Most women gamble as a way to make additional income.
It is difficult to tell if South Africa has a gambling problem or a poverty problem.
The number of gamblers in the country can be viewed as a sign of people struggling to make ends meet.
A report by Old Mutual has revealed that working women have joined the gambling industry for different reasons. Old Mutual is a financial services company that offers products such as savings, investments, insurance, and retirement planning.
To celebrate Women’s Month, they have partnered with the Johannesburg Stock Exchange (JSE) to run the SheInvests campaign, aiming to enhance financial literacy among women.
Gambling as a solution
As part of the campaign, Old Mutual released the Old Mutual Savings and Investment Monitor (OMSIM) report that tracks the shifting attitudes and behaviours of the working class.
Vuyokazi Mabude, Head of Knowledge & Insights at Old Mutual, unpacked the report’s findings on Wednesday in Gauteng. One of the most concerning findings of the report is how 46% of working women who took part in the survey said they take part in gambling.
Out of that 46%, 52% of the women said they gamble as a way to make additional income, while 34% gamble frequently, hoping to make money that can cover some of their expenses or debt.
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Gambling is a problem
Mabude highlighted that 19% of the women who reported they are gambling said they have had to borrow money, use credit, or sell something to gamble. While 24% said they have found themselves in financial difficulties because of gambling.
Minister of Trade, Industry and Competition (DTIC) Parks Tau previously said there are plans to curb the growing rate of gambling, especially illegal online gambling. These plans include limiting gambling advertisements.
The report focuses on the working class between the ages of 18 and 65 who earn R8 000 and above. Women make up 45% of the sample.
The data was collected between 17 April and 12 May 2025, and it was reweighted according to the income and demographic profiles of the working class as per the UNISA Bureau of Market Research.
Single mothers
While unpacking the findings, she highlighted that one in three women is a single mother, which makes things a bit harder for them.
“Women are experiencing greater strain than the broader market. The proportion of women who are considerably financially stressed has risen from 39% to 43%, with stress levels climbing to 49% among single mothers, significantly higher than the national average,” added Mabude.
Women cited several reasons for their financial stress, including insufficient income to cover all expenses, excessive debt, high living costs, and concerns about income security.
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Sandwich generation
More women than men are part of the sandwich generation. These are people who are supporting not only children but also parents and/or other older dependents.
“A higher percentage of working women fall into the sandwich generation category than men, and even more so for single mothers at 61%.”
More women have also become Poly-Jobbers, according to the report. These are people who are side-hustling, freelancing and doing after-hours work in addition to their regular job.
47% of these women own a part-time business, while 35% earn an income from social media as influencers.
Debt levels
Moving on to debt levels, Mabude noted that most women have lower debt levels than they did a year ago. However, they continuously worry about debt.
The report shows that 17% of working single mothers took out a loan to consolidate their debt.
She noted that most women struggle with overspending, as the report revealed that 70% of working women often or sometimes overspend. The reason behind overspending is impulsive buying.