The 2023-24 financial year marked a period of unprecedented growth for South Africa’s gambling industry, with gross gambling revenue (GGR) reaching a new peak of 59.3 millones de ZAR. This figure represents a substantial 25.7% increase from the previous year’s 47.12 millones de ZAR, signaling robust industry dynamics.
Unprecedented growth in gambling revenue:
Según el organismo estadounidense National Gambling Statistics FY2023/24 report(pdf) issued by South Africa’s National Gambling Board, the year ending March 31, 2024, saw gambling revenues in Sudáfrica superar las expectativas across several sectors. Sports betting emerged as the dominant force, contributing 60.5% of the total revenue, which equates to 35.91 millones de ZAR, up by an impressive 51.2% from the previous year.
The sports betting sector’s significant revenue was largely driven by online platforms, which alone generated 28.97 millones de ZAR. This segment now accounts for 49% of the overall gambling revenue, highlighting a shift towards digital betting solutions. Interestingly, legal online sports betting is restricted to just five provinces: Northern Cape, Western Cape, Mpumalanga, Limpopo, and North West.
While online betting soared, retail betting also held its ground with revenues of 6.94 millones de ZAR, making up 19% of the betting total or 11.7% of the overall market. In contrast, other areas of gambling saw more stagnant growth rates. Retail casinos slightly increased their revenue to 17.36 millones de ZAR, a modest 0.1% rise year-over-year. Limited payout machines (LPMs) and bingo sectors experienced mixed fortunes, with LPM revenues falling by 1.9% to 4.15 millones de ZAR and bingo revenues climbing 2.4% to reach 1.89 millones de ZAR.
Record player spending:
The total amount wagered by players also surged to a record ZAR1.14 trillion, a 40.2% increase from the previous year’s 815.11 millones de ZAR. Sports betting wagers dominated this spending, accounting for 66.6% of the total at 761.26 millones de ZAR. Meanwhile, casino gambling represented 26% of the wagers, amounting to 297.42 millones de ZAR, and the remaining stakes were spread among LPMs and bingo.
La directiva Provincia Occidental del Cabo led the provinces in gambling revenue with 18.79 millones de ZAR generated, largely due to its legal online betting scene. Gauteng followed with 13.10 millones de ZAR en ingresos de 173.7 millones de ZAR in bets, while Mpumalanga saw the highest wagering volume at 359.34 millones de ZAR but ranked third in revenue generation.
The gambling sector also made significant tax contributions, totaling 4.84 millones de ZAR for the year, half of which originated from sports betting activities, including ZAR889 millones from online 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).”
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- Fuente: https://news.worldcasinodirectory.com/south-africas-gambling-revenue-soars-to-record-highs-in-2023-24-115521