Numbers released recently around the problem of particularly online gambling in South Africa has raised concern all the way up to Parliament.
The call for urgent reform comes against the backdrop of massive industry growth.
RELATED: Opposition parties demand crackdown on online gambling, slam govt inaction
Now, a new study by Experian and Vault22 shows that South Africans spent R1.5 TRILLION on gambling in 2024 – roughly 65% of total outstanding consumer debt.
The most financially exposed groups are younger and mid-affluent consumers – especially those in aspirational segments.
Stephen Grootes discusses the research with Tando Ngibe, senior manager at Budget Insurance.
Nbige highlights the finding that the rateof default on credit is…