Airpoint Dollars aren't cash equivalent - Air NZ won't let you cash out AP$ to NZ$. Skycity allows you to cash out their chips to NZ$ cash.
Originally Posted by
SpannerSpinner
From the kiwibank Airpoints card T&Cs:
I can't see any reason why the purchase of Airpoints Dollars would be treated any different from gambling chips. Both are effectively cash equivalents.