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The Commission launched its investigation into various reports of insider betting on the election date in June 2024 after Ladbrokes flagged a bet placed by Williams, who was recorded as a politically exposed person.
Further bets flagged by operators involved other politically sensitive individuals, including Metropolitan Police officers and political advisers. The Commission charged 15 people total in April 2025. Four have now pleaded guilty.
The offences relate to special betting markets that let customers wager on the exact date of the general election.
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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.
Botswana’s regulated betting market has expanded quickly following the Gambling Authority’s 2023 process to license bookmaker and totalisator operators, including online betting subject to regulatory approval.
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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.
