New Zealand Gambling Market Size

Online gambling is on the rise in New Zealand. Several factors that are behind the growth of the industry include technological advancements and the robust regulatory framework. Assessing Royal Panda Casino, as one of the few bustling platforms, can provide a further insight into New Zealand's burgeoning online casino market.

Here’s everything you need to know regarding the online gambling landscape in New Zealand.

Some Important Numbers

The statistics speak for themselves, and such statistics are, of course, the best indicators on how well online gambling is performing in New Zealand, provided these are the most pertinent statistics:

• 1.25 billion USD would be generated in 2024. • In 2024, volume in the online casino market is projected to be worth 640 million. • Penetration of the online gambling market in 2024 is anticipated at 10.7%. • The total number of online gamblers is expected to reach 697.2k by the end of 2029. • Average revenue per user should amount to US$2.21k in the year 2024. • An estimated annual growth rate of 5.58% means revenue is expected to grow to 1.64 billion USD by the end of 2029.

Any of the countless legitimate online casinos in New Zealand that are not licensed by the New Zealand Gambling Commission should inform the residents.

Although it is illegal for local businesses to set casino games, citizens are free to visit offshore casino sites. According to Sam Bernard, there is no law in New Zealand that prohibits playing in offshore remote online casinos. He further adds that if you are looking for a good selection of games, generous welcome bonuses, and reliable payment options, then you would be best placed by an online casino.

What’s Driving the Growth?

Many factors have contributed to the overall growth of the online gambling market, but arguably the most influential is simply the growing preference for online casino games.

Gambling is not something new-it's been existing for several centuries. Unlike before, wherein one had to go to a brick-and-mortar casino to play games, nowadays, thanks to technological advances in the 21st century, a person can play it without leaving his or her sofa.

Online gambling gives players the opportunity to enjoy a variety of games that, in combination with attractive bonuses and promos, make it an appealing activity.

Mobile gambling is yet another emerging trend contributing to the industry's growth. This is also making online gambling more accessible since players can play poker and roulette on the go depending on their device of choice, whether mobile phone or tablet.

In addition to being mobile gambling, another trend has captured New Zealand's gambling market--sports betting.

With an estimated worth of 235.46 billion US dollars, the worldwide sports betting and lottery market is a force to reckon with, and that too in a country with a strong sports culture. As many online casinos observed the immense potential in sports betting, several have included special sportsbook sections.

New Zealand’s Regulation of the Online Gambling Market

The country has a rather contradictory framework for online gambling, allowing online gambling but forbidding local companies to operate. This does not prevent them from providing player-related security whenever required.

The online gambling market of New Zealand is regulated by the Department of Internal Affairs. It is intended to enforce laws against offshore casino operators to build players' safe gambling experience.

The residents of New Zealand are well aware that the country has made an effort to protect them, thereby increasing their trust in the system. This further serves as a motivation for the citizens to participate in casino games, helping the market grow beyond all proportions.

The Economic Factor

New Zealand enjoys a vigorous economy and a very stable environment with decent salaries for residents and quality of life. This has made New Zealanders so much able to spend more time on activities like gambling, as they will not need to worry about all the basics in life.

But Kiwis are not the only ones that can indulge in casino games in the country; tourists do, too.

The country is tourism-oriented, as millions wash in every year. Some of them may even engage in online casino games while there, especially if they came from a gambling-restrictive area.

This boost to New Zealand's online gambling industry provides foreign visitors with one more thing to do while in this alluring country.