On October 9, the South African National Gambling Board unveiled a new statistical report revealing that the country’s gambling industry has hit unprecedented revenue levels of 59.3 billion Rand (roughly 23.77 billion RMB) for the fiscal year 2023-2024. This figure represents an impressive 25.7% increase compared to the previous fiscal year.

When it comes to revenue sources, sports betting has taken center stage, contributing a substantial 35.9 billion Rand, which constitutes 60.5% of total earnings and showcases an impressive year-on-year growth of 51.2%. Digging deeper into this segment, online betting accounted for 28.97 billion Rand, while retail betting added 6.94 billion Rand to the mix. It’s worth noting that online sports betting remains legal only in certain areas of South Africa, specifically the Northern Cape, Western Cape, Mpumalanga, Limpopo, and North West provinces.

Provincially, the Western Cape stands out as the leader in gambling revenue, generating approximately 18.7 billion Rand. Gauteng, being the country’s most populated province, brought in about 13.1 billion Rand in total revenue. Interestingly, Mpumalanga recorded the highest betting volume at 359.34 billion Rand, yet its revenue ranks third, totaling 12.98 billion Rand.

Additionally, industry insiders report that gamblers have been increasing their spending, with total bets soaring to a historic high of 1.14 trillion Rand for the 2023-2024 fiscal year, reflecting a remarkable 40.2% increase from the prior year.