South African gambling sector soars: R1.1 trillion wagered in 2023/24

The National Gambling Board (NGB) has released its audited statistics for the South African gambling sector for the financial year 2023/24, covering the period from April 1, 2023, to March 31, 2024. This report highlights significant growth in various gambling modes, including casinos, bingo, limited payout machines (LPMs), and betting on horse racing and sports.

During this financial year, a staggering R1.1 trillion was wagered across the industry, representing a 40.2% increase from the previous year. The gross gambling revenue (GGR) reached R59.3 billion, marking a 25.7% rise compared to FY2022/23. Notably, betting accounted for the largest share of GGR at 60.5%, generating R35.9 billion, while casinos contributed R17.4 billion (29.3%). The LPM sector followed with R4.1 billion (7.0%), and bingo generated R1.9 billion (3.2%).

The report indicates that betting experienced robust growth of 51.2%, while casinos saw minimal growth of just 0.1%. In contrast, the LPM sector faced a decline of 1.9%, and bingo's revenue grew by only 2.4%.

Tax collections from the gambling industry totaled R4.8 billion, reflecting a 19.2% increase from the previous year. Betting was the largest contributor to taxes, accounting for nearly half at 49.9%, followed by casinos at 36.5%, LPMs at 10.2%, and bingo at 3.4%.