The 2023-24 monetary 12 months marked a interval of unprecedented development for South Africa’s playing business, with gross playing income (GGR) reaching a brand new peak of ZAR59.3 billion. This determine represents a considerable 25.7% enhance from the earlier 12 months’s ZAR47.12 billion, signaling sturdy business dynamics.
Unprecedented development in playing income:
According to the National Gambling Statistics FY2023/24 report(pdf) issued by South Africa’s National Gambling Board, the 12 months ending March 31, 2024, noticed playing revenues in South Africa exceed expectations throughout a number of sectors. Sports betting emerged because the dominant drive, contributing 60.5% of the whole income, which equates to ZAR35.91 billion, up by a powerful 51.2% from the earlier 12 months.
The sports activities betting sector’s important income was largely pushed by on-line platforms, which alone generated ZAR28.97 billion. This phase now accounts for 49% of the general playing income, highlighting a shift in direction of digital betting options. Interestingly, authorized on-line sports activities betting is restricted to only 5 provinces: Northern Cape, Western Cape, Mpumalanga, Limpopo, and North West.
While on-line betting soared, retail betting additionally held its floor with revenues of ZAR6.94 billion, making up 19% of the betting whole or 11.7% of the general market. In distinction, different areas of playing noticed extra stagnant development charges. Retail casinos barely elevated their income to ZAR17.36 billion, a modest 0.1% rise year-over-year. Limited payout machines (LPMs) and bingo sectors skilled combined fortunes, with LPM revenues falling by 1.9% to ZAR4.15 billion and bingo revenues climbing 2.4% to achieve ZAR1.89 billion.
Record participant spending:
The whole quantity wagered by gamers additionally surged to a file ZAR1.14 trillion, a 40.2% enhance from the earlier 12 months’s ZAR815.11 billion. Sports betting wagers dominated this spending, accounting for 66.6% of the whole at ZAR761.26 billion. Meanwhile, on line casino playing represented 26% of the wagers, amounting to ZAR297.42 billion, and the remaining stakes have been unfold amongst LPMs and bingo.
The Western Cape led the provinces in playing income with ZAR18.79 billion generated, largely because of its authorized on-line betting scene. Gauteng adopted with ZAR13.10 billion in income from ZAR173.7 billion in bets, whereas Mpumalanga noticed the very best wagering quantity at ZAR359.34 billion however ranked third in income era.
The playing sector additionally made important tax contributions, totaling ZAR4.84 billion for the 12 months, half of which originated from sports activities betting actions, together with ZAR889 million from on-line bets alone.
The board commented: “The gambling industry grew by 25.7 per cent between FY 2022/23 and FY 2023/24, however this growth was unbalanced between modes of gambling. Growth is now entirely driven by sports betting and other contingencies. In addition to high growth figures, the betting segment also expanded its market share to 60.5 percent of gross gambling revenue (GGR).”
