The Casino Industry in New Zealand – Is It Good for Investors?

The casino industry in New Zealand has shown great promise. Many Kiwis like to gamble, and more number of them are trying their hand at online gambling every year. Although the country itself has about six land-based casinos, its online gambling industry is thriving.

Although, as per the New Zealand Gambling Act 2003, the country doesn’t allow its locals to start and operate local casinos in New Zealand, it allows casinos that are based in other countries. At present, Kiwis are allowed only to run online lottery games, online sports betting websites, and online horse racing wagering events.

There is a Significant Rise in the Number of Avid Gamblers

As aforementioned, because of the limited number of land-based casinos in New Zealand, most kiwis are turning to online gambling sites as an effective alternative because of the diverse range of online gambling game options. However, this doesn’t mean that there isn’t any demand for land-based casinos. It just happens to be a matter of travel and convenience.

New Zealand also has a vibrant tourism and hospitality sector, with more number of people coming every year to explore its rich landscape and terrain. Many top land-based casinos around the world even operate as highly successful hotels. Hence, if there is a rise in the number of land-based casinos, then the trend of gambling tourism can surely be expected.

Kiwis Don’t Have to Pay Taxes for Their Gambling Winnings

Another strong reason why online gambling is so alluring in New Zealand is that the government doesn’t typically levy any tax on gambling winnings. However, it does make it a point to levy tax on those who gamble professionally and do it for a living. Hence, this is another reason why investors should strongly consider paying close attention to the online casino industry in New Zealand, as it offers great prospects.

Kiwis Love to Play Lottery

Kiwis have always enjoyed lottery games. However, for a long time now, they have felt the absence or void of a national lottery. In order to meet this need for a national lottery, they find themselves looking at online casino websites and trying different lottery games.

Mobile Gambling is the New Rage

More kiwis are realizing and appreciating the high level of convenience offered through gambling on their smartphones. They usually expect high-quality online casino games on their phones without any lags. They also want plenty of bonuses and promotions to increase their bankroll and play in the long run.

Hence, there is undoubtedly an atmosphere of great competition among online casinos or game developers to provide the best service to the gambling community in New Zealand. This makes the New Zealand online gambling industry all the more conducive to an increase in investment.