S.Africans spent R257.6bn on gambling in 2011
SA's gambling industry is expected generate more than R25 billion in gross revenue by 2016.
JOHANNESBURG - South Africa's gambling industry is expected to flourish in the next few years, generating more than R25 billion in gross revenue by 2016.
In 2011, the industry brought in a profit R18.4 billion, with R1.8 billion deducted for tax purposes.
Price Waterhouse Coopers (PWC) presented the country's first ever gambling outlook on Wednesday.
It said South Africans wagered R257.6 billion last year, at an average of R8,000 spent per adult.
Casinos generate the majority of revenue, with nearly R20 billion expected to be collected annually by 2016.
While horse racing continues to dominate sports betting, gambling on other sports like soccer, cricket and rugby is significantly increasing.
PWC says while online gambling and bingo are still small players in the industry, they are expected to increase as regulation tightens.