealand Lottery Grants Board Te Puna Tahua is a business unit of the Department of Internal Affairs in New Zealand. [1] The New Zealand Lottery Grants Board is governed by the Gambling Act 2003. [2] Its purpose is to benefit the community by distributing the profits from state lotteries run by the New Zealand Lotteries Commission. [1]
Lotto New Zealand was formed in 1987 and replaced New Zealand's original national lotteries, the Art Union and Golden Kiwi. Lotto has four games: the Lotto (including Powerball and Strike), Keno, Bullseye, and Instant Kiwi scratch card games. Lottery winnings are not taxed in New Zealand.
In 1995, a Rewrite Advisory Panel was established to consider and advise on issues arising during the rewriting of the income tax legislation, as part of New Zealand tax reform arising from the Working Party on the Reorganisation of the Income Tax Act 1976. The panel was disestablished in 2014 at the completion of the tax reform.
Rank Jackpot Cash value Tickets Per ticket Game Date Location Notes 1 $2.04b $997.6m 1 $997.6m Powerball: Nov 7, 2022 CA: Largest jackpot for a single ticket; largest cash value for a single ticket.
Bookmaking was declared illegal in New Zealand in 1920. [2] From then until the introduction of the Totalisator Agency Board (TAB) in 1961, betting on racing was only available on-course. In 2020, the Racing Industry Act replaced the Racing Act 2003, establishing Racing Industry Transition Agency (RITA) to oversee the transition of the industry.