Desperate to Make Ends Meet, 4 in 10 South Africans Turn to Gambling

South Africa has a gambling problem. That’s according to a new report from the leading financial services firm Old Mutual, which finds that more than half of South African workers engage in gambling and sports betting, with many doing so in hopes of paying off debt and covering living expenses.

In its 2026 Savings and Investments Monitor, Old Mutual surveyed 18- to 65-year-olds earning a monthly income of R8,000 (US$484) or more. The annual report measures the financial pulse of working South Africans, diving into their monetary attitudes, perceptions, and behaviors.

The most recent data presents an alarming reality in that many lower- and middle-income households have turned to gambling in hopes of improving their financial health. Roughly 42% of those polled conceded that they “often gamble” to help “cover expenses or debt.”

“Of concern is that 42% of working South Africans acknowledge they gamble frequently hoping to make money that can cover some of their expenses and debt,” the Savings and Investments Monitor reported.

The Old Mutual survey added that gambling as a means to manage expenses is “markedly” more prevalent among lower earners, described as those with monthly incomes of R8,000 to R15,000.

The Old Mutual findings suggest that 52% of the R8,000-R15,000 demographic gamble in hopes of covering debt and expenses. Younger people are at even higher rates, with 58% of 18- to 29-year-olds betting to pay the bills.

Low-Income Gambling

For many, gambling has delivered more financial hardship than benefit. Old Mutual finds that 22% of people can’t cover their monthly expenses because of their gambling, a rate that nearly doubled from 12% in 2025.

In response to the question, “Have you found yourself in financial difficulty as a result of your gambling?” 41% answered “Yes,” and 16% said, “Yes, often.”

The country’s overall gambling participation rate was largely unchanged year-over-year, up just 1% to 53%. While 58% of earners from R15,000 to R29,999 say they gamble, only 48% of earners with incomes about R60,000 say they bet.

Sports betting is the prominent gambling activity, with 63% of gamblers saying they wager on sports. Casino slots are next at 46%, and the lottery is third at 42%. Casino table games are played by 26% of gamblers, and 11% participate in horse wagering.

One in 10 gamblers say they participate daily, while 32% are betting two to three times a week. Twenty-three percent play once a week, and 24% play once or twice a month.

Gambling in South Africa

South Africa has a vast gambling industry, with land-based casinos, iGaming, parimutuel horse racing, bingo, a national lottery, and sports betting.

South Africa bet on gambling beginning in the early 1990s to generate much-needed government revenue to rebuild infrastructure and fund social programs.