South Africa Sets New Gambling Revenue Record for 2023-24

South Africa has broken its previous gambling revenue record, reporting a 25.7% increase over the ZAR47.12bn achieved in 2022-23. The National Gambling Board’s latest report, covering the 12 months ending March 31, 2024, reveals a booming betting industry, largely driven by sports betting.

Sports betting led the charge, generating ZAR35.91bn, which accounted for 60.5% of total gambling revenue. This marks a 51.2% surge from the previous year. Of the total, online sports betting contributed ZAR28.97bn, representing 49% of overall gambling revenue. Currently, online sports betting is legal only in a few provinces, including the Northern Cape, Western Cape, Mpumalanga, Limpopo, and North West.

Retail sports betting also performed well, bringing in ZAR6.94bn, or 11.7% of the total gambling market. This highlights the continued demand for both online and in-person betting options across the country.

Other Gambling Sectors See Little Change

While sports betting experienced tremendous growth, other sectors saw minimal changes. Casino revenue reached ZAR17.36bn, remaining nearly flat with just a 0.1% increase compared to the previous year. Limited payout machines (LPMs), which allow for small-stakes gambling, generated ZAR4.15bn, a 1.9% decline. Bingo, however, saw a slight boost, earning ZAR1.89bn, up 2.4% year-on-year.

Players in South Africa wagered a record-breaking ZAR1.14tn during the 2023-24 fiscal year, a significant 40.2% increase from the previous ZAR815.11bn. Sports betting led the way again, with ZAR761.26bn in wagers, accounting for two-thirds of total betting. Casino wagers followed with ZAR297.42bn, while LPMs and bingo accounted for ZAR53.74bn and ZAR30.27bn, respectively.

Western Cape emerged as the top province in terms of gambling revenue, generating ZAR18.79bn from ZAR353.19bn in player wagers. Gauteng, South Africa’s most populous region, ranked second with ZAR13.10bn in revenue from ZAR173.7bn in bets. Mpumalanga, despite drawing the highest amount in wagers at ZAR359.34bn, finished third with ZAR12.98bn in revenue.

In terms of taxes, South Africa collected ZAR4.84bn over the year, with half of that amount—ZAR2.41bn—coming from sports betting. Online wagering contributed ZAR889m to this total.

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