Gross gambling revenue in South Africa hit a record ZAR59.3bn (£2.58bn/€3.07bn/$3.37bn) in the 2023-24 financial year, while player spending also reached an all-time high. Revenue was 25.7% higher than ZAR47.12bn in 2022-23, the existing yearly record for South Africa. The latest report from the country’s National Gambling Board covers the 12 months to 31 March
Atrocious gambling earnings in South Africa hit a file ZAR59.3bn (£2.58bn/€3.07bn/$3.37bn) within the 2023-24 financial twelve months, whereas player spending furthermore reached an all-time excessive.
Earnings modified into once 25.7% higher than ZAR47.12bn in 2022-23, the present yearly file for South Africa. The most modern sage from the nation’s Nationwide Gambling Board covers the twelve months to 31 March 2024.
Sports betting leads the system in South Africa
Sports betting modified into once another time by a ways the largest source of earnings, producing ZAR35.91bn, or 60.5%, of all earnings. That is 51.2% bigger than within the outdated twelve months.
Of this, ZAR28.97bn modified into once earnings from on-line betting, with the vertical accounting for 49% of total earnings in 2023-24. On-line sports actions betting is within the indicate time most effective correct within the Northern Cape, Western Cape, Mpumalanga, Limpopo and North West provinces.
Retail betting earnings for the twelve months amounted to ZAR6.94bn, accounting for 19% of all betting earnings or 11.7% of complete market earnings.
Earnings flat correct via other gambling varieties
The growth seen within the sports actions betting sector modified into once now not replicated in varied areas.
Retail on line casino modified into once the following largest source of earnings at ZAR17.36bn, despite the reality that this remained largely flat at 0.1% higher than within the outdated twelve months.
Restricted payout machines (LPMs) – gambling machines with a restricted wager and prize – drew ZAR4.15bn in earnings, down 1.9% twelve months-on-twelve months. The closing ZAR1.89bn in earnings came from bingo, a 2.4% twelve months-on-twelve months rise.
Player exercise reaches file ZAR1.14tn
Looking out now to how great consumers wagered, this amounted to ZAR1.14tn within the 2023-24 financial twelve months, surpassing final twelve months’s existing file of ZAR815.11bn by 40.2%.
Sports betting wagers reached ZAR761.26bn, accounting for 66.6% of complete wagers. In disagreement to earnings, the regulator did now not ruin this down correct via retail and on-line.
Avid gamers spent ZAR297.42bn gambling at casinos, representing 26% of all wagers in 2023-24. A additional ZAR53.74bn modified into once wagered via LPMs, or 4.7% of all bets, whereas bingo accounted for the closing 2.6% (ZAR30.27bn).
Western Cape advantages from on-line betting
Breaking down the market by province, Western Cape generated the most gambling earnings at ZAR18.79bn. This came from ZAR353.19bn in gamers bets, the 2d highest provincial complete in 2022-23. Western Cape is most effective one of a handful of provinces that allows correct on-line sports actions betting.
Gauteng, the most populous pickle of South Africa, placed 2d with ZAR13.10bn in complete earnings from ZAR173.7bn in bets. Mpumalanga drew the most wagers at ZAR359.34bn but ranked third in earnings terms on ZAR12.98bn.
As for tax, South Africa generated ZAR4.84bn within the center of the 12-month length. Of this, 50%, or ZAR2.41bn, came from sports actions betting, along with ZAR889m from on-line wagering.
Source: iGamingBusiness
