Gambling, as an activity, has found so much recognition and acceptance across the globe. As a result, many South Africans have found interest in it. As technological advancement keeps driving the modern age, several gambling sites have made their service available in the country. For this reason, this article is written to expose you to the growth of gambling and sportsbooks in South Africa.

The South African sports betting industry

There was a fair boost in the South Africa gambling revenues for the 2016 financial year, following a difficult operating environment. The general gambling proceeds gathered rose slightly by 3.9%, from an 11.2% rise in 2015. This was because of the deficit the gambling market experienced amid the precarious economic situation.

Betting comprises fixed-odds wagering on sporting events and horse racing and placing bets on the outcomes. The Gross Gaming Revenues (GGRs) increased by 14.3% in 2016, which improved its share of total GGRs to 19%. The ticket sales for the Gross lottery rose in 2016 and impacts made to the National Lottery Distribution Trust Fund from the sales of tickets increased to R1.37-billion.

Generally, as of the time of writing, the GGRs in the country are predicted to increase to R35-billion this year from R27-billion in 2016. Taxes and levies associated with gambling will keep increasing at a compound annual rate of 5.2%. Compare this with the US sportsbook industry, which according to Ark Invest, is set to rocket to $37 billion by 2025. As explained by the Basketballinsiders sportsbooks reviews, this is due to a spike in regulated betting sites – such as Barstool and HardRock.

Sports betting is on the rise

Several betting sites in South Africa offer sports and horse racing betting services to the citizens of the country. Sports generally has become a popular activity, not only in South Africa but across the far

reaches of the globe. The increase in sports events ensures that punters can place wagers on their favorite sports.

Besides these, the convenience of betting on the internet ensures that people can bet anywhere and anytime as long as they are connected to the internet. The availability of mobile devices also ensures that more people can interact with licensed online platforms that offer betting services. This also contributes to the general rise in the South African gambling industry.

Indeed, gamblers do not just gamble on sports events held within the country, but also on competitions in other countries. Also, there are so many online sports betting sites within the country and this meets the growing demands for their services. To many, sports betting is seen as a fun activity, while some see it as a source of income.

Also, the growth of the sports betting sector within the country ensures that the activity is properly regulated. Indeed, players must be protected from spurious sites and exposed to fair gaming environments. This makes licensing important. As the number of betting sites increase, regulators are charged with the responsibility of ensuring the legitimacy of the site. There are requirements that must be met before a license of operation can be issued.

Conclusion

As the rate of sports betting keeps increasing all over the world, it is only natural for focus to be placed on the present and future value of the industry. As a result, more South Africans are finding gambling on sports events an interesting activity to engage in. This has contributed to the fair increase in the revenues that the industry has experienced within the country. Yet, to ensure adequate safety, players are advised to gamble at licensed betting sites.