South Africa’s gambling industry has reached unprecedented levels, generating a record R75 billion in gross gambling revenue for the 2024/25 financial year. However, the rapid expansion of online betting has raised serious concerns about addiction, youth exposure, and the country’s limited regulatory response. According to data presented by the National Gambling Board (NGB) to the Portfolio Committee on Trade, Industry and Competition, total gambling turnover climbed to R1.5 trillion ($86 billion) in 2024/25, compared to R1.1 trillion the previous year. The NGB attributed the increase primarily to the surge in online betting, which now represents 60% of South Africa’s gambling revenue. Online Betting Drives Record Growth The NGB’s figures show that betting—including online platforms—accounted for roughly 70% of the total, or R52.3 billion. Casino revenue reached R16.6 billion, representing 22% of the market, while the Limited Payout Machines (LPM) sector generated R4.1 billion. Bingo contributed R1.7 billion during the same period. Despite the strong performance of digital betting, the casino…Read MoreCategory: NewsSource: Casino News Daily