Discover essential tips for enjoying gambling responsibly during the festive season, ensuring your holiday is both fun and safe. Picture supplied.
The global gambling industry continues to grow rapidly, with recent 2024 estimates indicating a market value exceeding $80 billion, fueled by advancements in online platforms and increasing accessibility. South Africa is no exception, experiencing notable growth this year, particularly in the sports betting sector.
As the festive season approaches, this period traditionally sees a significant spike in gambling activity. The reasons are manifold: with more free time during holidays, bonus paychecks providing extra disposable income, and, for some, the financial strain of the season driving a search for quick money. Additionally, the festive period can evoke mixed emotions, prompting some to gamble as a form of escapism.
While comprehensive statistics for December gambling patterns remain elusive, anecdotal evidence suggests a considerable increase in participation. While easy online access can fuel gambling and betting, the in-store retail betting outlets are still a popular choice amongst punters, with more female punters placing wagers too.
According to data from local betting operator, Bettabets, in-store retail gambling activity sees a noticeable spike during the festive period. Limpopo and Mpumalanga, in particular, experienced a 10-12% increase in retail store activity in rural areas and 6-8% in urban centers, reflecting the influx of holiday visitors. Furthermore, a year-on-year analysis shows an 11% average increase in customer spending between November and December across provinces. Recognising these trends, it’s more important than ever to approach gambling with caution and mindfulness during this time.
"Our data highlights the festive season's popularity among punters, but it also underscores the need for responsible gambling," says Mathabo Sekhonyana, chief marketing officer at Bettabets. "While this is a time for celebration and fun, it's essential to approach gambling with caution, ensuring you don’t overspend or compromise your financial stability."
To help citizens make informed and responsible betting decisions over the festive period, Bettabets shares the following tips:
For Online gamblers:
Set a budget: Decide on a spending limit upfront and stick to it.
Monitor your time: Avoid spending excessive hours online—balance is key. Consider a time limit.
Beware of scams: Use only trusted and verified websites to protect your winnings and personal information.
Take advantage of two-factor authentication: Having a second form of verification makes it harder for fraudsters to access your account.
Look for the license: Avoid visiting shady websites by sticking to credible platforms that have a solid reputation and are properly licensed by the gambling regulator.
For retail store visitors:
Plan your visit: Go with a clear plan and a set amount of money.
Avoid alcohol: Alcohol can impair judgment, so gamble with a clear mind.
Keep valuables secure: Be cautious with your money and winnings while in public spaces.
For all gamblers:
Know the game: Understand the rules and odds before placing bets. Do your research beforehand.
Don’t chase losses: Accept that losing is part of gambling, and don’t try to win back losses recklessly.
Take breaks: Step away and avoid letting gambling take over your festive enjoyment.
Sekhonyana emphasises that gambling should remain a form of entertainment. "This is a time to enjoy recreational activities responsibly. Gambling is a form of leisure—not a way to solve financial difficulties or make quick money," she adds.
PERSONAL FINANCE
