Latest news with #R83
The Citizen
17 hours ago
- Business
- The Citizen
Lotto and Lotto Plus results: Wednesday, 4 June 2025
A total of R83 million in jackpots is up for grabs tonight. Here are your Lotto and Lotto Plus results for 4 June 2025. Get the Lotto and Lotto Plus results as soon as they are drawn on The Citizen, so you can rest easy and check your tickets with confidence. Estimated Lotto and Lotto jackpots for Wednesday, 4 June 2025: Lotto: R62 million R62 million Lotto Plus 1: R13 million R13 million Lotto Plus 2: R8 million Lotto and Lotto Plus results for Wednesday, 4 June 2025: Lotto: 00, 00, 00, 00, 00, 00. Bonus: 00. Lotto Plus 1: 00, 00, 00, 00, 00, 00. Bonus: 00. Lotto Plus 2: 00, 00, 00, 00, 00, 00. Bonus: 00. The winning Lotto numbers will appear after the draw. Usually within 10 minutes of the draw. You might need to refresh the page to see the updated results. While great care has been taken to ensure accuracy, The Citizen cannot take responsibility for any error in the results. We suggest verifying the numbers on the National Lottery website. For more details and to verify the PowerBall results, visit the National Lottery website. When do South African National Lottery ticket sales close? Lottery outlets close at 8.30pm on the day of a draw, which takes place at 9pm. The terms and conditions may differ from other service outlets. Visit for more information. You can find the historical winning numbers for PowerBall and Lotto draws here. How much does it cost to play Lotto? Lotto entries cost R5 per board including VAT. Lotto Plus costs an additional R2.50 per board. You can also play Lotto on selected banking apps (T's & C's apply).
The Citizen
a day ago
- Business
- The Citizen
Lotto Draw Tonight: Massive R83 Million Jackpot
Wednesday's draw is set to create a new millionaire. A life-changing estimated jackpot of R83 million is up for grabs in Wednesday's Lotto and Lotto Plus draw, set to take place at 8.57pm on 4 June. Detailed jackpots for Wednesday's draw: Lotto: R62 million Lotto Plus1: R13 million Lotto Plus2: R8 million The last Lotto and Lotto Plus draw had the highest amount won, sitting at R222,909.70. This was won by only one player who managed to match five correct numbers and the bonus ball. How to play Lotto You can play the Lotto, Lotto Plus 1, Lotto Plus 2 games by choosing a Quick Pick option, where the lottery processing system randomly chooses six lucky numbers for you. Alternatively, a bet can be placed by a person choosing six numbers from 1 to 52 on any board. ALSO READ: Lotto and Lotto Plus results: Saturday, 31 May 2025 There is no limit to the number of boards a person can play, and the system also allows a multi-draw option. This option allows you to play the same numbers over multiple draws. How much does it cost to play Lotto? Lotto entries cost R5 per board, including VAT. Lotto Plus costs an additional R2.50 per board. Players can also use their respective banking apps to place their bets. Terms and conditions apply. Ticket sales close at 8.30pm on any given day. What happens after winning? Winners receive an SMS from their banks containing a reference number and further instructions regarding what documents to take along when visiting Ithuba, the lottery operator. If a player wins less than R250 000, the money will be deposited directly into their account if they used a banking app to play. Players who win more than R250 000 will be referred to the Ithuba for a payout. Free financial and trauma counselling is offered to those who win more than R50 000. Winnings are tax-free. ALSO SEE: Daily Lotto results: Tuesday, 3 June 2025 The national lottery also gives you a chance to win money every day from the Daily Lotto. The draw takes place every evening just after 9.30pm. Tickets for the Daily Lotto can be bought every day until 8.30pm. How to play Daily Lotto in SA? If you are buying a ticket in-store: Pick up a betslip in any lottery store. Choose five numbers between 1 and 36 or ask for a Quick Pick. Entries cost R3 each. You can play a max of R150, but you are allowed to play multiple boards. Select how many consecutive draws you wish to enter, up to a maximum of 10. Leave blank for a single draw. Take your betslip to the teller to pay for your ticket. Write your details on the back of your ticket in case you need to claim a prize. If you do not sign your ticket, and you lose it, anyone can use it to claim the prize. If you are playing online: Set up a lottery account and make a deposit to pay for tickets. Choose five numbers from 1 to 36 or select 'Quick Pick' to generate a random set. Repeat this on as many boards as you want to play. Decide whether to enter a single draw or multiple draws. Confirm and pay for your entry. All players must be 18 years and older.
