WCBN Business Press
Sports Betting in Gauteng, Who's Doing It and How Much are They Betting
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Betting on sports in Gauteng has been legal ever since the statutory body the Gauteng Gambling Board was established with the amending of the Gauteng Gambling Act, No. 3 in 1995. In fact, it wasn’t until August 1996 that sports betting including horse racing betting was made legal in Gauteng. In the meantime the Act legalized other forms of gambling such as casino gaming, bingo and even manufacturing and supply of gambling equipment.
Fast forward 20 years, and today you can find lots of online casinos and sports betting sites (usually working as a combo) that serve players from South Africa. There are plenty of online casino reviews that tell where it’s good to play and where it isn’t. You can find more reviews here which shows how much the betting and gambling industry has evolved.
But, sports betting in South Africa is so big that some South Africans have even made it their livelihood. No matter how bad the economic conditions and in how bad situation people are, there will always be those that bet on sports. It’s the same many other countries in the world.
There are no official stats what is the average sports wager amount that the average South African makes when he bets in a sports betting shop or online sports betting site, but it surely ranges from the minimum of R7 up to who knows how much a high roller places on a single game or accumulator bet. However, the profile of the average sports bettor in South Africa ranges from 18 to a middle-aged man usually from the middle or lower social class.
It’s expected that the revenue from gambling should expand to R30.3 billion in 2019 with sports betting and especially horse racing betting as the dominant components. Betting on sports events in the past five years has accounted for 75% increase on the entire gambling market. For example, the gross revenue in 2014 was increased by 57.6% largely due to the FIFA World Cup that was held in Brazil the same year.
But, even when there aren’t any big competitions such as a World Cup, sports betting is incredibly popular among sports fans. The most attractive are the regular European football leagues and competitions that take place every year, but also the African leagues, North American basketball etc.
All of that has contributed to an increase of the number of operational sports betting shops with more than 18%. By 2018 a further increase in sports betting of 36.6% is expected due to the next FIFA World Cup that will be held in Russia. The annual rate by which sports betting is projected to rise is 12.5%, which will be equal to a R2.9 billion market share in 2019
Date Posted: 2016-02-26
Posted By: WCBN Business Press
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