SiGMA

S.Africa GGR recovery led by betting, limited payout machines

Posted: Oct 28, 2022 17:12 Category: Africa , Online , Sportsbetting , Posted by Sharon Singleton

South Africa’s gambling industry is recovering from the pandemic, but casinos and bingo revenues are still lagging.

Growth is being driven by betting and limited payout machines, with lockdowns driving a shift to online gambling, according to a ResearchandMarkets report.

Casinos and bingo have not yet recovered to pre-pandemic levels. 

“This trend is expected to continue, as the steady decline in the revenue market share of casinos has been going on for years,” it said. “New products and the borderless online environment bring direct competition to traditional gambling establishments and deprive the country of licensing and tax revenue.”

The report focuses on the gambling industry and covers factors including regulation, major players and developments. 

It found that the industry is growing, despite the poor economy, driven by online gambling and sports betting.

The popularity of horse racing has been declining in favor of sports betting, which centres on rugby, soccer and cricket. 

South Africa accounts for about 80 percent of the continent’s gambling industry. Gross gambling revenue from sports betting hit $600 million in 2020 and is thought to be growing fast. 

Join us: 14 – 18 November 2022 MALTA

One of the first European countries to regulate the gaming sector, Malta is a hub of global business. The island is an obvious choice for SiGMA’s presence in Europe and a strong foundation for the field’s future. With a plethora of prospects for both investors and entrepreneurs looking to shape the future of this multi-billion-dollar business, Malta Week will bring together industry giants among the affiliates, operators, and suppliers of the gaming sector.

 

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