Gambling a last resort for broke South Africans
Betting is up 35% from a year ago, Capitec interim results show
28 September 2023 - 08:16
UPDATED 28 September 2023 - 22:45
An increasing number of consumers are resorting to gambling in a desperate attempt to lay their hands on cash as the credit market in SA tightens in response to high bad debts, results from Capitec show.
One of SA’s biggest unsecured lenders, Capitec said in its results for the six months to end-August that gambling transactions increased 35% year on year “putting further strain on household cash flow”...
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