A guide to South African horse racing: Tradition, excitement, and how to get involved:
Whether you attend a live race or place your bets online, there’s no denying the thrill that horse racing brings
Horse racing has been a cornerstone of South African sport for over a century, attracting everyone from avid punters to casual spectators. Iconic events like the Durban July and Sun Met combine high stakes with high fashion, but the real excitement lies in backing a winner and the strategy behind each bet.
Whether you’re new to horse racing or want to learn more about how to get involved, this guide offers an insider’s look at how the sport works in South Africa.
A Brief Overview of Horse Racing in South Africa
Horse racing in South Africa traces its origins back to the early colonial days, and it has since grown into a major sporting event with a national following. The country is home to several top-tier racecourses:
- Greyville Racecourse in Durban: The famous Durban July is held here, drawing huge crowds and fashion enthusiasts.
- Turffontein Racecourse in Johannesburg: Hosts the historic Summer Cup.
- Kenilworth Racecourse in Cape Town: The setting for the prestigious Sun Met, one of the country’s most anticipated events.
While these events bring glamour and spectacle, the core of horse racing is the sport itself—a contest of speed, endurance, and skill, with thoroughbred horses competing across various distances and conditions.
Understanding Horse Racing Formats
At its heart, horse racing is about competition. Horses, jockeys, and trainers all play critical roles in determining the outcome of a race. Here’s a breakdown of the common race formats:
- Flat Racing: The most traditional form, where horses run on a level track over distances typically ranging from 1,000 to 3,200 meters.
- Handicap Races: Horses carry additional weight to even the playing field, ensuring a more competitive race.
- Graded Races: These are the pinnacle of the sport, featuring the best horses and offering the most significant rewards. In South Africa, races are graded from 1 to 3, with Grade 1 being the most prestigious.
The intricacies of these races often lie in the careful planning by trainers, who balance the horse’s fitness with strategic race choices, and the tactical decision-making of jockeys, who must navigate the pack and time their final sprint to perfection.
Betting on Horse Racing: How to Get Started
For many, the thrill of horse racing is amplified by the prospect of placing a bet. Betting on horse races is part of the sport’s allure, and it’s a major driver of engagement. In South Africa, punters can place bets at racecourses, through licensed bookmakers, or increasingly, online.
There are a variety of bet types to choose from, including:
- Win Bet: A straightforward bet on which horse will win.
- Place Bet: A wager on a horse finishing in a top position (usually 1st, 2nd, or 3rd).
- Each-Way Bet: A combination of a Win and Place bet, which gives you a payout if your horse either wins or places.
- Exacta: Predict which horses will finish first and second in the exact order.
- Trifecta: Bet on the first three finishers in the correct order.
With online platforms offering horse racing markets, it has never been easier to get involved. Punters can study form guides, follow live odds, and place bets all from the convenience of their mobile devices.
Major Events in South African Horse Racing
South Africa is home to a range of prestigious racing events that draw not only local interest but also international attention. Here are some key races you should know:
- The Durban July: Held annually at Greyville Race Course, this event is the highlight of the South African racing calendar. The Durban July is renowned not only for the fierce competition on the track but also for its social and fashion elements.
- The Sun Met: Taking place at Kenilworth Racecourse, this Cape Town event attracts some of the best horses in the country, offering a spectacle of elite racing and vibrant crowds.
- The Summer Cup: This race, held at Turffontein in Johannesburg, is one of the oldest and most prestigious horse races in South Africa, dating back to 1887.
These events provide opportunities for seasoned bettors and newcomers alike to experience the best of South African horse racing.
The Future of Horse Racing and Online Betting
With the digital age in full swing, more and more South Africans are turning to online platforms to place their bets on horse racing. The convenience of mobile apps, combined with real-time odds and live-streaming of races, means that the excitement of the track is now more accessible than ever.
If you’re new to horse racing or looking to try your hand at betting, there’s never been a better time to get involved. With several online bookmakers expanding their offerings to include horse racing, you can easily dive into the action, wherever you are.
In fact, for those keen to start betting on horse races, platforms like Easybet have recently launched their own horse racing markets, offering an exciting new way to enjoy the sport. Whether you’re a seasoned bettor or just curious, the options are now at your fingertips.
Conclusion
Horse racing in South Africa is more than just a sport—it’s a part of the country’s culture. With its combination of athletic prowess, strategic betting, and glamorous events, it continues to captivate audiences. Whether you attend a live race or place your bets online, there’s no denying the excitement and thrill that horse racing brings.
