Online betting drives historic growth in South Africa's gambling sector
The Outlier website, referencing the National Gambling Board's annual report, reports that South Africa's gambling industry hit an all-time high in the 2022/23 financial year, generating a record-breaking R47.2 billion in revenue. This figure marks the highest revenue ever recorded for the sector.
The surge in revenue is primarily attributed to online betting, which now accounts for over half of the total gambling income. The shift towards digital platforms was significantly accelerated by the COVID-19 pandemic, as many gamblers turned to online options when physical casinos were forced to close. Currently, approximately 80% of sports betting in South Africa occurs online.
In contrast, traditional casino gambling has not fully rebounded to pre-pandemic levels. In the 2019/20 financial year, casinos contributed R18 billion to the industry. However, this figure plummeted to R9 billion during the pandemic. As of last year, casino revenue stood at R17 billion, still about 6% below the pre-pandemic mark.
The increasing accessibility of the internet and smartphones has further facilitated this trend, allowing bettors to engage in gambling activities without the need for physical locations.
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