IOL News
2 days ago
- Business
- IOL News
Understanding the hidden financial risks of gambling
Explore the alarming rise of gambling in South Africa, where over R1 trillion is wagered annually. This article delves into the hidden financial risks, particularly for low-income earners, and highlights the psychological toll of gambling addiction. Image: File picture. South Africans place over R1 trillion in bets annually, with R700 billion spent on sports betting alone. For many, particularly those with limited financial resources, the appeal of a big win can be incredibly tempting. However, the reality is often more complex. Instead of earning easy money, those who indulge in excessive gambling frequently face financial strain. In March, an online betting platform shared a story of someone turning an R4 wager into an astounding R83,701.54. While stories like this grab attention, the rise in online sports betting also brings important considerations. According to the National Gambling Board's 2022/23 gambling statistics, sports betting in South Africa has expanded significantly over the past decade, growing from under 10% of the gambling sector in 2009/10 to over half in 2022/23. What stands out is that 36% of those who gamble do so to pay off debts or cover expenses, according to the 2024 Old Mutual Savings and Investment Monitor. Among low-income earners (those earning between R8,000 and R15,000 per month), this figure rises to 41%, highlighting a concerning trend. Understanding the risks Despite rising costs of living and economic pressures, gambling has gained popularity, particularly due to the widespread use of mobile phones and internet access. This is especially evident among young African men. Advertising from betting companies further fuels this trend, increasing participation within this demographic. This can be risky, particularly for young people and low-income earners, who may see gambling as a way to improve their financial situation. However, losses can add up quickly, sometimes leading to financial stress. In a country already facing high unemployment and economic challenges, it's important to be aware of the potential financial pitfalls of gambling. A game of chance, not strategy Unlike investing, gambling is based purely on luck, yet many believe they can develop a winning approach. The truth is that the house edge ensures that bookmakers maintain a profit over time. For instance, when odds are at -110 on both sides of a bet, a bettor must risk R110 to win R100, meaning even skilled bettors face a statistical disadvantage in the long run. The belief that the system can be beaten can lead to risky financial decisions. Beyond financial losses, gambling can also take a psychological toll. It can lead to stress, anxiety, and even a cycle of chasing previous bets in the hope of recovering losses. A 2016 study by the University of Cape Town's Department of Psychiatry and Mental Health noted a significant association between suicidality and pathological gambling. It found that pathological gamblers were five to ten times more likely to have a history of suicide attempts than non-gamblers. Furthermore, gambling doesn't just affect individuals—it can have ripple effects on families, sometimes resulting in financial strain for loved ones. While gambling is legal, many people don't fully understand the long-term risks involved due to a lack of financial education. For those who feel their gambling habits might be affecting their financial well-being, Manyike advises seeking support. The South African Responsible Gambling Foundation offers free and confidential counselling services. Additionally, professional counsellors who specialise in gambling addiction can provide guidance. Gambling is not a reliable source of income, and without careful management, it can lead to serious financial setbacks. By increasing financial awareness and promoting responsible gambling, we can help people make informed decisions and avoid unnecessary financial risks. * Manyike is the head of financial education at Old Mutual. PERSONAL FINANCE
The Citizen
3 days ago
- Business
- The Citizen
The hidden costs of gambling
South Africans place over R1 trillion in bets annually, with R700 billion spent on sports betting alone. For many, particularly those with limited financial resources, the appeal of a big win can be incredibly tempting. However, the reality is often more complex. Instead of earning easy money, those who indulge in excessive gambling frequently face financial strain, says John Manyike, Head of Financial Education at Old Mutual. In March, an online betting platform shared a story of someone turning a R4 wager into an astounding R83,701.54. While stories like this grab attention, the rise in online sports betting also brings important considerations. According to the National Gambling Board's 2022/23 gambling statistics, sports betting in South Africa has expanded significantly over the past decade, growing from under 10% of the gambling sector in 2009/10 to over half in 2022/23. 'What stands out is that 36% of those who gamble do so to pay off debts or cover expenses,' explains Manyike, referring to the 2024 Old Mutual Savings and Investment Monitor. Among low-income earners (those earning between R8,000 and R15,000 per month), this figure rises to 41%, highlighting a concerning trend. Understanding the risks Despite rising costs of living and economic pressures, gambling has gained popularity, particularly due to the widespread use of mobile phones and internet access. This is especially evident among young African men. Advertising from betting companies further fuels this trend, increasing participation within this demographic. 'This can be risky, particularly for young people and low-income earners, who may see gambling as a way to improve their financial situation,' says Manyike. However, he notes that losses can add up quickly, sometimes leading to financial stress. 