Betting platforms are as common today as cigarette adverts were in the early 90s. Betting firms sponsor sports teams, tournaments and stadiums, fuelled by the bad luck of down-on-their-luck South Africans struggling to make ends meet. While the National Gambling Board works to crack down on illegal gambling, it seems to be doing little to address the growing problem of betting services.<\/p>\n
While not considered gambling by definition, betting services have become so easily accessible, it\u2019s little wonder that they generated R51 billion in revenue over the last financial year. Revenue from Casinos, Bingo and Limited Payout Machines together doesn\u2019t even come close to how lucrative betting is.<\/p>\n
The problem is starting to get widespread recognition, with Sean Summers, chief executive officer at Pick n Pay, noting in an earnings call this week that the problem is out of control.<\/p>\n
\u201cSomewhere north for R70 billion is being taken out of the market by the gambling industry,\u201d Summers noted. The CEO notes that the revenue from the gambling sector is as much as the retailer made in the first half of the financial year. Let that sink in. More was spent on gambling than groceries in the first half of the year at Pick n Pay.<\/p>\n
While Summers makes a good point, it is framed against the backdrop of Pick n Pay having a pretty rubbish start to its 2026 financial year.<\/p>\n
While the company celebrated a 0.4 percent increase in turnover in South Africa compared to the first half of the 2025 financial year, it also warned investors about the status of the business.<\/p>\n
\u201cPick n Pay continues to be loss\u2011making at the trading profit level, with company\u2011owned supermarket like-for-like sales growth lagging slightly behind like-for-like operating cost growth in the reporting period. The multi\u2011year journey of returning Pick n Pay to a profitable and future\u2011fit business continues to be tackled in a purposeful and methodical manner,\u201d investors were told on Monday.<\/p>\n
\u201cOn a full-year FY26 basis, the Group expects the Pick n Pay segment trading loss to be broadly in line with FY25. This is because Pick n Pay continues to invest in critical skills to rebuild retail excellence to facilitate the achievement of the trading profit after lease interest break\u2011even target,\u201d the retailer added.<\/p>\n
So it seems that Summers is slamming the gambling sector because folks are spending money on bets rather than groceries at his store. We\u2019re not worried too much about Summers and his pay cheque being impacted by this poor performance, but he makes an undeniably good point.<\/p>\n
\u201cSmoking was a cancer and they banned all marketing. I think we need to give serious consideration to a similar move,\u201d the CEO said.<\/p>\n
All too often do we see promises that locals could win millions if they just bet on something. Sports events are throwing betting in your face, and we\u2019re fast approaching US levels of betting, where broadcasters share the splits of bets.<\/p>\n
What makes this all the more frustrating is that online gambling isn\u2019t permitted under South African law. But, online betting is, even if betting, is a form of gambling. It\u2019s not clear why this distinction exists, it really makes no sense, and if anything, it highlights the need for legislative reform in this area. However, that could be made worse should online gambling be made legal in all forms, which is something that could happen in future. If that levy breaks, the problem will only get worse.<\/p>\n
While Summers may want folks to have more disposable income to spend at his stores, his thoughts about banning gambling adverts in all their forms are valid. Perhaps having somebody with his status can highlight how bad this is all getting and inspire action from the powers that be.<\/p>\n<\/p>\n
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