Nearly 30% of Working Ghanaians Turning to Gambling to Survive — Old Mutual Report

Nearly 30 percent of working Ghanaians are increasingly relying on gambling and sports betting as a coping mechanism to cover daily expenses and debt obligations, despite signs of rising incomes and easing financial pressures in the broader economy.

This is according to the latest Old Mutual Financial Wellness Monitor, which paints a picture of cautious recovery overshadowed by persistent financial vulnerability.

The report shows that 37 percent of respondents say they are earning more than they did a year ago — a significant improvement from 22 percent in 2023. Yet many households remain financially fragile.

According to the study:

• 39 percent of Ghanaians fear losing their income
• 53 percent would run out of money in less than three months if they lost their jobs
• Many still lack the financial buffers needed to withstand economic shocks

The findings suggest that while macroeconomic conditions are improving, household‑level resilience remains weak.

Rise of the “Poly‑Jobber” Economy

To manage income instability, more Ghanaians are diversifying their earnings through side jobs and freelance work.

The report notes that 27 percent of working Ghanaians are now “poly‑jobbers” — people earning additional income beyond their primary jobs — up from 21 percent in 2024.

Young people are driving this trend:
32 percent of Ghanaians aged 20–29 report having multiple income streams, a response to limited job opportunities and rising financial obligations.

---CitiNewsRoom