GAMING and hotel group Sun International has launched a new sports betting platform, Sunbet.
The group had identified sports betting as a market with growth potential and earlier this year acquired Powerbet Gaming, which owned and operated Voltbet.com, for R30 million.
That company has now been rebranded and the website relaunched, and Sun International said it would be marketed to “sports-mad South Africans”.
Speaking at the launch Carnival City on Saturday February 15 Michael Farr, group General Manager of corporate brand and communications at Sun International, said Sunbet would help accelerate the group’s entry into online gaming.
“The sports betting industry is in its infancy and offers high growth potential,” he said. “It seems likely that, in time, online gaming will be legalised in South Africa and we believe this business will position us well for when this happens, both in terms of track record and in understanding our guests’ online preferences.”
In South Africa it is still illegal to gamble online — the exception is online sports wagering — although there is legislation on the table to change that. The National Gambling Amendment Act of 2008 legalised interactive gambling but has not yet been adopted. Questions remain on how online gambling will be governed and kept secure.
Mr Farr said, “Many South Africans would like to bet on their favourite teams or individuals, but don’t necessarily gamble in casinos. Sunbet gives them the platform to do just that.”
According to the PWC Gambling Outlook report for 2013 – 17, sports betting is becoming increasingly popular in South Africa, with gross gambling revenue rising 71.3 per cent in 2012. Between 2009 and 2012, gross gambling revenue for sports events rose 566 per cent, compared with a 16 per cent increase for horse racing in the same period.
Sports betting, with horse racing included, accounted for 12 per cent, or R2.6 billion of the total gambling revenue in 2012 of R20.9 billion, second only to casino gambling, which contributed R16.4 billion in the same year.
There are now more than 400 betting shops and more than 300 sports books in South Africa. It is expected that within the next five years, wagering on sporting events will overtake betting on horse racing.
Sunbet will also allow South Africans to bet on non-sports competitive events such as Idols, the television reality show.
Sunbet will offer sports betting in rugby, cricket, soccer, tennis and US sports, as well as English football, while negotiations are under way to include horse racing. To register one can go to Carnival City and register on any day.
