World Cup Betting Nets R1.5 billion for Local Bookies

July 16 - The World Cup has ended in South Africa and the country is now looking what to focus its energy on next, but bookies will be smiling all the way to the bank.

It has been revealed that over R1.5 billion was spent on World Cup betting over the month-long tournament, with about R500 million spent on illegal betting.

Bookmakers around the country said that it was the biggest betting bonanza the country has ever experienced and it was a complete jackpot for them.

Hilton Hasson, a local bookmaker who runs MBet, said about the World Cup betting fiesta: "Although I had expected the World Cup to dwarf any other event in the country....it has been phenomenal."

The size of the bets had also surprised many bookmakers, with bets on the Final match ranging between R5,000 and R20,000.

South Africa's Rugby Super 14 had previously been considered the biggest betting event in the country, which usually sees about R100 million exchanging hands. The World Cup has out-shadowed that event, as well as the Durban July.

One of the reasons for the massive betting spree was the arrival of international visitors who are betting pros and also the soccer fans who preferred to place their bets locally.

The Department of Home Affairs had reported that more than one million visitors had passed through the country's borders. Most visitors came from Southern African countries, followed by tourists from Britain, the United States, Germany, Australia, Brazil and Mexico.

Lance Michael Bookmaker (LMB), a local bookie reported that several punters had wagers bets of close to seven figures on the Final match.

Manager of LMB said: "If our own figures are anything to go by we are talking millions of millions of rands already"

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