Point of view: why gambling isn't the answer

Let’s talk straight: life in South Africa is financially brutal right now. Food prices are climbing, electricity is unpredictable, and jobs are scarce. For many, the pressure is relentless. So when gambling flashes its neon promises, quick wins, instant cash, a way out, it’s tempting. But here’s the truth: gambling is not a financial strategy. It’s a trap disguised as hope.

According to the National Gambling Board, South Africans wagered over R1.14 trillion in the last financial year. That’s not just a few Lotto tickets or a night at the casino; that’s a nation in distress. And it’s not just about entertainment anymore. The 2024 Old Mutual Savings and Investment Monitor found that 36% of gamblers say they do it to pay off debt or cover living expenses. Among low-income earners, that number jumps to 41%. That’s not fun, it’s survival.

But survival through gambling is a dangerous illusion. Take Sibongile Nkabinde, whose story was shared by IOL. In her twenties, she won R30,000 at Sun City and thought she’d found her lucky break. Instead, that win triggered a 20-year descent into addiction. “The thrill of the games, and the rush of more wins drew me in,” she says. Eventually, she was sleeping in petrol stations, estranged from her family, and financially destitute. Her story is not unique; it’s just one of many.

And it’s not just casinos anymore. Online games are flooding social media, targeting people with flashy wins and instant payouts. These platforms are designed to hook you. They show you the wins, never the losses. But behind every “I just won R5,000” post is someone who’s probably lost ten times that amount.

Rise Mzansi MP Makashule Gana has been vocal about the dangers. He warns that if South Africa doesn’t properly regulate the gambling industry and fully fund the South African Responsible Gambling Foundation, we risk losing a generation. And he’s right. The industry’s gross revenue jumped 25.7% to R59.3 billion in 2023/24. 

So what’s the alternative? Because let’s be honest, people aren’t gambling for fun anymore. They’re gambling because they’re desperate. But desperation doesn’t need to lead to destruction. There are better ways to cope with financial pressure, and they start with small, realistic steps.

Niresh Gopichand of Atlas Finance offers some practical advice:

• Don’t borrow to gamble. Loans are meant for emergencies, medical bills, home repairs, not bets.
• Join a stokvel. These community savings clubs offer discipline, support, and a safer way to build financial resilience.
• Speak to a debt counsellor. If you’re overwhelmed, debt consolidation or a formal debt review can help you manage repayments and avoid legal trouble. You need to be careful with this and do your research.
• Start an emergency fund. Even R50 a week can build a safety net over time. It’s not about how much—it’s about consistency.

Financial well-being doesn’t come from luck. It comes from planning, discipline, and support. Gambling promises a shortcut, but it can deliver a dead end. It’s time we stop romanticising the “big win” and start talking about the real cost.

If you’re struggling, know this: you’re not alone, and there are better options. Gambling won’t fix your financial problems. It will only make them worse.

Let’s choose smarter steps. Let’s protect our futures.

PERSONAL FINANCE