South Africans are betting over R1 trillion each year: Why gambling has become so appealing in tough economic times.
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GUEST – John Manyike, Head of Financial Education at Old Mutual.
South Africans place over R1 trillion in bets annually, with R700 billion spent on sports betting alone. For many, particularly those with limited financial resources, the appeal of a big win can be incredibly tempting. However, the reality is often more complex. Instead of earning easy money, those who indulge in excessive gambling frequently face financial strain, says John Manyike, Head of Financial Education at Old Mutual.
South Africans place over R1 trillion in bets annually, with R700 billion spent on sports betting alone. For many, particularly those with limited financial resources, the appeal of a big win can be incredibly tempting. However, the reality is often more complex. Instead of earning easy money, those who indulge in excessive gambling frequently face financial strain, says John Manyike, Head of Financial Education at Old Mutual.
