What South Africa’s Gambling Surge Says About Our Economy
Loading player...
Guest- Frank Magwegwe - GIBS Faculty member and Head of Financial Wellness at Nedbank.
South Africa’s gambling habits are changing fast and the numbers are staggering. According to the National Gambling Board, the country’s total gambling turnover hit R1.5 trillion in 2024/24 which is a R400 billion increase from the year before.
What’s driving this boom isn’t casinos or bingo halls, but online betting platforms which have turned gambling into a click-away pastime for millions of South Africans.
But behind that surge lies a deeper story one about financial strain, economic desperation, and blurred regulation.
Research shows that six in ten gamblers now place bets online, often chasing extra income in an economy where real wages have barely moved.
South Africa’s gambling habits are changing fast and the numbers are staggering. According to the National Gambling Board, the country’s total gambling turnover hit R1.5 trillion in 2024/24 which is a R400 billion increase from the year before.
What’s driving this boom isn’t casinos or bingo halls, but online betting platforms which have turned gambling into a click-away pastime for millions of South Africans.
But behind that surge lies a deeper story one about financial strain, economic desperation, and blurred regulation.
Research shows that six in ten gamblers now place bets online, often chasing extra income in an economy where real wages have barely moved.
