From Casinos To Smartphones - The Big Shift In South Africa's Gambling Market

Also known as "iGaming", revenues from internet-driven gambling channels such as sports betting, virtualised casino games and live dealer games grew by 26 year on year in the 2023/2024 financial year, with the broader African market projected to surpass the R205-billion mark by 2032 - representing a compound annual growth rate of 7.

This is according to the iGaming Trends 2025 report by Malta-based iGaming software supplier Softswiss . Now its third year, the report surveyed operators, game developers, technology providers, media professionals and affiliate marketers in North America, Europe, South America, the Asia-Pacific region and Africa.

"South Africa's iGaming market is growing due to mobile adoption and socioeconomic changes," said the report. "Operators have adapted by offering sports betting-compliant games, with local brands competing alongside global companies like Betway."

According to the report, sports betting represents the bulk of revenues, accounting for some 60 of the market, or R36-billion. Sports betting taxes contributed R2.4-billion to South Africa's national fiscus in 2023/2024.

Data from the National Gambling Board shows that over the past 20 years, the gambling sector has grown annual gross revenues from R8-billion in the 2003/2004 financial year to a whopping R59-billion in 2023/2024. Over the same period, market share has shifted away from physical establishments - dominated by casinos at 89 market share - to online sports betting, which has taken 69 of the market in 2023/2024, with casinos at just 29.