Gambling in South Africa has reached unprecedented levels, now accounting for 1.6% of total household spending.
According to the National Gambling Board of South Africa’s latest annual review for 2023, gross gambling revenue soared to R59.3 billion in the 2023/24 financial year, marking a significant increase of 25.7% from the previous year and nearly tripling the R23.3 billion generated just three years ago.
Furthermore, a report by Old Mutual’s Savings and Investment Monitor reveals that 20% of gamblers have resorted to borrowing, using credit, or selling something to fund their gambling habits.
Nearly half of all working gamblers now play frequently, hoping to cover expenses or debt—a figure that has climbed sharply from 36% previously, the monitor showed.
The rise is driven almost entirely online.
