South Africa’s gambling sector hits R1.1 trillion in wagers for 2024
South Africa’s gambling sector has seen exceptional growth, with the National Gambling Board (NGB) reporting that South Africans bet a staggering R1.1 trillion between April 1, 2023, and March 31, 2024.
This figure illustrates a dramatic rise in the industry’s scale and influence within the country’s economy.
The gross gambling revenue (GGR) for the same period reached R59.3 billion, reflecting a significant 25.7% increase compared to the previous year.
Betting emerged as the dominant mode of gambling, contributing over half of the total GGR. Analysis shows that betting generated 60.5% of the GGR, amounting to R35.9 billion.
Casinos followed with R17.4 billion, or 29.3% of the revenue, while limited-payout machines (LPMs) brought in R4.1 billion (7%). Bingo contributed R1.9 billion, representing 3.2% of the total revenue.
Regionally, the Western Cape took the lead as the largest gambling market, accounting for 31.7% of the total GGR.
Gauteng and Mpumalanga were close contenders, contributing 22.1% and 21.9%, respectively.
This regional breakdown highlights the diverse participation across provinces.
The growth of betting, including sports and horse racing, dominated the market’s expansion. Betting revenues increased by an impressive 51.2% compared to the previous year.
On the other hand, traditional casino revenues showed minimal growth at 0.1%, while LPM revenues saw a slight decline of 1.9%. The bingo sector experienced modest growth, rising by 2.4% year-on-year.
Taxes and levies from the gambling sector contributed R4.8 billion to the government, a 19.2% increase from the previous fiscal year. This underscores the industry’s growing role in generating revenue for public coffers.
The latest figures from the NGB reflect a thriving and rapidly evolving gambling landscape in South Africa, with betting emerging as a significant economic driver fueled by technological innovation and changing consumer preferences.
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