It is no longer news that the world of online gaming has gained fans from all over the world, but New Zealand beats all countries by having the maximum number of people involved in online gambling.
The gambling industry in New Zealand is a great entertainment source. Reports state that around 80% of New Zealanders engage in gambling activities.
The gambling market is regulated by the Department of Internal Affairs. They play an important role in managing the massive industry which expands each year. This industry is important for both people and the country’s economy.
The study found that bank transfers, Visa and Paysafe cards remain the most popular payment systems in terms of payment volume. It’s about creating a comprehensive gaming experience – you can learn about New Zealand gaming websites with payments here. Best paying online casinos always try to provide more methods to deposit and withdraw to improve the user experience.
Kiwis lose a significant amount in gambling. In 2016, New Zealand lost more than $843 million in pokies. In 2020, the loss amount increased to approx. $1 billion.
Department of Internal Affairs (DIA) says Kiwis increase their betting activities each year. They spent around $2.625 billion on lotteries, prize competitions, games of chance, and instant games in 2021.
The Covid-19 pandemic had a bad impact on New Zealand’s gambling industry. It caused the annual gambling profits to drop, resulting in major losses.
Despite these challenges, New Zealand’s gambling industry witnesses a large number of bettors, generating good revenue each year.
Here’s a breakdown of the numbers involved:
Gambling expenditure in New Zealand increases each year. Kiwis spend a good deal of money on gaming machines, such as poker machines outside casinos. These machines are found in every corner of the country.
Poker machines, or pokies, are found everywhere in the country. It makes an important part of their gambling culture. Pokies became popular after the government made gambling legal. Around 82% of poker machines are in clubs and pubs, and the rest 18% are in NZ online casinos.
Besides pokies, people also play other games such as lotteries, sports betting, scratch cards, race betting, and casino games. People show great interest and spend a lot of money to indulge in these games.
Kiwis never hesitate to spend money on pokies as they are addicted to it. These poker machines create false wins, pulling more people to play. To retain gamblers’ interest, these machines occasionally give out “free spins.” These winnings make players want to invest more money and the cycle continues.
Health Navigator New Zealand says, 49% of pokies players experience negative effects. Other 26% that bet on sports and race events also face the same problem. Despite gambling being a bad activity, people engage themselves in it.
Harm from gambling isn’t just about losing money. It also causes lower self-esteem, feelings of shame, increased alcohol consumption, hopelessness, and strained relationships with loved ones.
The online gambling industry in New Zealand is expanding and may cross $1.1 billion in revenue in 2024.
The market may expand at a 7.88% annual growth rate from 2023 to 2027. The worth of the online gambling industry should be $1.51 billion in 2027.
In New Zealand, more than 80% of people are into NZ dollar casinos. The interesting thing is that local online gambling is not legal in the country. TAB and Lotto NZ are the only two legal service providers.
Kiwis gamble online on foreign websites, making it hard for NZ’s Department of Internal Affairs to regulate it.
The country loses $140 million in online gambling each year because it is not regulated by the Department of Internal Affairs. Online gambling activities don’t contribute to the local economy because they take place on foreign sites.
Due to this reason, New Zealand is losing a lot of revenue. This is bad both for the country and its people. This can be solved by making online gambling fully legal in the country.
We’ve done our research on innovation and new developments in the gambling industry and have prepared the key talking points for you:
Gambling in New Zealand is an important social activity. People love to play and spend money on different gambling games. Despite gambling being popular, the country loses a lot of money each year. This is because online gambling is not fully legal in the country.
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