The South African betting industry in 2024 is enjoying a boom like no other. As prefaced by the National Gambling Board (NGB) – responsible for oversight and regulation of the business – publishing its latest statistics last week.
According to reports from Daily Investor, the South African betting industry took R1.1 trillion in wagers over the last financial year. Suffice to say, the industry is growing exponentially and the big players within the business are making billions in profit as a result.
SOUTH AFRICAN BETTING INDUSTRY IN 2024
Delving into the statistics a little deeper:
- R1.1 trillion wagered is a 40% increase over 2023.
- Total Gross Gambling Revenue (GGR) amounts to R59 billion, a 25.7% increase.
- Betting (as opposed to gambling) generated 60% of the above revenue, at R36 billion.
- Revenue from bricks-and-mortar casinos constitutes R17.4 billion.
- Slot machines, or Limited Payout Machine (LPMs), generated R4.1 billion of GGR.
- Sports betting increased 51% relative to the previous year, making it the fastest-growing mode by some margin. R418 billion in sports bets versus R233 billion in 2022.
- 80% of sports bets are done online, requiring only a few clicks on a computer/mobile device.
WHICH ARE THE TOP BETTING SITES?
Hugely popular in the South African betting industry, Betway (part of Super Group), Hollywoodbets, SpinBet, SunBet dominate the online space and generate billions of rands each month. As you might imagine, the rapid rise of the South African betting industry is encouraging new players to leap into the market with both feet first, and pump millions into new platforms. For example, MultiChoice and Nigerian betting company KingMakers, is one such venture that invested billions into a new SuperSportBet platform aimed specifically at sports fans.
The bold new venture launched in January 2024 and has a unique tactical advantage due to its association with SuperSport. The brand has long been the best way to access live broadcasts of local and international sporting events. Although it’s still early days for SuperSportBet and KingMakers in South Africa – with the portal currently running at a loss – the company says it’s still establishing a market presence in a highly competitive ecosystem.
DO YOU ENJOY TO GAMBLE ONLINE?
Let us know by clicking on the comment tab below or by emailinginfo@thesouthafrican.com. Or WhatsApp your thoughts on this article to 060 011 0211. Don’t forget to follow The South African for the latest FREE-to-read content.
