Reserve Bank flags gambling growth, but downplays consumer impact
The South African Reserve Bank notes a rise in online gambling but believes its impact on household spending is currently limited.Summary
The South African Reserve Bank (SARB) has observed a significant increase in online gambling activity within the country. Data from the National Gambling Board indicates that total bets placed reached approximately R1.5 trillion in the 2024/25 financial year, with online platforms now generating over 60% of gross gambling revenue. Despite this growth, the SARB’s analysis suggests that gambling still constitutes a relatively small proportion of total consumer expenditure. However, economist Xhanti Payi of Inani Strategies, speaking on The Money Show, cautioned that statistics from Stats SA do point to a growing problem with gambling, particularly among those without incomes. He noted that technology has made gambling more accessible, allowing individuals to gamble from their phones, and that this accessibility extends to people who are unemployed.
(Source：Ewn)