If you’re ready to explore this exciting world, now is the perfect time to dive into the action and experience the thrill of the track.
Death should not be a taboo discussion:
Funeral cover is a necessary – if uncomfortable – conversation for every family and staff member
The global outbreak of Covid-19 forced people to confront the reality of ever-increasing funeral costs and changed the conversation around the value of life and funeral cover. However, it did not remove those ingrained taboos perpetuated from generation to generation that still exist around confronting our mortality and that of the people around us. Discussion of death still involves cultural taboo, superstition, emotional discomfort and not knowing what to do when it happens, whether one is mentally prepared because of illness or as a result of a tragic turn of events.
Regardless of the circumstances, death is a subject that must be addressed openly and honestly, both to protect the wishes in the most appropriate way of the person who has passed and to mitigate financial distress for those left behind who have to pick up the pieces of their lives, both emotionally and financially. Lack of preparation can change the legacy a person leaves behind and push the limits of those without the benefit of life or funeral cover, who may have to scramble for funds to bury a loved one — risking prolonged poverty through incurring huge debts to cover the cost.
“Death is not a nice subject to discuss, but as wills are only read some days after someone has passed, without having the conversations, families will not otherwise know the wishes of a person in order to be able to make the arrangements they want,” says Executrust fiduciary specialist and certified financial planner, Marietha Roos.
“Every person has a different opinion on how to plan for the inevitable — or even if to plan. Every individual’s circumstances differ and regardless of income bracket, place different levels of importance on whether to have cover or not. There are people on a minimum wage who pay expensive premiums to cover their families. Then there are people who feel they have enough savings to cover their death costs, and then some who don’t think about cover because they have a son or daughter who they believe will take care of things. The latter makes their children the most vulnerable and open to carrying large expenses.”
Underlining the importance of the family discussion around what policy to go for is the value in getting trustworthy input on such factors as the manner of burial, the number of people to cover on a policy, and whether or not to use an independent financial advisor.
Repatriation of diaspora
No family wants to be left with no other choice than to opt for a pauper or destitute burial. Add to this that South Africa has large communities of diaspora from all over the world, particularly from Africa, and repatriation to a country of origin is often a dying wish — one that will not be paid for at public expense.
South Africa being as culturally diverse as it is means funeral planning must factor in the preferred manner of burial. Cultural and religious beliefs underline the need for both discussion and education around burial options. Aquamation (an accelerated process of returning a body to nature, only available in South Africa through AVBOB) or cremation versus burial, donation of body parts or of the body for medical research, coffin versus shroud, church service versus celebration of life, should be some aspects the family and policyholder should collaborate on before deciding on which policy is the most appropriate.
This substantiates the need for education, and while potential policyholders can research these if they have the available tools, insurers and financial advisors have a role to play in educating people — especially in communities in the lower LSM levels.
Constructive discussion
Regardless of demographic, funeral cover is an essential financial planning tool. There are products catering to both affluent individuals and the upwardly mobile middle income demographic, and policies that can help individuals in the lowest LSMs, but the crucial funeral cover conversation has to take place, no matter how uncomfortable — starting with the family.
Discussion needs to be constructive and the value of life cover communicated along the lines of it being a commitment to loved ones; a proactive approach to managing life’s uncertainties and potential tragedies; a step towards leaving a sound financial legacy and the importance of not leaving the family destitute through complying with funeral expectations. For families, discussing and integrating funeral cover into a financial strategy demonstrates foresight and concern for wellbeing after the policyholder has passed on.
The funeral cover discussion holds as much importance within the employer-employee space as within individual families, and it is worth keeping in mind how the culture of a company may have led to its choice of funeral policy provider. Funeral and life cover providers usually have group scheme policies requiring a minimum number of members. Premiums are paid for by the employer and such policies cover employees, from large corporations to small and medium enterprises. Some employers may deduct these premiums from employees, depending on their specific employee benefit structures.
There are also voluntary group scheme options — which require a minimum number of members, and which provides cover to such entities as burial societies, church groups and stokvels.
The message to the individual and the employee is to choose a funeral cover that offers as many options as possible to meet specific individual wishes, and is progressive and versatile enough to meet the needs of the majority of cultural and religious beliefs.
Death doesn’t discriminate
According to Kobus Wentzel, Head of Distribution at 1Life, one taboo that needs dismissing is the misconception that funeral cover is for the less wealthy, saying this couldn’t be further from the truth.
