Placing a Wager on the Future: Is iGaming a Sustainable Engine for Job Creation in South Africa?

The global iGaming industry has seen rapid growth and increasing revenue but the success varies across different regions around the world. Factors such as the regulations within each area and the speed of adopting the latest technology and internet infrastructure, are key drivers in the iGaming industry. 

Many countries with these factors on their side have been able to boost the economy and create new jobs based on the high demand for iGaming and the profits it achieves. Countries like Malta and Gibraltar have experienced significant expansion of the iGaming industry and other countries such as Italy have followed suit. 

Regulatory changes across the United States and Canada have also been a catalyst for iGaming growth. Perhaps a less obvious success story lies with South Africa, where strong digital adoption is partly behind the increasing popularity of sports betting and online casino games.

Estimates of the Gross Gaming Revenue suggests that South Africa generated close to ZAR 30 billion from online betting between 2023 and 2024. Sports betting is very popular in South Africa, with a huge football fanbase who are enjoying the thrill of betting on worldwide football matches.

The employment opportunities in South Africa have benefitted greatly by the growth of demand in iGaming in the country, with around 30,000 jobs in the traditional and online gambling sector. However, there are more jobs across different niches related to supporting the online casino industry, such as UX/UI developers, cybersecurity professionals, data analysts and admin roles.

Is the South Africa iGaming Job Market Sustainable?

Many fast-paced tech-related industries experience an initial period of rapid growth but then the novelty of the product starts to subside. This is why companies have to do due diligence before deciding whether the industry or product is going to be sustainable for a prolonged period before deciding whether to invest.

If we look at some of the longest established iGaming industries, for example, in Malta iGaming continues to thrive. In 2022, data shared by the Malta Gaming Authority revealed that the gaming industry represented almost 10% of the country’s GVA (Gross Value Added).

Statista projected that the Malta gambling market would reach US$146.78 in 2025 and would experience an annual growth rate of 1.48% leading up to 2030.

Meanwhile, the stats from South Africa are very positive in terms of the growth rate of sports betting. The South Africa government revealed that the betting and online gaming revenue increased by a staggering 72% between 2018 and 2023.

Are the Foundations in Place for iGaming Growth in South Africa?

Globally, the Covid pandemic had a huge impact on online gaming take-up, as people turned to entertainment that they could enjoy from home during this period while social restrictions were in place.

Another significant enabler in increasing the interest in online gaming has been mobile device developments, and reliable, fast internet connectivity. 5G networks have been rolled out in major cities in South Africa and continued upgrades are being implemented across other areas of South Africa.

Around 80% of the population are mobile internet users, with a 9-year continuous increase and forecasts that this trend of increased mobile usage across the population will continue.

So, the mobile usage and internet infrastructure is set up for continued growth of iGaming and the job sector that supports it, but the other major consideration is whether the regulations support growth. This is where there is less confidence, as the regulatory framework for gambling in South Africa has been complex for many years.

While sports betting is legal and there are over 30 licensed online sports betting sites and lotteries including lucky numbers are legal to play, online casino gambling has not yet been legalized. However, the enforcement of online casino laws is not strictly exercised and there have not been any prosecutions for using online casino sites in South Africa.

It is expected that the regulations around online casino betting will eventually be changed but this is currently a barrier for faster growth of the jobs sector supporting the iGaming industry in South Africa. 

Nevertheless, the strong performance of sports betting is helping to drive career opportunities. With the technology infrastructure investment and high levels of adoption of emerging technologies in South Africa, a sustainable iGaming job market is looking very likely.

If the online casino regulations are to be updated, this could push an already strong market to even further success. The demand for iGaming is high, the available technology is suitable and now the final barrier could be removed, opening up many more sustainable iGaming jobs in South Africa.