South Africa’s online gambling market is “accelerating,” with SunBet leading the charge after reporting 70% year-on-year revenue growth.
Once dominated by physical casinos – which controlled more than 73% of the market in 2010 according to a study – the country’s gambling landscape has shifted decisively toward digital.
SunBet’s online growth is strong recent evidence of this: Sun Internationals’ online sportsbook brand reported the sharpest growth rate this year.
Revenue for the first six months of the year jumped 70% year-on-year and to R874m (€42.6m/£36.8m) from R512m the year prior.
That also coincided with a rise in customer numbers. The group confirmed that the total number of unique active players was up 70.6% and the number of first time depositors up 43.5%, while deposits in general rose 105.2%.
CEO Ulrik Bengtsson, who began his tenure in July, spoke previously about how he sees Sun International focus on its long-term competitiveness and as a digitally-led market-leading omnichannel gaming company of scale.
South Africa market is ‘accelerating’
A South African YouTube news channel summarised the latest news in the country’s gambling market, noting how Sun International performed well this year.
The Daily Bagel news show spoke on the market and the progress from casinos dominating the land space and market to the rise of online customers.
In particular, the show asserted that the focus for companies such as Sun International should be on mobile and online gambling.
It said: “Back in 2010, casinos made up over 80% of South Africa’s gambling market. Today, they account for just 24%, while online gambling now represents 70% — and it’s only accelerating.”
“For Sun International, the message is clear: the tables may still be spinning, but the real money isn’t being made on the floor. It’s being made on your phone.”
“What’s striking isn’t just the numbers, but the margins. With nearly half a million new signups and average daily deposits of 23 million rand, it’s scaling faster than any casino ever could.”
SunBet’s launch in Botswana in late 2024, with the platform going live in February 2025, could also have some potential, although the nation’s gambling market is still in its infancy.
With strong performance online, SunBet will be hoping to consolidate its strong 2025 performance thus far by continuing to invest in its product to end the year in a strong position.
