Africas Archives - Keno Wizard https://kenowizard.com/tag/africas/ The Ultimate Keno Destination for Odds, Tips & Tricks Fri, 11 Oct 2024 07:08:06 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://i0.wp.com/kenowizard.com/wp-content/uploads/2023/02/cropped-keno-wizard-icon.png?fit=32%2C32&ssl=1 Africas Archives - Keno Wizard https://kenowizard.com/tag/africas/ 32 32 230792155 South Africa’s Gambling Industry Sees Record Growth in 2023-24 https://kenowizard.com/2024/10/11/south-africas-gambling-industry-sees-record-growth-in-2023-24/ https://kenowizard.com/2024/10/11/south-africas-gambling-industry-sees-record-growth-in-2023-24/#respond Fri, 11 Oct 2024 07:08:06 +0000 https://kenowizard.com/2024/10/11/south-africas-gambling-industry-sees-record-growth-in-2023-24/ The South African gambling industry experienced unprecedented growth during the 2023-24 financial year, with gross gambling revenue (GGR) reaching an all-time high of ZAR59.3 billion, a significant 25.7% increase from the previous year. This marked a milestone for the industry, driven largely by the explosive growth of the sports betting sector. According to the National [...]

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South-Africa-gambling-revenue-reaches-record-ZAR59.3bn-in-2023-24The South African gambling industry experienced unprecedented growth during the 2023-24 financial year, with gross gambling revenue (GGR) reaching an all-time high of ZAR59.3 billion, a significant 25.7% increase from the previous year. This marked a milestone for the industry, driven largely by the explosive growth of the sports betting sector. According to the National Gambling Board’s (NGB) latest report, total turnover—the amount wagered—also hit new heights, surpassing ZAR1.14 trillion, a 40.2% increase compared to ZAR815.11 billion in 2022-23.

Betting Takes the Lead

The most significant contributor to this growth was sports betting, which accounted for 60.5% of total GGR, or ZAR35.91 billion. This was a staggering 51.2% rise from the previous year. The overwhelming majority of betting revenue came from online platforms, which generated ZAR28.97 billion, making up nearly 49% of the overall GGR. In contrast, retail betting contributed ZAR6.94 billion, representing 19% of betting revenues.

Sports betting’s dominance highlights a clear shift in South Africa’s gambling landscape, with over 80% of betting revenues coming from online sources. The sector’s growth was fueled by increased access to online betting platforms in select provinces, including Western Cape, Mpumalanga, Limpopo, and North West.

Uneven Growth Across Other Gambling Sectors

While sports betting thrived, other forms of gambling showed stagnant or declining growth. Retail casinos remained the second-largest contributor to GGR, bringing in ZAR17.36 billion, but growth was minimal at just 0.1% year-over-year. Limited Payout Machines (LPMs) saw a slight decline in revenue, falling by 1.9% to ZAR4.15 billion, while bingo experienced a modest increase of 2.4%, generating ZAR1.89 billion.

This unbalanced growth underscores the challenges faced by land-based gambling operations, which have been overshadowed by the surge in online betting. The ongoing shift away from traditional forms of gambling, such as casinos and LPMs, is reflective of broader global trends favoring digital and online platforms.

Regional Performance: Western Cape Takes the Lead

Geographically, the Western Cape emerged as the top-performing province, generating ZAR18.78 billion in total gambling revenue. This was primarily driven by the province’s strong online betting market, which attracted ZAR353.19 billion in wagers. Gauteng, the most populous province, ranked second with ZAR13.10 billion in revenue from ZAR173.7 billion in bets. Interestingly, Mpumalanga led in total wagers, recording ZAR359.34 billion but ranked third in overall revenue, bringing in ZAR12.98 billion.

The Western Cape’s dominance in the market can be attributed to its robust regulatory framework supporting online sports betting, giving it an edge over provinces that rely more on retail and land-based gambling operations.

Tax Contributions and Market Outlook

The gambling industry also made a significant contribution to government revenues. Taxes and levies collected from the sector totaled ZAR4.84 billion, a 19.2% increase from the previous year. Sports betting alone accounted for half of this figure, contributing ZAR2.41 billion, with ZAR889 million coming from online wagering.

Source:

National Gambling Statistics Financial Year Ending 31 March 2024 – Audited, [pdf]

National Gambling Board, 2024.

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