South Africans Bet R418 Billion on Sports: The Numbers Behind the Surge

South Africans have taken their passion for sports to a whole new level, placing an astounding R418 billion in bets over the past year. This marks an 80% jump from the R233 billion wagered in the 2021/22 period, reflecting a significant increase in the country’s betting landscape.

According to a report by The Outlier, the trend towards online sports betting is particularly noteworthy, with approximately 80% of bets being placed via the internet. The convenience of making wagers with just a few clicks on a computer or mobile device has revolutionized the industry, making betting more accessible than ever.

The figures presented are staggering, and it’s important to note that the total value of bets far exceeds the actual revenue generated. This is because these numbers don’t take into account the payouts, and many winnings are often reinvested into further bets, creating a cycle of continuous betting.

The online betting scene in South Africa is dominated by major players like Betway and Hollywoodbets, who not only lead in market share but also in advertising and sports sponsorship. Their strong presence in the market is evident in their widespread branding and involvement in various sports leagues and events.

Adding to the competitive landscape, a new contender has entered the market. SuperSportBet, a partnership between Nigerian betting company KingMakers and MultiChoice, launched in January 2024. This newcomer is specifically targeting sports fans, aiming to carve out its niche in the rapidly growing online betting industry.

As sports betting continues to surge in popularity, the numbers are expected to grow, reflecting both the deep love South Africans have for sports and the increasing appeal of betting as a form of entertainment.