Gambling will not solve your debt problem and more often than not, it worsens it.
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MOST South Africans are not gambling more because times are good. They’re gambling more because money is tight.
South Africa’s gambling industry generated a record R75 billion in gross gambling revenue in 2024/25, while the betting segment alone had already grown dramatically from R8.8bn in 2019/20 to R23.7bn by 2022/23.
Concerningly, 39% of online punters say they are gambling more than they were a year ago according to Trade Intelligence research, while the National Responsible Gambling Programme (NRGP) recorded a 55% increase in people seeking help.
Perhaps even more concerningly, some consumers admit that they are now prioritising betting over essentials like groceries.
In an economy increasingly defined by rising food prices, mounting debt pressure, shrinking disposable income, and high unemployment — of which a large portion resides in the youth segment — online betting is increasingly being perceived as a shortcut to financial relief.
And that really should concern us.
The problem is not only the scale of online gambling; it’s also the mindset slowly forming around it — particularly among financially vulnerable consumers and younger South Africans increasingly exposed to betting culture online and among the adults in their lives.
And that is that it’s glamorous, easy and pays off fast. Social media is flooded with stories of overnight wins, “big hits”, and high-risk lifestyles. Casinos employ tactics to make wins seem even more alluring, with ringing bells and overtly luxurious surroundings.
Betting apps are available 24 hours a day. Deposits happen instantly. And when it comes to online gambling, there is almost no friction left in the process — a quick dopamine-inducing game, a smartphone and an “approve payment” tap on one’s banking app are now all it takes.
What gets forgotten in that environment is that gambling platforms are not designed to create financially secure consumers; they are designed to keep people playing. And the longer people chase losses, the worse financial decisions tend to become over time.
Understanding the dangers does not mean people will stop gambling overnight; realistically, many won’t. But if you intend on engaging in online betting anyway — despite knowing these risks — then make sure you heed the following to protect yourself financially.
This sounds obvious, yet it is often the first boundary to go out the window.
The moment gambling starts eating into essentials such as rent, transport money, groceries, school fees or debit orders, it stops being entertainment and starts becoming financially dangerous, as betting should never become part of a household survival plan.
One of the clearest warning signs is if you start increasing your betting amounts after losses in the hope of “recovering” money, because in reality, chasing losses is where financial harm usually compounds the fastest.
Borrowing money to gamble is one of the quickest ways to deepen financial instability. Whether it is credit cards, overdrafts, loans, or borrowed money from friends, family, or mashonisas, debt-funded gambling often creates a destructive cycle where consumers gamble not because they are enjoying it, but because they feel trapped and desperate to recover losses.
Remember: Gambling will not solve your debt problem and more often than not, it worsens it.
One of the biggest dangers of online gambling is the illusion of control. Occasional wins can create the belief that a bigger payout is around the corner, or that persistence will eventually “turn things around”. But gambling outcomes are built on probability, with the odds skewered in the platform or operator’s favour.
Realise that one — or even several — temporary wins are not a financial recovery plan, and walking away early is safer than chasing a payout that may never come.
According to H2 Gambling Capital, approximately one in every R6 is being spent with offshore operators that are essentially beyond the reach of South African regulators, meaning they pay no local tax and are unlikely to be invested in any South African consumer protections.
There are reportedly more than 2 000 unlicensed offshore gambling platforms targeting South African consumers.
This also means that if something goes wrong, you may have little to no protection or recourse at all.
Gambling problems rarely begin with dramatic collapse. Like the old adage about the frog in the pot of boiling water, they start gradually — with the danger often only becoming apparent once you’re in too deep.
Hiding betting activity from family members. Constantly checking betting apps. Increasing bet sizes over time. Gambling when stressed or anxious. These are all telltale signs of a growing addiction to watch for.
Part of what makes gambling appealing to some is the adrenaline – the feeling that one clever move could dramatically change your financial position.
But there is a big difference between calculated risk and reckless risk, and for those drawn to the idea of making their money “work harder”, there are healthier and more sustainable ways to channel that risk appetite.
This does not mean throwing your life savings into speculative investments or crypto trends overnight – rather, start small, stay realistic, and consult with a qualified professional, such as a financial adviser, who will partner with you to help you build and protect your financial dreams.
Because while a bet may offer the feeling of hope in the moment, financial security built on chance is rarely lasting financial security at all.
* Salem Nyati is a consumer financial education specialist at Momentum Group Foundation.
** The views expressed here do not reflect those of the Sunday Independent, IOL, or Independent Media.