“Death does not choose a social class, gender, race or religion,” says Wentzel. “Insurers offering funeral cover have a responsibility to instil a culture of correctly preparing for funeral costs, regardless of what level of the market they are targeting. They are an important part of the support system at the time a death occurs and beyond just considering wealth preservation, should guide families on what is expected of them, such as legal requirements.
“Choosing funeral cover should consider the speed and efficiency at which cover is paid out and whether or not it provides a financial buffer for the policyholder. The cost of a funeral starts at around R15 000 and can go to over R100 000.”
While R100 000 may generally be the upper end of what a funeral typically costs, funerals can be elaborate affairs costing far in excess of this. Wentzel says beneficiaries — regardless of whether they are affluent or not — should not be left carrying debt, on top of dealing with emotional stress.
High net-worth individuals understand the value of comprehensive planning, including how funeral cover fits into a broader estate strategy to protect the legacy they wish to leave behind. Funeral cover is also not the domain of the middle-aged or senior citizen. It’s equally vital for younger South Africans who are building their futures. Death, regardless of age, can be unexpected and even if the younger demographic is juggling student loans, early career expenses, and family responsibilities, there is significant value in securing affordable funeral cover as a part of their financial planning, fitting it in around cultural priorities and family preference.
The mix of traditional and cultural expectation, information limited to those with access to what is available on the market, lower barriers to entry by some insurers, and perceived reasonable costs have provided a good platform for the South African funeral cover and life insurance industry to flourish.
Life and funeral cover has become a very competitive market, with many traditional financial companies such as banks offering insurance cover and services like drafting and storing of wills. There has also been a notable growth in companies — whose core business can be anything from coffee to furniture — diversifying into providing financial services offerings such as funeral and life cover products.
“The problem that comes up is that those companies that have diversified into offering funeral cover products usually do not have the depth and experience in funeral cover and undertaker services. They are not expert advisors, but rather pushers of product,” continues Roos. “Consumers will not be properly advised of the fine print of contracts and there is the risk that instead of an outstanding debt or contract being properly managed by an executor, some of the funeral cover funds may be used by the untraditional insurer to settle what has been purchased on credit or agreed to on a lease.
Appropriate advice
“An executor is absolutely vital, as is the importance of speaking to a financial advisor or fiduciary specialist. All financial advisors should be registered with the Financial Sector Conduct Authority (FSCA) and belong to the professional body, the Financial Planning Institute (FPI). Fiduciary practitioners or specialists should be Fiduciary Practitioner of South Africa (FPSA) registered, which also requires them to be a Fiduciary Institute of South Africa (FISA) member. These registrations should top the list when looking for a financial planner or fiduciary practitioner. Their role is not to push products, but to give tailored advice for each individual and suggest the most appropriate solution. Theirs is the correct approach when assisting anyone with their financial planning and wealth creation.
“A policyholder must appoint someone they trust as executor of their estate in order to protect the interests of their beneficiaries. In the event of their death, the reaction of families can be motivated by emotion, panic and fear, and mistakes [are] made. For example, notifying a bank of a death when a spouse is married in community of property before a will has been read can mean frozen accounts and a family left high and dry. When the executor has been appointed, that person takes over the role of the policyholder and has the permission and mandate to keep bank accounts open, rearrange debit orders and keep an audit trail of transactions and relevant sundry policyholder information.”
Roos stresses the importance of every individual having a “death file” that contains copies of the will, policy documents, marriage certificates and other important documents that are available as soon as possible to the primary beneficiary and executor responsible for finalising things. The file’s whereabouts and contents should be made known and discussed beforehand with the executor and responsible beneficiary, and be available to the financial advisor, who, she says, is usually the first port of call for the bereaved to source information.
Both the executor and the primary beneficiary need to be aware of and understand the fine print, and the policyholder needs to be willing to be transparent about sharing financial information and what their wishes are. Without all the right documents being available — including the death certificate, which must be obtained within 14 days of a death — insurers will be unable to pay out within their policy terms and conditions.
Making business easier
Technology has become the essential core for competitive advantage when offering financial products and services, with agility, scalability and the use of the latest technologies such as artificial intelligence part of any financial institution or enterprise — with data, privacy, safety and cybersecurity being top concerns.
There are some financial service providers who have built their business offering around the use of technology from their inception. Others, with decades-long histories grounded in providing funeral cover and undertaker services, such as Assupol, AVBOB and Doves Group, have steadily adjusted their technology strategies to modernise and optimise how to use it to grow the business and revenues, enhance customer experience and make greater organisational collaboration possible.
