Gambling as a pastime has gained a lot of popularity and acceptance worldwide. In particular, it has piqued the interest of many South Africans. As the modern world continues to be driven by technological innovation, various gaming sites have opened their doors in the country. Today, there are dozens of top SA bookmakers you can choose to bet on.
The SA sports betting industry in numbers
Following a tough operating climate, gaming revenues in South Africa increased significantly in the 2016 financial year. The total amount of gambling proceeds collected increased by 3.9 percent in 2016, after rising by 11.2 percent in 2015. This was due to the gambling market's deficiency, created by the severe economic condition.
Still, in 2016, the Gross Gaming Revenues (GGRs) grew by 14.3 percent, bringing the share of total GGRs to 19%. The ticket sales for the Gross lottery also increased, bringing the total impact on the National Lottery Distribution Trust Fund to R1.37 billion.
What contributes to sports betting popularity in SA?
Varied sports events
Most online betting platforms in South Africa offer a variety of sporting events, ranging from soccer and horse racing to basketball and rugby. Add this to the obvious fact that there are thousands of these sports events happening all over the world daily, and you will realize why betting has become so popular in the country.
Youthful population
As per the United Nations (UN) data, South Africa has nearly 60 million people in their youthful age. It is good to note that young people are easily attracted by technological innovations, such as online sports betting.
Lenient sports betting regulations
When it comes to regulating sports betting sites, South Africa leads other African nations. The SA government has passed laws intended at controlling the betting market. Most importantly, the enacted legislations are friendly to both gamblers and betting companies.
These lenient laws have played a significant role in attracting several international online sports betting companies to set up shops across the country. The large presence of global players has obviously made the SA market very competitive.
Increase in mobile sports betting
Aside from that, the convenience of betting online ensures that punters can bet anytime and anywhere, provided they have an internet connection. The availability of mobile devices can also not go unmentioned. According to Statista, over 23 million South Africans own a smartphone, which they probably use to access online betting platforms.
The final take
The growth of online sports betting in SA is unlikely to slow down anytime soon. This is due to the fact that new bookies join the market each new day. What's more, the popularity of sports such as soccer and horse racing continues to rise. Thus, more and more people are expected to continue joining the online sports betting community.
