Financial pressure is pushing millions of South African workers toward sports betting and online gambling, with many hoping a lucky win can help them meet daily expenses or escape mounting debt.
- Financial pressures are leading millions of South Africans to sports betting and online gambling for extra income.
- Over half of employed South Africans earning at least 8,000 rand per month rely on betting to supplement their finances.
- Lower- and middle-income workers are most affected, with many using gambling to bridge budget gaps.
- Old Mutual warns this trend is increasing financial vulnerability, with many reporting worsened financial difficulties due to gambling.
Financial pressure is pushing millions of South African workers toward sports betting and online gambling, with many hoping a lucky win can help them meet daily expenses or escape mounting debt.
According to Old Mutual’s Savings and Investments Monitor 2026, 53% of employed South Africans aged 18 to 65 who earn at least 8,000 rand ($477) a month now rely on betting as a source of extra income. About 42% said they gamble frequently, hoping to win enough money to bridge budget shortfalls.
Separate data by Stats SA also shows how much gambling has become part of everyday spending. When it looked at how households spend money on fun activities like sports, gym, games, books, and tickets, more than half of that money (54.5%) went to gambling.
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Lower-income households hit hardest
The trend is most pronounced among lower- and middle-income earners. More than half of workers earning between 8,000 and 15,000 rand a month said they use betting to supplement their cash flow.
Old Mutual warned that the strategy is worsening financial vulnerability rather than solving it. About 22% of respondents said gambling had already contributed to financial difficulties this year, while financial pressure among workers earning below 30,000 rand a month has doubled since 2025.
The financial strain is also driving more South Africans into debt. The share of workers with personal loans climbed from 54% in 2025 to 64% in 2026, including informal borrowing. Loans from mashonisas, or loan sharks, rose from 12% to 19%, while borrowing from family and friends increased to 28%, up 10 percentage points. Borrowing through stokvels also climbed to 16%, underscoring the growing reliance on personal networks and informal lenders to stay afloat.
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AI joins the search for quick returns
The survey also found that South Africans are increasingly relying on technology to improve their finances. Nearly half (48%) of respondents said they use artificial intelligence platforms for investment advice, compared with 40% who consult financial advisers.
Old Mutual cautioned that many people are also using trading apps for stocks, cryptocurrencies and derivatives in pursuit of quick profits, exposing themselves to additional financial risks.
The findings come as South Africa’s gambling industry continues to expand rapidly. According to the National Gambling Board, total gambling turnover exceeded 1.5 trillion rand by 2025, stressing the scale of betting activity and raising concerns that financial desperation is increasingly driving participation rather than recreation.
