South African workers turn to gambling to cover expenses, Old Mutual finds
More than half of employed South Africans now gamble, with lower earners most likely to rely on betting to supplement their income, according to new research from Old Mutual.
South Africa.- South African workers are increasingly using sports betting and online gambling to manage household finances, with more than half saying they gamble to cover expenses or repay debt, Old Mutual said in its Savings and Investment Monitor 2026.
The report found that 53 per cent of employed adults aged 18 to 65 earning at least R8,000 (US$484) a month participate in gambling, while 42 per cent admit they gamble frequently in the hope of generating enough money to meet living costs or reduce debt.
The reliance on betting is most pronounced among lower-income earners. Old Mutual found that 52 per cent of workers earning between R8,000 and R15,000 (US$908) a month use gambling to supplement their cash flow. Gambling participation is also higher among younger adults, with nearly six in 10 adults aged 18 to 29 gambling, compared with 40 per cent of those aged 50 and older, the report found.
The financial services group said the approach is contributing to greater financial distress rather than improving household finances. The study found that 22 per cent of respondents reported experiencing financial difficulty because of gambling in 2026, up from 12 per cent a year earlier. Among workers earning below R30,000 (US$1,816) a month, the proportion reporting financial pressure increased to 26 per cent, almost double the previous year’s level.
Sports betting remains the most popular gambling activity, with 63 per cent of gamblers placing wagers on sporting events. Casino slot games ranked second at 46 per cent, followed by the lottery at 42 per cent. Casino table games attracted 26 per cent of gamblers, while 11 per cent reported betting on horse racing.
The report also found that gambling is becoming a regular habit for many participants, with around 9 per cent gambling every day or almost every day.
Beyond gambling, Old Mutual said workers are increasingly seeking alternative ways to generate returns, with 48 per cent using artificial intelligence platforms for investment advice compared with 40 per cent who consult financial advisers. The company cautioned that speculative investing and gambling share similar risks when used as a substitute for sound financial planning.
According to the National Gambling Board, South Africa’s total gambling turnover exceeded R1.5trn (€78.65bn) in 2025. Old Mutual said the findings underscore a growing dependence on gambling as South African households grapple with rising living costs.
