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Betway is a British online gambling company established in 2006, operating under the parent company Super Group.
The company leads its operations from its headquarters in Gżira, Malta, with satellite offices in London, Guernsey, and Cape Town.
In South Africa, Betway operates through Raging River Trading and is licensed by the Western Cape Gambling and Racing Board.
The online gambling platform offers a variety of sports markets and live casino games to South Africans.
Although Betway operates in various geographies, including the Middle East, North and South America, Europe, and Asia Pacific, South Africa is its most important market.
64% of Betway’s revenue is generated in Africa and the Middle East, 19% in Europe, and 14% in North and South America.
Betway has seen strong growth, increasing its total revenue from R12.3 billion in 2022 to R20.2 billion in 2024.
A large portion of this growth came from South Africa. Since 2022, it has grown its annual revenue by over 70% in euro terms.
In 2023, Betway generated €317 million in South Africa. Its revenue grew to €544 million in 2024.
In rand terms, Betway South Africa generated R6.3 billion in revenue for 2023 and R10.8 billion in revenue for 2024.
These figures show that South Africa is Betway’s largest market, accounting for 53% of its total international revenue.
Although Betway experienced strong revenue growth in recent years, it is not particularly profitable.
While Betway’s total revenue was R20.2 billion in 2024, it reported a profit of R1.8 million before tax. In 2023, Betway made a R550,000 loss, and in 2022, it made a profit of R380,000.
The 2024 financial data shows that Betway’s profit before tax margin was only 0.009%, which barely makes the business profitable.
Betway’s largest operating expense is marketing, which is nearly 80% of revenue and the reason for its strong revenue growth.
In South Africa, Betway has aggressive marketing campaigns, which include being the title sponsor for the Premier Soccer League and the SA20 T20 Cricket League.
It also sponsors the Big Easy Golf Tour and Summer Cup Horse Racing and has extensive marketing campaigns across all media.
Betway revenue
Issued on Daily Investor by Drikus Greyling | https://dailyinvestor.com/business/97666/betway-making-billions-in-south-africa/
