The Online Sports Betting market in New Zealand has been experiencing significant growth in recent years.
Customer preferences: New Zealanders have shown a strong interest in sports and gambling, making online sports betting a popular activity. The convenience and accessibility of online platforms have attracted a large number of customers who enjoy placing bets on their favorite sports events. Additionally, the rise of mobile betting apps has made it even easier for people to engage in online sports betting, as they can now place bets anytime and anywhere.
Trends in the market: One of the key trends in the online sports betting market in New Zealand is the increasing number of online betting platforms. With the growing demand for online sports betting, both local and international operators have entered the market, offering a wide range of options to customers. This has led to increased competition, resulting in better odds, promotions, and bonuses for customers. Another trend in the market is the diversification of sports available for betting. While traditional sports like rugby, cricket, and football remain popular, there has been a growing interest in niche sports such as eSports, MMA, and even virtual sports. This diversification allows operators to cater to a wider range of customer preferences and attract new customers who may not be interested in traditional sports.
Local special circumstances: New Zealand has a strong sporting culture, with rugby and cricket being the most popular sports in the country. This passion for sports creates a favorable environment for the growth of the online sports betting market. Additionally, the legalization and regulation of online gambling in New Zealand have provided a safe and secure environment for customers to engage in online sports betting.
Underlying macroeconomic factors: The growth of the online sports betting market in New Zealand can be attributed to several underlying macroeconomic factors. Firstly, the increasing internet penetration rate in the country has made online sports betting more accessible to a larger population. Secondly, the growing disposable income of New Zealanders has allowed them to spend more on leisure activities such as online sports betting. Lastly, the rise of digital payment methods has made it easier for customers to deposit and withdraw funds from online betting platforms, further fueling the growth of the market. Overall, the Online Sports Betting market in New Zealand is thriving due to customer preferences for convenience and accessibility, the diversification of sports available for betting, the country's strong sporting culture, and favorable macroeconomic factors. With the continued growth of the market, it is expected that online sports betting will remain a popular activity among New Zealanders in the coming years.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Gambling Revenue (GGR) and represent what consumers pay for these products and services.Modeling approach:
Market size is determined through a Top-Down approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is reweighted for representativeness.
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