New Zealand gambling reaches record levels
Sports betting and horse racing are the main two gambling events
New Zealand has just stood out from the shadow of Australia in terms of customers gambling, with the news from the New Zealand Racing Board that their citizens spent an amazing NZ$1.96 billion ($1.31 billion) between July 2012 and July 2013. Most of the money wagered was in sports betting, horse racing and pokies (poker machines).
The New Zealand Racing Board which has the monopoly on gambling in New Zealand reported that profits for the year ending July 2013 were up 13.2%, representing NZ$144.1 million. As part of the Boards requisite of donating its profits back into the industry NZ$142 million will be ploughed back into horse racing to support the sector and NZ$5.7 million to increase sporting activities in the community.
“We’ve achieved these results despite increasing offshore competition, and a lack of major sporting events in 2012 and 2013 to offset the positive impact of Rugby World Cup in the prior year,” New Zealand Racing Board chairwomen Glenda Hughes said.
