South African workers gamble to cover debts, study shows
A 2026 Old Mutual Savings and Investments Monitor finds that 53% of employed South Africans aged 18‑65 earning at least 8,000 rand rely on sports betting or online gambling as extra income, and 42% gamble frequently hoping to meet short‑term cash gaps. About 22% say gambling has already caused financial difficulties this year. Personal‑loan usage rose sharply, with the share of workers holding loans increasing from 54% in 2025 to 64% in 2026. Loans from informal loan sharks (mashonisas) grew from 12% to 19%, borrowing from family and friends rose to 28%, and stokvel borrowing climbed to 16%. The trend is most pronounced among lower‑ and middle‑income earners, especially those earning between 8,000 and 15,000 rand a month, and financial pressure on workers earning under 30,000 rand has doubled since 2025. Nearly half (48%) of respondents use artificial‑intelligence platforms for investment advice. National gambling turnover exceeded 1.5 trillion rand in 2025, underscoring the scale of the sector.
The study warns that reliance on gambling to bridge debt heightens financial vulnerability and may erode workplace productivity, prompting calls for stronger financial‑wellness programmes and debt‑management support in firms.
Entities: Mashonisas · National Gambling Board · Old Mutual · South Africa · Stats SA
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 2 SOURCES] Loans from informal lenders (mashonisas) rose from 12% to 19% between 2025 and 2026. (Old Mutual Savings and Investments Monitor 2026)
- [● 2 SOURCES] Total gambling turnover in South Africa exceeded 1.5 trillion rand by 2025. (National Gambling Board)
- [● 3 SOURCES] 22% of respondents say gambling has already contributed to financial difficulties this year. (study)
- [● 3 SOURCES] Borrowing from family and friends increased to 28%, up ten percentage points. (study)
- [● 3 SOURCES] 48% of respondents use artificial‑intelligence platforms for investment advice. (Old Mutual Savings and Investments Monitor 2026)
- [● 3 SOURCES] 53% of employed South Africans aged 18‑65 earning at least 8,000 rand rely on gambling for extra income. (Old Mutual Savings and Investments Monitor 2026)
- [● 3 SOURCES] The share of workers with personal loans increased from 54% in 2025 to 64% in 2026. (Old Mutual Savings and Investments Monitor 2026)
- [● 3 SOURCES] 42% of those workers gamble frequently hoping to win enough to cover shortfalls. (study)
- [● 2 SOURCES] Borrowing through stokvels climbed to 16%. (study)
- [○ 1 SOURCE] Total gambling turnover exceeded 1.5 trillion rand by 2025. (National Gambling Board)
- [● 2 SOURCES] Loans from mashonisas rose from 12% to 19% between 2025 and 2026. (study)
- [● 2 SOURCES] 53% of employed South Africans aged 18‑65 earning at least 8,000 rand rely on betting as extra income. (study)