The growing online gambling industry in South Africa raises serious concerns regarding the financial well-being of young people. Experts note that even small and frequent bets can lead to significant financial strain, gradually depleting household budgets.
Industry Scale and Risks
According to the National Gambling Board (NGB), in the 2024/25 financial year, South Africans placed bets totaling approximately 1.5 trillion rand, with gross gaming revenue amounting to roughly 74.9 billion rand. Betting has become the largest segment of the industry, driven by the widespread use of smartphones, online platforms, aggressive advertising, and increasing economic pressure.
Financial consultants emphasize that the main risk for many young South Africans is not large losses highlighted in headlines, but the cumulative effect of relatively modest stakes. Amounts as small as 20, 50, or 100 rand, made repeatedly, can divert funds that could be used for transport, mobile internet, food, debt repayment, or savings.
Youth Financial Situation
Tshepo Kgapane, Product Lead at the free digital financial education platform Blackbullion South Africa, notes that when money becomes scarce, gambling can appear as a 'quick fix.' He warns that a 100 rand bet might be money intended for data, travel, food, or building an emergency fund. When repeated regularly, this turns into a serious financial leak.
These concerns are supported by the latest ZAKA index (2025) from Blackbullion South Africa, which demonstrates financial pressure on young adults across the country. The cost of living survey showed that 82% of South Africans aged 18 to 35 earn less than 6000 rand per month. Food remains the largest monthly expense for over half (51%) of respondents, with an equal proportion reporting daily financial stress. Kgapane reported that four out of five respondents are forced to skip meals or postpone important payments due to lack of funds.
Financial Management Tips
Kgapane argues that even moderate amounts can significantly change the situation with proper management. He gives an example: saving 100 rand weekly amounts to 5200 rand in a year before interest, which could cover job search costs, educational materials, transport, or build an emergency fund. If these 100 rand are spent on gambling, the most likely outcome is their loss, and the emotional reaction often prompts chasing losses.
Researchers are also concerned about the development of gambling models among young audiences. Wits University previously pointed to the growing presence of gambling-like mechanics in digital gaming environments, including virtual currencies, paid random rewards, reward cycles, and temporary purchase incentives. Financial specialists warn that such features can normalize gambling-like behavior long before young people realize the financial consequences of taking risks.
The Role of Financial Literacy
Leana de Beer, founder and CEO of WaFunda, believes that gambling cannot be viewed in isolation from the general financial difficulties faced by South African youth. She emphasizes that young people are trying to cope with a complex financial environment, and financial literacy plays a critical role here. Young people need the knowledge and confidence to recognize the risks of actions like gambling and understand the long-term impact of their financial decisions.
WaFunda is the exclusive partner of Blackbullion Global in South Africa, providing free financial education to youth through the Blackbullion platform. De Beer recommends that young people concerned about their habits take practical steps before gambling begins to affect their stability. These include tracking betting expenses via bank statements and e-wallet transactions, setting aside funds for necessities before payday, and removing easy access to gambling by deleting apps, removing saved payment details, and unsubscribing from promotional messages.
She also calls for using self-exclusion tools offered by licensed gambling operators, openly discussing problems with trusted friends, family, or advisors, and resisting the urge to chase losses. Support is available through the South African Responsible Gambling Foundation's National Responsible Gaming Program, which offers free confidential assistance 24/7 at 0800 006 008. De Beer concludes that they aim to better serve youth by understanding their financial realities to create tools and content that help them make more informed and confident decisions.