Political parties are calling for gambling to be sin-taxed in South Africa as the industry surges to a staggering R1.1 trillion [$59 billion] wagered in FY2023/24 – a 40.2% leap from the previous year. Gross gambling revenue also skyrocketed, increasing 25.7% to reach R59.3 billion [$3.2 billion].
But behind these booming numbers lies darker trends.
A recent Bettabets survey found that nearly half of gamblers do it in the hope of meeting rising living costs, like school fees and rent, with 70% gambling to supplement their income, not for entertainment.
Only 27% of those who win set aside part of their earnings for savings or investment, with most spending it immediately.
