Figures show gambling losses continue at massively high levels

The latest gambling statistics show that the exposure of Kiwis to the last decade’s massively high loss levels has continued, says gambling issues group GamblingWatch.

Department of Internal Affairs “expenditure” (read: “loss”) figures just released for the year to June 30 2008, show that $2.034 billion was lost during the year – the 2nd worst year ever, almost eclipsing the record $2.039 billion lost in 2004, the year new ‘tighter’ gambling laws and regulations were brought in.

Of the $2 billion lost, by far the worst offending sector was the pub and club pokie machine sector, with $938 million lost out of an incredible $10.096 billion turnover. This still represents 91% of the pre-pokie restriction losses prior to new laws taking effect.

Casino losses – mainly on their pokie machines – came in 2nd worst at $477 million with lotteries ($346 million) and racing/sports betting ($273 million) lagging behind but all increasing.

“Far from being on the ‘wane’, as some media have suggested, gambling continues to bleed New Zealand for almost zero gain in return,” said GamblingWatch co-ordinator Dave Macpherson.

“And the facts show that the bleeding has not diminished in the last few years.”
“The graph below hardly looks like the so-called ‘love affair’ is over – perhaps it is more like we’re reaching saturation point.”

Legalised Gambling Losses 1984-2008
(in hundreds of $millions – statistics from Dept of Internal Affairs)

ENDS

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