South Africa’s online sports betting market is expected to grow significantly in the next five years.
- The market is projected to reach R14.4 billion ($960 million) by 2028, up from R6.7 billion ($440 million) in 2023.
- The growth is driven by increasing smartphone adoption, internet penetration, and a love for sports.
- The 2022 FIFA World Cup and the upcoming 2024 Olympics are expected to further boost the market.
- Online betting platforms are offering more competitive odds, bonuses, and user-friendly interfaces to attract customers.
- The South African government is also considering regulating online gambling to generate tax revenue.
- The growth of online sports betting is expected to create new job opportunities in the industry, including in marketing, software development, and customer support.