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Buffett has repeatedly raised concerns regarding the mainstreaming of gambling and its marketing under the guise of investing. In May, he targeted prediction markets and traders speculating on short-term instruments like 30-minute bitcoin options.

“If you’re buying or selling one-day options, that is not investing. It is not speculating. It is gambling,” Buffett said during an interview with CNBC. “There’s nobody who can explain why they’re buying an option for one day.”

Buffett, who built his fortune buying “wonderful businesses” at fair prices and holding them for the long term, believes the public has mistakenly adopted a get-rich-quick mindset.

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The specialised media – channels, portals, journalists and gossip profiles – complete this ecosystem with profiles focused on reporting on sports and the promotion of gambling platforms.

Here, advertising for online betting sites is positioned differently. Presented as news, the content talks about the highest odds on the market, features offered by operators, regulatory changes and various cases of bettors, ranging from those who made huge financial gains to those who lost everything. 

It is very common among the different profiles identified to refer to regulatory bodies, such as the National Advertising Self-Regulation Council and SIGAP (Brazil’s betting management system). They also speak of responsible gaming in a generic way. In many cases, this is associated with illegal operators and potentially irregular advertising practices.

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“In other countries, such systems detect the time taken, every bet placed, how is the game played and thus help to curb addiction,” Mmolotsi said.

Kgatleng Central MP Mpho Morolong also said gambling should be understood as entertainment rather than a route to financial security.

“Gambling should be taught as entertainment rather than a way to make money,” Morolong said.