The SIGMA Africa Summit, the international i-gaming, e-sports and gambling event, took place last week at GrandWest in Cape Town, bringing together international thought leaders and innovators in the i-gaming and tech space.\n<\/p>\n\n\n\n
With SA’s gambling industry reporting R1,1 trillion worth of wagers in 2024, there’s a critical need to talk about how to make this industry more responsible and safe for South African citizens, a conversation that took centre stage.\n<\/p>\n\n\n\n
Speaking on the Africa’s New Era of Safer Gambling Panel at the summit last week, Mathabo Sekhonyana (CMO, Bettabets), highlighted how lip service isn’t enough. \n<\/p>\n\n\n\n
She touched on the real societal issues behind problem gambling, including financial literacy, budgeting, and joblessness, and how the industry must step up its corporate social investment efforts.\n<\/p>\n\n\n\n
Further to this, Robin Bennet (Western Cape Gambling and Racing Board) stressed the increase in problem gambling, urging stronger regulation and education on new betting products to mitigate risks.\n<\/p>\n\n\n\n
“As South Africans increasingly live their lives online and have access to smartphones easy gambling is just a click away. And it’s reshaping our financial habits as many people see it as a pathway to quick money and a way out of debt.\n<\/p>\n\n\n\n
“The reality, of course, is very different. While gambling for entertainment is a time-honoured pastime, seeing it as a way to clear indebtedness or grow your bank balance is a recipe for financial disaster.”\n<\/p>\n\n\n\n
According to survey findings by retail and online sports betting company Bettabets, a worrying 48% of gamblers are doing so in the hope of meeting rising cost-of-living expenses such as school fees and rent, with 70% saying they gamble to supplement their income, rather than doing so for entertainment purposes.\n<\/p>\n\n\n\n
And when they do enjoy a gambling win only 27% say they “always” set aside a portion of their winnings for savings or investment purposes. Mostly, they spend the money immediately.\n<\/p>\n\n\n\n
These insights were gathered from those attending of the first of a series of free Smart Money Management Workshops launched this month by Bettabets to coincide with National Responsible Gambling Awareness Month (November). The free workshops provide financial education and practical money management skills to punters.\n<\/p>\n\n\n\n
“With South Africa having one of the lowest savings rates in the world, financial literacy is not one of our strong suits,” said Bettabets CMO, Mathabo Sekhonyana. \n<\/p>\n\n\n\n
“And, while gambling for fun and entertainment by a responsible adult is acceptable, betting to meet your monthly expenses or pay off other debts is irresponsible, as it may become an endless cycle.” According to Sekhonyana, South Africa’s responsible gambling measures are relatively comprehensive compared to other African markets. The National Responsible Gambling Programme (NRGP) integrates treatment and counselling, public awareness, education, training and research.\n<\/p>\n\n\n\n
\uf075 Public education and awareness campaigns: Media campaigns across print, radio and television to educate gamblers about responsible gambling.\n<\/p>\n\n\n\n
\uf075 National schools programme: A curriculum that educates learners about gambling risks, mandated by national legislation.\n<\/p>\n\n\n\n
\uf075 Treatment and counselling: A dedicated Problem Gambling Counselling Line and psychiatric interventions for severe cases.\n<\/p>\n\n\n\n
\uf075 Host responsibility systems: Casinos have procedures for identifying problem gamblers and intervening where necessary.<\/p>\n","protected":false},"excerpt":{"rendered":"
The SIGMA Africa Summit, the international i-gaming, e-sports and gambling event, took place last week at GrandWest in Cape Town, bringing together international thought leaders and innovators in the i-gaming 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