Online gambling business in South Africa
BY JOHN SAUNDERS AT 8:11 AM OCTOBER 23, 2018
INSIGHTS & ADVICE
Gambling is one of the oldest business in the world. It is one of the most profitable ones as well. South Africa’s web-based casinos, lottery, and sports betting constitute a significant part of the gambling revenue.
They are so profitable, in fact, that the worth of the richest people in the industry is measured in billions of dollars. They don’t deal in casino cabinets, like the gambling bosses of the old. Nor do they build land-based casinos. What they do is create online gaming platforms that gain popularity among gamblers from all over the world.
Keep reading, and you’ll find out what other major gambling businesses strive in South Africa.
Online sports betting
Online sports betting is very popular in SA. It is one of the few types of gambling that are legalised by the government. Places that allow people to place bets on sports are licensed by the authorities, and you can be safe when wagering.
The main appeal that sports betting has on people is that if you are passionate about sports, you can monetise your knowledge. Do you know all the recent transfers in your favourite football league? Can you predict what basketball team is going to win? Do you have the intuition that tells you what the score is going to be?
If that is the case, you can win quite a lot of money betting on sports. Especially so, if your gut tells you that the outsider is going to win. The odds are not in their favour, and you win significantly more if your team ends up on the top.
The other major factor that leads people to this kind of entertainment is that they can show support to their favourite team. The money these fans earn is but an additional factor. The main thing for them is to invest into the victory of the club or a player they support and to share their win or failure.
Online casinos
Online casinos are very popular despite their somewhat shady legal status. They constitute a significant part of the aggregate revenue in the gambling industry but don’t add to the country’s tax pool just yet because of the lack of regulation.
The adrenaline rush that you get when you wait for the reels to spin and show you your fate is what attracts people to online casinos. The possibility to win a jackpot is another factor that influences this kind of decision.
Apart from that, casinos games are just fun. The technology nowadays allows to create games with amazing graphics and animation. The best online slots are both cinematic and immersive.
Table games test your skills as well as your luck and generally mean playing against someone. More competitive players lean towards poker, bridge or baccarat.
Online lottery
The lottery is a simple concept. You invest a small sum for a slight chance of winning big. While there are small wins that you can get, it is the jackpot everybody is after.
Jackpots can grow as big as R60 million, so for many people, the price of the ticket is totally worth the chance of winning such a huge sum of money.