Gambling has been an integral part of New Zealand culture for centuries. The first recorded
forms of gambling in the country date back to the 1830s, with horse racing and lottery games being the most popular forms of gambling at the time. Today, online gambling is a crucial industry to New Zealand's economy, with both the government and casual gamblers benefitting from the evolution of iGaming in the country. This article will outline the evolution of the gambling industry in New Zealand, along with addressing how online casinos have continued to explode in popularity in the country. It will also discuss the benefits of gambling to New Zealand society which are often overlooked, as well as the contribution of the industry to the local and national economy.

iGaming & its Impact on the New
iGaming & its Impact on the New Zealand Economy Pixabay

The evolution of online gambling in New Zealand

The true rise of online gambling in New Zealand began in the early 2000s with the signing of the Gambling Act in 2003. This gave regulation to the advent of this form of gambling. Over the years, the online gambling industry in New Zealand has grown exponentially, with a wide range of online casino games now available to players. Today, online gambling is a multi-million dollar industry in New Zealand, with gambling stakeholders benefiting from a stimulus in excess of $2 billion annually.

One of the main reasons for the growth of online gambling in New Zealand is the convenience and accessibility it offers to players. Online casinos allow players to gamble from the comfort of their homes, at any time of the day or night. Players no longer need to travel to a physical casino to play their favourite games, and they can access a wider range of games online than they would be able to in a physical casino.

However, another huge reason for the popularity of online gaming in New Zealand, is the fact regulations have not been updated for 20 years. This means that a lot of people gamble at offshore casino sites where there are little to no regulations. While the government does not benefit from this directly, it indirectly benefits from lucky casual gamblers who win money. Of course, the lack of updated regulations has been subject to criticism from certain sectors of New Zealand society.

The Benefits of gambling in New Zealand

While it is fair to say that gambling can have negative effects on individuals and society, it also has several benefits. Critics of the industry say it does more harm than good due to the
exposure to excessive gambling. However, only 0.2% of the adult population admits to problem gambling. Despite this small figure, the benefits of gambling often get diluted among the negative aspects of online gambling.

The gambling industry provides employment opportunities for thousands of people, including those who work in casinos, sports betting companies, and lottery organizations. Gambling also generates revenue for the government, which can be used to fund various public services and initiatives.

In addition, the gambling industry in New Zealand supports various charitable organizations and community groups through donations and sponsorships. For example, the New Zealand Racing Board, which oversees horse racing and sports betting in the country, distributes a portion of its profits to various community groups and organizations.

Contributions to the New Zealand economy

Online casinos have had a significant impact on the New Zealand economy. The rise of online gambling has created new opportunities for the government to generate revenue. Online casinos are required to pay taxes, which go towards funding public services such as healthcare, education, and infrastructure development.

The online gambling industry has also created new job opportunities in New Zealand. Online
casinos require employees to run their operations, including customer service, marketing, and technical support. According to a report by the Ministry of Business, Innovation, and
Employment, the gambling industry provides employment to over 10,000 people in New
Zealand.

Furthermore, online casinos have boosted the tourism industry in New Zealand. Many online casinos in the country offer games that are unique to New Zealand, such as pokie machines with Maori and Pacific Island themes. These games have attracted tourists from all over the world, who are interested in experiencing the country's culture through gambling. The online gambling industry has also led to the growth of other industries, such as hospitality and transportation, which have also contributed to the country's economy.

Conclusion

The industry has created new job opportunities, generated revenue for the government, and
boosted the tourism industry. However, it is important to note that gambling can also have
negative effects, such as addiction, driving people into crippling debt, and sometimes crime.
Therefore, it is crucial for the government to update regulations for the industry and implement measures to ensure that Kiwi gamblers are protected from black market casino sites. Overall, the online gambling industry has played a significant role in the New Zealand economy, and it is expected to continue growing in the future.