A recent study by Old Mutual has revealed a shocking statistic: nearly half of South Africa’s working women gamble their hard-earned money. This alarming trend highlights the financial pressures many women face and the growing role that gambling plays as a solution, albeit a harmful one. The findings shed light on the struggles of working women, particularly those trying to balance rising expenses, debts, and financial stress. In this article, we explore the statistics, the reasons behind this phenomenon, and potential solutions to address it.
The Prevalence of Gambling Among South African Working Women
Old Mutual’s 2025 Savings and Investment Monitor (OMSIM) reveals that 46% of South Africa’s working women gamble. Among these, 52% gamble to earn extra income, while 34% do so to manage debt or meet daily expenses. These statistics show how gambling has become a coping mechanism for many women struggling to make ends meet.
However, the consequences of gambling are far-reaching. The same study found that 19% of these women borrow money, use credit, or sell personal assets to fund their gambling habits. Additionally, 24% report facing serious financial difficulties due to gambling. This data underscores the dangerous cycle many women fall into, using gambling as a temporary fix that leads to long-term financial instability.
ALSO READ: US Tariffs Result in 4,000 Job Losses in the Automotive Industry
The Impact of Gambling on Single Mothers
The situation is particularly dire for single mothers. The study shows that 49% of single mothers report significant financial stress, compared to the national average of 43%. Many single mothers, already burdened with the responsibility of raising children and managing household expenses, view gambling as a quick fix to ease their financial strain.
Dr Zanele Ndlovu, a financial psychologist, explains, “Single mothers often face a unique set of financial challenges. When these challenges become overwhelming, gambling can seem like an easy escape. However, it only exacerbates the problem, leading to more debt and stress.”
While gambling may provide brief moments of relief, it often leads to a vicious cycle of financial instability, deepening the challenges faced by single mothers and their families.
Government Action and Expert Insights
In response to the growing gambling problem, the South African government is considering measures to address the issue, particularly the rise of illegal online gambling platforms. Ebrahim Patel, the Minister of Trade, Industry, and Competition, has voiced concerns about the rapid increase in gambling among women and the targeting of vulnerable individuals through advertisements.
“We are committed to regulating gambling more effectively to protect vulnerable groups, especially women, from the harmful effects of gambling,” said Minister Patel.
Experts agree that financial education plays a crucial role in tackling this issue. By improving financial literacy, women can empower themselves to manage their money better, avoid debt traps, and find healthier solutions to their financial challenges.
Vuyokazi Mabude, Head of Knowledge & Insights at Old Mutual, says, “Financial literacy is key. When women have the knowledge and tools to make informed financial decisions, they are less likely to rely on gambling as a solution.”
The Critical Role of Financial Education
Empowering women with financial education can significantly reduce the prevalence of gambling. Financial education programmes offered by banks, community organisations, and financial experts can teach women how to manage their finances, set realistic goals, and plan for the future. This knowledge helps women break free from the cycle of gambling and regain control over their financial well-being.
Financial experts also suggest offering debt management programmes and counselling services to provide women with alternative means of managing financial stress. By equipping women with the right skills and support systems, we can help them make sound financial decisions that don’t rely on the dangerous and unpredictable world of gambling.
READ MORE: Debt Instalment Reduction Offer? Here’s What You Need to Watch Out For
The fact that nearly half of South Africa’s working women gamble their hard-earned money is a worrying indication of the financial pressures they face. While gambling may seem like a quick solution, it often leads to far-reaching consequences for women and their families. Increasing financial literacy, implementing stronger regulations, and offering community support can help tackle this issue, empowering women to make informed financial decisions and escape the cycle of financial stress and gambling.