Lotto fever grips New Zealand amid financial struggles and rising living costs – Editorial

Lotto promises the hope of a life transformed. Photo / Michael Bradley

Editorial

• Last weekend’s $30 million Powerball prize led to a surge in Lotto sales and queues.
• Lotto is seen by some as a get rich quick chance amid rising living costs and mortgage struggles.
• Nearly 70% of Lotto sales in 2022 were from the poorest half of the community.

Every Wednesday and Saturday night, Kiwis tune into the telly, Lotto tickets clutched in their hands, wishing their lives are the ones about to be transformed.

Last weekend’s $30 million Powerball prize saw Lotto fever grip the country. Sales surged and punters were warned to expect queues.

Why are New Zealanders so bewitched by dreams of striking it rich?

While Lotto parades itself as a bit of fun – its bright colours, catchy jingles and smiling host – it has become so much more: a beacon of hope.

For nearly 40 years, Kiwis have been pinning their dreams of financial freedom on the lottery.

As the prize pool has swelled, so have punters’ desperation as they battle the rising cost of living and struggle to achieve home ownership.

While OneRoof reported first-home buyers’ share of purchases in April and May was close to record highs, credit agency Centrix says the number of people falling behind in mortgage payments had hit levels not seen since 2017.

Lotto offers the fantasy of paying off the mortgage, helping whānau, or bringing a dust-covered dream to life.

A grandmother in Whitby, who last month won $17.2m, held on to the secret until her family got home – then started casually asking what would they do if they won, before telling them everything was possible.

She said the weight had lifted. She and her family had cried as they realised what the win meant for them.

Her tales and the others of lucky winners reinforce the faith that anyone can score the Lotto dream.

Yes, there is a collective greater-good element about Lotto. Last year, $343.5m in lottery profits were allocated to New Zealand communities – an increase of around $29.8m on previous years.

Minister of Internal Affairs Brooke van Velden lauded the profits as potentially having a significant and enduring impact on the lives of New Zealanders.

But what about the price on the individual level? The false hope?

The fact Kiwis are willing to dabble in something that can cost more than it dishes out – given the odds of winning are astronomically low – speaks volumes about the mood of the nation.

A red flag back in 2022 was that nearly 70% of Lotto shop sales were made in the poorest half of the community.

Lotto even said it needed to start closing some stores because it had too many in low-income areas.

The country’s leaders need to take stock. In a climate of financial angst and feelings of hopelessness, they need to step in and offer Kiwis hope that comes for free.

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