Salem Nyati | Specialist | Consumer Financial Education | Momentum Group Foundation | mail me |
Most South Africans are not gambling more because times are good. Instead, they are gambling more because money is tight.
South Africa’s gambling industry generated a record R75 billion in gross gambling revenue during 2024/25. At the same time, the betting segment alone grew sharply from R8.8 billion in 2019/20 to R23.7 billion by 2022/23.
Concerningly, 39% of online punters say they now gamble more than they did a year ago, according to Trade Intelligence research. In addition, the National Responsible Gambling Programme (NRGP) recorded a 55% increase in people seeking help. More worrying still, some consumers now prioritise betting over essentials such as groceries.
Gambling as a shortcut to financial relief
In an economy shaped by rising food prices, mounting debt pressure, shrinking disposable income and high unemployment, online betting increasingly appears to many people as a shortcut to financial relief.
A large share of unemployment also sits within the youth segment. These conditions continue to intensify online gambling financial risks for vulnerable consumers. And that should concern us.
The problem is not only the scale of online gambling. The deeper issue involves the mindset forming around it. This mindset appears particularly among financially vulnerable consumers and younger South Africans exposed to betting culture online and through adults in their lives. Many people now view gambling as glamorous, easy and fast-paying.
Social media platforms overflow with stories of overnight wins, “big hits” and high-risk lifestyles. Casinos also use tactics that make wins seem more appealing. Ringing bells and luxurious surroundings help create this effect.
Betting apps remain available 24 hours a day. Deposits happen instantly. Furthermore, online gambling now involves almost no friction. A quick dopamine-inducing game, a smartphone and an “approve payment” tap on a banking app are often all it takes. As accessibility increases, online gambling financial risks also continue to grow.
Gambling platforms are designed to keep people playing
What many people forget in this environment is that gambling platforms are not designed to create financially secure consumers. Instead, they are designed to keep people playing. Moreover, financial decisions often worsen over time as people continue chasing losses.
Understanding these dangers does not mean people will stop gambling overnight. Realistically, many will not. However, if you still intend to engage in online betting despite these risks, then you should follow certain safeguards to protect yourself financially and reduce online gambling financial risks.
Don’t bet money you can’t afford to lose
This advice sounds obvious. However, it is often the first boundary people abandon. The moment gambling starts consuming money meant for rent, transport, groceries, school fees or debit orders, it stops being entertainment. Instead, it becomes financially dangerous. Betting should never become part of a household survival strategy.
One of the clearest warning signs appears when people increase betting amounts after losses in the hope of recovering money. In reality, chasing losses is where financial harm often compounds fastest.
Debt and gambling are a dangerous mix
Borrowing money to gamble is one of the fastest ways to deepen financial instability. This includes using credit cards, overdrafts, loans, or money borrowed from friends, family or mashonisas (loan sharks).
Debt-funded gambling often creates a destructive cycle. Consumers then gamble not because they enjoy it, but because they feel trapped and desperate to recover losses. Remember this clearly: gambling will not solve debt problems. More often than not, it makes them worse.
If it feels like a financial strategy, pause
One of the biggest dangers of online gambling involves the illusion of control. Occasional wins can create the belief that a bigger payout is near or that persistence will eventually turn things around. However, gambling outcomes rely on probability. In addition, operators structure the odds in favour of the platform.
People should recognise that one win, or even several temporary wins, does not create a financial recovery plan. Walking away early remains safer than chasing a payout that may never arrive.
Offshore betting platforms create additional risks
According to H2 Gambling Capital, approximately one in every six Rands now goes to offshore operators. These operators sit largely beyond the reach of South African regulators. As a result, they pay no local tax and rarely contribute to South African consumer protections.
Reports also suggest that more than 2,000 unlicensed offshore gambling platforms currently target South African consumers. These unregulated environments further increase online gambling financial risks for consumers with little legal protection. This situation means consumers may have little or no protection if problems arise.
If you’re hiding it, it may already be a problem
Gambling problems rarely begin with a dramatic collapse. Instead, they often develop gradually, much like the old story about the frog in boiling water. People frequently only recognise the danger once they are already in too deep.
Warning signs include hiding betting activity from family members, constantly checking betting apps, increasing bet sizes over time and gambling when stressed or anxious. These behaviours often signal a growing addiction.
Channel high-risk appetite into healthier alternatives
Part of gambling’s appeal comes from adrenaline. Many people feel that one clever move could completely change their financial position. However, calculated risk differs significantly from reckless risk. People attracted to the idea of making money “work harder” should consider healthier and more sustainable alternatives.
This does not mean placing life savings into speculative investments or crypto trends overnight. Instead, people should start small, remain realistic and consult qualified professionals such as financial advisers. These advisers can help individuals build and protect their financial goals. Because while betting may create temporary hope, financial security built on chance rarely lasts.
