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South Africans spend R257bn on gambling

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Johannesburg - South Africans betted R257.6 billion on gambling in 2011, according to a report by PricewaterhouseCoopers (PwC).

This equated to more than R8000 per adult, said Nikki Forster, PwC Gaming Industry leader for South Africa.

Overall turnover for all types of gambling rose by 10.6 percent in 2011 from 8 percent in 2010.

PwC said turnover was projected to increase at a 6.3 percent compound annual rate during the next five years to R349.6 billion in 2016.

Casino gaming revenue climbed steadily in 2011 and recorded its largest gain since 2007. It recorded a 7.3 percent increase in 2011, up from 6.3 percent in 2010.

Forster said casino gaming accounted for 81 percent of the gross gaming revenue in South Africa.

Sports betting made up 12 percent of the gross gaming revenue, with horse racing determined as the dominant component of the market. - Sapa

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