When it comes to gambling, the United States, Europe, and the UK are well-known for the popularity of the industry, whether you are thinking about online slots, lotteries, mobile gambling, or sports betting.
But what about New Zealand’s gambling industry? Is it failing, or doing well? Is online gambling becoming more of a trend in the island nation? Are New Zealand’s land-based casinos attracting customers or failing to make a profit? Read on to find out!
On the ascendent
Cast a cursory glance over the most recent data and it seems that the country’s gambling industry is going from strength to strength, channeling extra funds back into the industry and the wider economy.
In fact, according to New Zealand’s Department of Internal Affairs, the industry has experienced a significant 17% increase in revenue over the course of the previous year. Gambling-related spending in the country amounted to a sum of over US$1 billion, the highest it has been in the last 5 years.
Looking to the future, this rise in revenue is also expected to continue increasing by more than a fifth over the next 5years, indicating a positive future for the industry.
Where is the money going?
The biggest portion of the most recent gambling spending was spent on slot machines located in clubs and bars, as opposed to brick-and-mortar casinos, while the next most-popular sector is sports betting, which generated revenue of over US$260 million.
Lotto products were also generating more gambling spend, with an improvement of 10% from the previous year. New Zealand’s lotteries have a long and illustrious history, with its first national lotto being launched in 1932, with alluvial gold featuring among the potential prizes you could win.
But what factors lie behind this overall gambling increase and what does the future hold?
More people have been giving online gambling a go
One of the reasons for the ongoing boom in New Zealand’s gambling industry is undoubtedly the increase in online gambling the country has experienced. Although New Zealand itself currently has no online operators of its own, gamblers can access trusted international operators such as Rizk.com, as the country does allow its players access to overseas online casinos.
As a result, more and more Kiwis are discovering the enjoyment to be had from playing online slots and casino games. This increase is not surprising, given the various benefits of online gambling – for one thing, virtual casinos are usually more convenient than land-based options, and provide a much wider range of games to choose from, as well as generous welcome bonuses and a variety of regular promotions.
Looking to the future
With such promising figures to report, it seems undeniable that New Zealand’s gambling industry will only continue to grow and strengthen its position on the world stage.
While traditional gambling options such as lotteries and sportsbooks are likely to continue to draw dedicated punters, the online gambling sector is likely to continue to blossom too, thanks to the constant developments in technology and the increasing use of devices such as tablets and smartphones.
Although it is impossible to predict the future with any certainty, it seems possible that New Zealand’s gambling industry could soon rival that of Australia and the UK.