written and last updated by
Sam Smith at
09 Oct 2024
Journalist, Editorial Department
The National Gambling Board of South Africa has released its report on the industry’s performance for the 2023-2024 financial year. Over the 12 months ending in March 2024, the total gross revenue reached a record 59.3 billion rand (approximately $3.2 billion).
A significant contributor to this revenue was the casino sector, which generated 17.36 billion rand (around $950 million), reflecting a modest annual growth of 0.5%. Limited payout slots—gaming machines with capped bets and prizes—accounted for 4.15 billion rand (about $220 million).
The sports betting sector saw remarkable growth, with revenues soaring to 35.91 billion rand (approximately $1.9 billion), an increase of 51.2% compared to the previous year. Of this total, 28.97 billion rand (around $1.6 billion) came from online platforms, while 6.94 billion rand (about $380 million) was generated by brick-and-mortar bookmakers. The bingo sector also experienced a gross revenue increase of 2.4%, reaching 1.89 billion rand (approximately $100 million).
South Africans set a new record for gambling expenditures in the 2023-2024 financial year, spending a staggering 1.14 trillion rand (around $63 billion), which marks a 40.2% increase from 2022-2023. Specifically, South Africans spent 297.42 billion rand (approximately $16 billion) in casinos and 53.74 billion rand (around $3 billion) on limited payout slots. Sports betting expenditures reached 761.26 billion rand (approximately $42 billion), while bingo accounted for 30.27 billion rand (around $1.6 billion).
Among all provinces, the Western Cape recorded the highest share of gross gambling revenue, totaling 18.79 billion rand (approximately $1 billion). The total amount spent by residents in the region was 353.19 billion rand (around $19 billion). Over the course of the year, South Africa collected 4.84 billion rand (approximately $260 million) in taxes from the gambling industry.
Notably, a new bill has been introduced in South Africa aimed at regulating the iGaming sector.
