South Africa Sets New Gambling Revenue Record with ZAR59.3bn in 2023-24
Sports betting led the surge, contributing ZAR35.91bn, or 60.5%, of the total gambling revenue—a 51.2% increase from the previous year.
Gross gambling revenue in South Africa soared to an all-time high of ZAR59.3bn (£2.58bn/€3.07bn/$3.37bn) for the 2023-24 financial year, driven by record-breaking player spending. This figure represents a 25.7% increase from the previous year's record of ZAR47.12bn, as reported by the National Gambling Board for the 12 months ending 31 March 2024.
Sports Betting Dominates Market Growth
Sports betting led the surge, contributing ZAR35.91bn, or 60.5%, of the total gambling revenue—a 51.2% increase from the previous year. Online betting was a major driver, generating ZAR28.97bn and accounting for 49% of the overall market revenue in 2023-24. Currently, online sports betting is legally permitted in the Northern Cape, Western Cape, Mpumalanga, Limpopo, and North West provinces.
Retail betting added ZAR6.94bn to the total, making up 19% of sports betting revenue and 11.7% of the overall market.
Other Gambling Sectors Show Little Change
While sports betting experienced significant growth, other gambling sectors remained relatively flat. Retail casino revenue reached ZAR17.36bn, only a 0.1% increase from the previous year, maintaining its position as the second-largest revenue source.
Limited payout machines (LPMs)—with capped bets and prizes—generated ZAR4.15bn, marking a 1.9% decline year-on-year. Meanwhile, bingo saw a modest rise in revenue, up 2.4% to ZAR1.89bn.
South Africa's record-setting year underscores the dominant role of sports betting in the country's gambling landscape, while other sectors showed limited momentum in comparison.
