South Africa’s betting industry shows steady growth
The National Gambling Board of South Africa released the 2016/17 financial year report which revealed a strong growth in the global gaming revenue (GGR). It rose by 3.8%, with a year-on-year contrast with numerous sectors of the market showing remarkable figures.
National Gambling Board – the Tax
Tax revenue dropped by 1% to R2.7bn in 2017 with a total sum of ZAR $27bn (£162m) collected during the year. At 66.4%, online gambling sites had contributed the uppermost amount of taxes and rates paid by comparison with other gambling subdivisions.
Sports Betting
The horse and sports gambling industry’s revenue went up by 14.3%. The report also claimed that “GGR that is generated by bookmakers offering to gamble on sport amplified by 22.0%” accounting for the division’s big increase. Events such as the 2016 European Football Championships have created a sports gambling boom worldwide and clearly, the football fanatics of South Africa was no exclusion.
Limited Payout Machines (LPM) sustained the growth trend by attaining a total of ZAR $2b on behalf of a 14.1% yearly increase. The achievement of the machines was credited to the “increase of active LPMs in all provinces”. As global gaming revenue has improved year-on-year for LPMs it is probable that more and more will be connected around South Africa.
Bingo revenue ascended by 36.6% in a year, with the statement stating “The increase in operative bingo positions in the Eastern Cape and North West is linked to the high upsurge in GGR”.
The total GGR from the casinos dropped by 1.8% to ZAR $17b during the economic year. “The slight drop can, among others, be credited to the drop of the operational positions in Western Cape, Gauteng, Mpumalanga, Eastern Cape, Northern Cape, and Free State”. The casino business is still the largest source of the gaming revenue for South Africa, accounting for an enormous 66.4% of the produced gaming revenue in the year.
Overview
global gaming revenue has increased by 3.8% to R27.0bn in FY2017. Casinos are the vital source of betting revenue even though other divisions of the South African gaming industry are on the up. Compared to other provinces, Gauteng has accounted for the highest amount of GGR made with a 41.1% share.
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