South Africans spend grocery money on online gambling
A study reveals South Africans are increasingly using funds intended for groceries on online gambling, driven by a desire to win money.Summary
A recent study by Trade Intelligence indicates a concerning trend in South Africa: individuals are diverting money earmarked for essential expenses, particularly groceries, towards online gambling. The research, based on a survey of 700 respondents, found that grocery spending is the most impacted category, with nearly two-thirds of players motivated by the hope of winning money. Despite many admitting to losing more than they win, and a significant portion not tracking their spending, they continue to gamble with funds needed for basic necessities. The surge in online gambling, with games like Aviator and Starburst driving traffic to platforms like Hollywoodbets, has prompted concern from retail CEOs like Sean Summers of Pick n Pay, who are urging regulators to tighten advertising controls. In response, National Treasury is considering a new 20% tax on gross gambling revenue to discourage problem gambling and its negative consequences, estimating this could generate over R10 billion in additional revenue.
(Source：Itweb)