Kiwi gamblers spend $2 billion

Last updated 14:14 25/03/2014

Relevant offers

Money

Sellers wait for a premium while buyers take their time: Realestate.co.nz NZ real estate listings get Chinese translation on sites like Hougarden.com Kiwis 'drowning in housing debt', Labour says after Statistics NZ figures Peer-to-peer marketplace Harmoney makes it easier for ordinary folk to turn lender Saving for a solid retirement isn't as hard as many KiwiSavers think House to sell at online auction with $1 reserve Beware 'heat not burn' tobacco devices, e-cigarette seller warns Ministry of Health Kiws feel wealthier and spending more as property values increase Review your insurances regularly When it comes to buying property, beware the Bridget Jones effect

Taking a punt on a sports game or lottery ticket is in our blood with gamblers in New Zealand spending just over $2 billion on the four main forms of gambling in the 2012/13 financial year.

That was $7 million more than the previous year.

Figures compiled by the Department of Internal Affairs revealed the popularity of TAB racing and sports betting increased from $283m to $294m (4 per cent).

Spending on NZ Lotteries products, such as Lotto and scratch cards, went from $419m to $432m (3.1 per cent).

Casino gambling expenditure rose 2.1 per cent from $509m to $520m, while spending on gaming machines in pubs and clubs dropped 3.3 per cent from $854m to $826m.

When adjusted for inflation, total gambling expenditure in 2013 had declined by almost 19 per cent from the peak recorded in 2004 ($2.56b inflation-adjusted).

The only form of gambling that did not see a drop in spending when inflation was taken into account over the past decade were Lotto products ($432m in 2013), with spending up 22 per cent since 2004 ($355m when adjusted for inflation).

An estimated $637m, or 31 per cent of expenditure, was distributed to a variety of community purposes from gambling proceeds.

Non-casino gaming machine trusts raised an estimated $290m for authorised community purposes.

NZ Lotteries transferred $202m to the Lottery Grants Board for community services and projects.

The New Zealand Racing Board allocated $142m, mostly to support racing club activities and infrastructure.

Casinos paid just over $3m to their community trusts. In addition, gambling operators pay a levy from their profits to meet the costs of an integrated problem gambling strategy - estimated to be $54m (GST exclusive) for the current 2013-16 levy period.

Ad Feedback

- Fairfax Media

Special offers

Featured Promotions

Sponsored Content