Financial pressure don push millions of South African workers into sports betting and online gambling. Many dey hope say a lucky win go help dem 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 wey earn at least 8,000 rand per month now dey rely on betting as extra income. About 42% say dem dey gamble frequently, hoping to win enough money to cover budget shortfalls.
Old Mutual warn say this strategy dey worsen financial vulnerability instead of solving am. About 22% of respondents say gambling don already contribute to financial difficulties this year. Financial pressure among workers wey earn below 30,000 rand per month don double since 2025.
The trend dey most pronounced among lower- and middle-income earners. More than half of workers wey earn between 8,000 and 15,000 rand per month say dem dey use betting to supplement dem cash flow.
Financial strain dey drive more South Africans into debt. The share of workers with personal loans climb from 54% in 2025 to 64% in 2026, including informal borrowing. Loans from mashonisas rise from 12% to 19%, while borrowing from family and friends increase to 28%. Borrowing through stokvels also climb to 16%.
Separate data from Stats SA show how gambling don become part of everyday spending. The findings come as South Africa‘s gambling industry continue to expand rapidly.
Old Mutual also find say many South Africans dey use technology to improve dem finances. Nearly half of respondents—48%—say dem dey use artificial intelligence platforms for investment advice, compared to 40% wey consult financial advisers. Old Mutual caution say many people dey use trading apps for stocks, cryptocurrencies and derivatives in pursuit of quick profits, exposing themselves to additional financial risks.