'In a country already facing high unemployment and economic challenges, it's important to be aware of the potential financial pitfalls of gambling.' A game of chance, not strategy Unlike investing, gambling is based purely on luck, yet many believe they can develop a winning approach. The truth is that the house edge ensures that bookmakers maintain a profit over time. For instance, when odds are at -110 on both sides of a bet, a bettor must risk R110 to win R100, meaning even skilled bettors face a statistical disadvantage in the long run. The belief that that the system can be beaten can lead to risky financial decisions. 'Beyond financial losses, gambling can also take a psychological toll,' says Manyike. 'It can lead to stress, anxiety, and even a cycle of chasing previous bets in the hope of recovering losses.' A 2016 study by the University of Cape Town's Department of Psychiatry and Mental Health noted a significant association between suicidality and pathological gambling. It found that pathological gamblers were five to ten times more likely to have a history of suicide attempts than non-gamblers. Furthermore, gambling doesn't just affect individuals—it can have ripple effects on families, sometimes resulting in financial strain for loved ones. 'While gambling is legal,' Manyike points out, 'many people don't fully understand the long-term risks involved due to a lack of financial education.' For those who feel their gambling habits might be affecting their financial well-being, Manyike advises seeking support. 'The South African Responsible Gambling Foundation offers free and confidential counselling services,' he says. Additionally, professional counsellors who specialise in gambling addiction can provide guidance. 'Gambling is not a reliable source of income, and without careful management, it can lead to serious financial setbacks,' concludes Manyike. 'By increasing financial awareness and promoting responsible gambling, we can help people make informed decisions and avoid unnecessary financial risks.' At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
IOL News
3 days ago
- Business
- IOL News
The hidden costs of SA's gambling crisis
In March, an online betting platform shared a story of someone turning a R4 wager into an astounding R83,701.54. While stories like this grab attention, the rise in online sports betting also brings important considerations. South Africans place more than R1 trillion in bets annually, with R700 billion spent on sports betting alone. For many, particularly those with limited financial resources, the appeal of a big win can be incredibly tempting. However, the reality is often more complex. Instead of earning easy money, those who indulge in excessive gambling frequently face financial strain, said John Manyike, Head of Financial Education at Old Mutual. According to the National Gambling Board's 2022/23 gambling statistics, sports betting in South Africa has expanded significantly over the past decade, growing from under 10% of the gambling sector in 2009/10 to over half in 2022/23. 'What stands out is that 36% of those who gamble do so to pay off debts or cover expenses,' explained Manyike, referring to the 2024 Old Mutual Savings and Investment Monitor. Among low-income earners (those earning between R8,000 and R15,000 per month), this figure rises to 41%, highlighting a concerning trend. Despite rising costs of living and economic pressures, gambling has gained popularity, particularly due to the widespread use of mobile phones and internet access. This is especially evident among young African men. Advertising from betting companies further fuels this trend, increasing participation within this demographic. 'This can be risky, particularly for young people and low-income earners, who may see gambling as a way to improve their financial situation,' says Manyike. However, he notes that losses can add up quickly, sometimes leading to financial stress. 'In a country already facing high unemployment and economic challenges, it's important to be aware of the potential financial pitfalls of gambling.' Unlike investing, gambling is based purely on luck, yet many believe they can develop a winning approach. The truth is that the house edge ensures that bookmakers maintain a profit over time. For instance, when odds are at -110 on both sides of a bet, a bettor must risk R110 to win R100, meaning even skilled bettors face a statistical disadvantage in the long run. The belief that that the system can be beaten can lead to risky financial decisions. 'Beyond financial losses, gambling can also take a psychological toll,' said Manyike. 'It can lead to stress, anxiety, and even a cycle of chasing previous bets in the hope of recovering losses.' A 2016 study by the University of Cape Town's Department of Psychiatry and Mental Health noted a significant association between suicidality and pathological gambling. It found that pathological gamblers were five to ten times more likely to have a history of suicide attempts than non-gamblers. Furthermore, gambling doesn't just affect individuals—it can have ripple effects on families, sometimes resulting in financial strain for loved ones. 'While gambling is legal many people don't fully understand the long-term risks involved due to a lack of financial education.' For those who feel their gambling habits might be affecting their financial well-being, Manyike advises seeking support. 'The South African Responsible Gambling Foundation offers free and confidential counselling services,' he added. Additionally, professional counsellors who specialise in gambling addiction can provide guidance. 'Gambling is not a reliable source of income, and without careful management, it can lead to serious financial setbacks. By increasing financial awareness and promoting responsible gambling, we can help people make informed decisions and avoid unnecessary financial risks,' Manyike concluded.
