In recent times sport betting has spread its tentacles across continents and regions of the world. The stake and odd industry has become a competitive giant with the enabling support of professional bodies. However, the sport betting industry in South Africa has exploded in the number of participants. This is majorly overwhelming because South Africa recognizably has the most advanced and cultivated market in Africa!
Well an apple never falls too far from the tree, South Africa has a very long history with sport betting than its counterparts. Although it was seriously frowned at by the government in 1673.
Right now, sport betting thrives in the South African climate. So here are some of the jaw dropping stats about the booming sports betting industry in South Africa.
- South Africa has become a sport betting giant of Africa with better organized and developed gaming systems.
- South Africa ranks as number one in the continent with an impressive turnover of about $2.33billion
- In the last ten years South Africa’s interactive sport betting average has grown by 21% annually.
- The South African government says that more than 50% of South African Adults play sport betting frequently.
- Before the pandemic South Africans placed bets worth billions of rands in horse racing, football and number games
- There are about 43 active licensed bookmakers in South Africa both retail and online.
- What exactly is the South African market betting on? Football and Horse racing have the highest bets.
The major cause of this sport betting upheaval in South Africa is the rise in the number of young people. Many young people are drawn to sports and are highly competitive. Especially sports like Football and Soccer. Also technology has made it a lot easier with the presence of the internet. Majority of individuals who place a bet have never physically gone to any sports betting center. So we can confidently say that the internet has been a major boost in the growth of the sport betting industry in South Africa.
Most of the participants in South Africa who placed a bet are between the age of 18-40 meaning that the unemployment problem is another factor that has elevated the rise of the statistics.