53% of Employed South Africans Gamble to Pay Debt as Borrowing Pressures Deepen
Updated
Updated · Business Insider Africa · Jul 30
53% of Employed South Africans Gamble to Pay Debt as Borrowing Pressures Deepen
3 articles · Updated · Business Insider Africa · Jul 30
Summary
53% of employed South Africans earning at least 8,000 rand a month now use betting for extra income, and 42% say they gamble frequently to cover budget shortfalls, according to Old Mutual.
Lower- and middle-income workers are driving the trend, with more than half of those earning 8,000-15,000 rand betting to bridge cash gaps as financial pressure below 30,000 rand a month has doubled since 2025.
22% of respondents said gambling had already worsened their finances this year, while personal borrowing climbed sharply: loan use rose to 64% in 2026 from 54% in 2025, and mashonisa borrowing increased to 19% from 12%.
48% of respondents also said they use AI platforms for investment advice—more than the 40% who consult financial advisers—as Old Mutual warned that trading apps and crypto speculation are adding risk.
South Africa's broader gambling boom underscores the shift from recreation to financial survival, with National Gambling Board data showing total gambling turnover exceeded 1.5 trillion rand by 2025.