South Africa’s Sports Betting Explosion
Sports betting has taken off in a major way in South Africa, with more than $61 billion in wagers and 40% growth compared to last year. That’s a massive growth industry and the industry is taking note.
The National Gambling Board of South Africa tracks all casinos, horse racing and limited payout machines in the country. It has reported huge growth to more than R1.1 trillion ($61 billion) in the fiscal year ending March 2024, which marks 40% growth over 2023’s R700 billion ($38 billion).
Sports betting has emerged as a dominant entertainment category, with two-thirds of online gambling going towards sports bets. Mobile phone and internet technology have played their part, to bring a constant stream of games and bets from around the world.
Massive advertising campaigns have forced sports betting into the public consciousness and it has become a part of modern life, with the brands competing for attention with TV advertising, as well as online campaigns.
Betway, Hollywood Bets and Sporting Bet South Africa currently lead the way when it comes to online sports betting, but a thriving market like this is going to bring competition. The South African sports betting market is significant, and this is still a relatively untapped market for virtual sports, esports and online casino betting.
