The start of a new year often brings hope and fresh beginnings, but for some, January can be fraught with financial challenges. The festive season’s overspending frequently leaves many struggling to make ends meet, leading to temptations of risky financial decisions.
The National Gambling Board (NGB) has issued a cautionary statement, urging South Africans to resist the allure of gambling as a quick solution to financial woes.
“Gambling should not be viewed as a reliable source of income or a means to resolve financial difficulties,” stated Caroline Kongwa, accounting authority of the NGB. “This mindset is dangerous, as gambling is inherently risky and often results in losses people can’t afford.”
In South Africa, January is colloquially referred to as “Januworry” due to financial strain. Many people receive their December salaries early, and the subsequent festive spending spree often exhausts funds meant to sustain households until the next paycheck.
For individuals facing dire financial situations, gambling may appear to offer a quick fix. However, this can exacerbate problems, as many turn to borrowing to fund their gambling habits in hopes of earning a windfall. This cycle often leads to deeper financial distress and mounting debts.
The NGB stresses that gambling should be considered a form of entertainment, similar to dining out or going to the movies. “Household budgets should prioritize essentials like bills and basic needs before allocating any money to gambling,” Kongwa emphasized. Using gambling winnings as a strategy to survive from paycheck to paycheck is a significant warning sign of financial instability.
Supplementing income through gambling increases the risk of developing an addiction or compulsive behavior. When gambling spirals out of control, it can severely impact the financial and mental well-being of the gambler and their loved ones. Unfortunately, the stigma surrounding addiction often prevents individuals from seeking help.
According to the board, red flags of problematic gambling behavior include:
A growing compulsion to gamble larger amounts of money more frequently, chasing losses by gambling until funds are entirely depleted, and borrowing, begging, or stealing to sustain gambling habits or repay gambling-related debts.
Others are using gambling as an escape from life’s challenges, inability to focus on work, studies, or personal relationships due to obsessive thoughts about gambling, and lying about gambling losses or exaggerating winnings.
The NGB urges those struggling with gambling addiction—or their loved ones—to seek assistance from the South African Responsible Gambling Foundation (SARGF). Addressing the problem early can help individuals regain control of their lives and protect their families from further harm.
By promoting responsible gambling and advocating for healthy financial habits, the NGB hopes to help South Africans avoid the pitfalls of gambling-induced financial crises during this “Januworry” season.
