Sports Insights

Sports Betting raking in the money

download (11).jpg

Gambling revenues improved in Africa in 2014, despite challenging and weakening economies. Gross gambling revenues in South Africa posted their second-largest annual increase over the past five years, with casinos taking the largest share of this growth by rising 4.5% over the prior year. Overall, gross gambling revenues in South Africa rose by R2.1 billion in 2014. South African gross gambling revenues across most sectors of the market (excluding the National Lottery), are expected to expand from R23.9 billion in 2014 to R30.3 billion in 2019, a 4.8% compound annual increase.

These are some of the highlights from PwC’s fourth annual edition on the gaming industry entitled ‘Taking the odds: Gambling outlook for 2015 - 2019 (South Africa – Nigeria – Kenya)’ (PwC.com).

In South Africa, horseracing remained the dominant component of the sports betting market in 2014 at R1.9 billion compared with R1.6 billion for sports events. However, betting on sports events has been driving the market, accounting for 75% of the increase over the past five years. Gross sports betting gambling revenues increased by 57.6% in 2014, more than three times the 18.5% rise in 2013, largely reflecting the wagering associated with the FIFA World Cup held in Brazil during June and July 2014. In addition, an 18% increase in the number of operational bookmaker outlets contributed to the 2014 increase.

In 2015, it is anticipated that the absence of wagering related to the FIFA World Cup will have an adverse effect on the market. A further increase in sports betting of 36.6% is expected in 2018, associated with the next FIFA World Cup in Russia, followed by a modest 1.8% advance in 2019. Sports betting is projected to rise at a 12.5% compound annual rate to R2.9 billion in 2019.

comments powered by Disqus

This edition

Issue 10
Current


Archive


Leadshipsport 'Hennessy VSOP Privilege Limited Edition' product launch'. https://t.co/Ms1mPdI1i9 #launch #hennessy 0 years - reply - retweet - favorite

TLConvention Old Mutual taking the lead. https://t.co/yOv9SRP0H2 Launching young leaders. #OMTLC 0 years - reply - retweet - favorite

Leadshipsport The Soil will be playing at one of the upcoming events. Here is a taste of them. https://t.co/XeVULYUsoB #TheSoil #music 0 years - reply - retweet - favorite

  • Garba Mali
  • Teddy Mokoena
  • Jan Saunders
  • Neo Neoza Mkwanazi