The 2023-24 monetary 12 months marked a interval of unprecedented progress for South Africa’s playing trade, 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 strong trade dynamics.
Unprecedented progress in playing income:
Based on the Nationwide Playing Statistics FY2023/24 report(pdf) issued by South Africa’s Nationwide Playing Board, the 12 months ending March 31, 2024, noticed playing revenues in South Africa exceed expectations throughout a number of sectors. Sports activities betting emerged because the dominant pressure, contributing 60.5% of the entire 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 section now accounts for 49% of the general playing income, highlighting a shift in direction of digital betting options. Curiously, authorized on-line sports activities betting is restricted to simply 5 provinces: Northern Cape, Western Cape, Mpumalanga, Limpopo, and North West.
Whereas 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 progress charges. Retail casinos barely elevated their income to ZAR17.36 billion, a modest 0.1% rise year-over-year. Restricted 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.
File participant spending:
The full 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 activities betting wagers dominated this spending, accounting for 66.6% of the entire at ZAR761.26 billion. In the meantime, on line casino playing represented 26% of the wagers, amounting to ZAR297.42 billion, and the remaining stakes had been unfold amongst LPMs and bingo.
The Western Cape led the provinces in playing income with ZAR18.79 billion generated, largely attributable to 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 technology.
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 playing trade grew by 25.7 per cent between FY 2022/23 and FY 2023/24, nonetheless this progress was unbalanced between modes of playing. Development is now solely pushed by sports activities betting and different contingencies. Along with excessive progress figures, the betting section additionally expanded its market share to 60.5 p.c of gross playing income (GGR).”
