Around 40% of working South Africans are now gambling frequently to help cover monthly shortfalls
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At least 40% of working South Africans are now gambling frequently to help cover monthly shortfalls and supplement their income as financial pressure continues to rise in households across the country.
This, according to new data from Old Mutual Corporate, revealed that gambling activity is increasingly being used by some employees as a way to cope with rising financial strain, with cost-of-living pressures continuing to weigh on household budgets.
“What we are seeing is a society under strain. Short-term relief is consistently winning over long-term security because many employees simply do not have the financial reserves they need to cope.” Keri-Lee Edmond, Head of Business Intelligence at Old Mutual Corporate, said.
“This is no longer an individual challenge. It is a workforce-wide issue that employers need to factor into how they support their people.”
The report also notes that "at a national level, StatsSA estimates that more than half, as much as 55% of what is classified as recreational spending, is directed towards gambling activities".
“Our research shows that for many South Africans, this is no longer just about recreation or entertainment. Individuals are gambling to meet daily needs and expenses, pay off debt, or in an attempt to secure higher incomes. Statistically, we know this is not a sustainable way to improve financial outcomes," Edmond added.
Last year, IOL also reported that South Africans wagered R1.1 trillion on betting activities during the 2024/25 financial year, fuelled largely by the rise of mobile betting apps that have turned gambling into a daily habit for millions.
According to the National Gambling Board (NGB), gambling in the country is on the rise, with over R1.5 trillion spent across all gambling activities, a staggering R400 billion increase from the previous year alone.
"Employees need support that helps them manage immediate financial pressure while also building long-term stability,” she said.
“Employers can make a meaningful difference by offering responsible benefit flexibility, alongside timely and targeted financial guidance that helps employees make confident decisions at key moments.”
IOL Business
mthobisi.nozulela@iol.co.za