South Africa has a gambling problem, and it has exploded since the Covid-19 lockdowns.
Just take a look at the graph below, which shows gambling revenues across all platforms relatively flat from 2005 to 2019. In 2020, during the Covid lockdowns, it dropped by 28% in current prices. It has since climbed 220%.
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SA gross gambling revenue 2005-2025
Not shown in the chart is the shift in gambling habits:
- Casinos (tables and slots) grew revenues by 26.1% in 2023, but has since gone into retreat, recording -4.1% revenue growth in the 2025 financial year;
- Limited payout machines (LPMs) grew revenues by 14.4% in 2023 but has…