“Technology is being applied to make doing business easier,” says Roos. “However, it won’t remove the importance of having a face-to-face interaction, especially with a financial advisor. Both technology and a registered expert advisor add to the spread of education to the client and potential client base, but face-to-face is important as it helps aid in explaining the advice and enables the client to understand the reasoning behind it. Technology will not replace the value of the personal touch.”
Open communication
With South Africa facing multiple economic headwinds, consumers are being adversely affected by rising prices and shrinking budgets. It is important to remember that a funeral cover policy requires a monthly premium, which can be structured according to available disposable income.
A policy should be taken with a company that proactively helps prevent policyholders being over-insured, assists in making sure the cover is adequate, regularly evaluates cover appropriateness and helps when financial difficulty affects payment of premiums. The importance of maintaining open communication and a transparent relationship with the insurer cannot be stressed enough. There are always options to ensure funeral cover is maintained in the event of an income change such as a retrenchment, unexpected financial costs, becoming ill or disabled, or going on pension.
Only by breaking the taboos around discussing death can policyholders — regardless of their financial standing — take charge of their family’s financial future, ensure their legacy is handled responsibly and gracefully, that their wishes are respected and through funeral cover ensure their families are not financially burdened with unforeseen costs, allowing them to grieve with dignity.
Funeral insurance – A product for the less wealthy, or is it?
By Kobus Wentzel
There is a common misconception that funeral insurance is a product for the less wealthy however, death and taxes are two of life’s certainties and so this couldn’t be further from the truth. The cost of a funeral starts at around R15 000 and can go over R100 000 – something that can set, even the upper end of the earning spectrum, back.
The reality is changes in local legislation has opened up a new category of funeral policies that cater specifically to the more affluent – offering cover of up to R100 000 and providing the consumer or their Financial Adviser a critical opportunity to tap into this market with various, flexible funeral plans/cover amounts that aligns to their larger financial portfolio.
But funeral cover is not just about cost of premium or of the funeral for that matter, speed and efficiency is key and therefore choosing a cover that pays out quickly as well as looking for one that has added value ensures a financial buffer for the policy holder. It is within our power to guide our clients and ensure that their beneficiaries are not left carrying the financial burden – whether affluent or mass market clientele.
Since 2021, we have seen a significant increase in the life and funeral insurance space. In fact, today we are still seeing higher claims figures than pre-Covid-19 levels. Similarly, the combination of life and funeral product sales in the more affluent market is seeing a higher sum assured indicating that funeral is NOT only for the mass market but certainly, the affluent market is showing promise in this space.
Death does not choose a social class, gender, race, or religion and therefore, it is our responsibility to instil a culture of correctly preparing for funeral costs – costs that clients can mitigate eating into their family’s future wealth by simply considering funeral insurance.
1Life Insurance Ltd (Reg No. 2005/027193/06) is a licensed Life Insurer and Financial Services Provider (FSP No. 24769)
• Kobus Wentzel, Head of Distribution at 1Life
The Enduring Value of Postgrad Education:
Staying ahead of the curve in a constantly changing world
By Jamaine Krige
The question of whether to pursue postgraduate qualifications is not new, but in an era of rapid technological advancement and economic uncertainty, it has never been more pertinent. As the job market evolves at an unprecedented pace, few are left wondering if further education is still relevant on the road to success.
According to industry experts, recruiters and graduates who have undertaken the journey, postgraduate education is not only relevant but increasingly important in a rapidly-changing, globalised world. Far from being a luxury, advanced degrees are becoming essential tools for career advancement, personal growth and societal progress, especially for those for individuals looking to stay relevant, competitive and adaptive in increasingly complex and volatile marketplaces.
Beyond job security
The fourth industrial revolution has ushered in an age where automation and artificial intelligence are reshaping entire industries. Here, postgraduate education offers a crucial advantage: the ability to develop advanced, specialised and deeply “human” skills that are less likely to be automated. These qualifications equip graduates with the analytical prowess, creative thinking and leadership capabilities that are in high demand across sectors.
A recent study shows that in South Africa, graduate unemployment has doubled over the last 16 years. As economic disparities in the country remain stark and unemployment figures — especially for the youth — are daunting, postgraduate qualifications offer a beacon of opportunity and a chance for professionals to differentiate themselves in an increasingly competitive market.
Unsurprisingly, according to StatsSA: “A person’s chances of landing and keeping a job are also greatly influenced by their level of education. Compared to those without matric, those with tertiary education have a greater chance of transitioning from unemployment or inactivity into employment.” These qualifications empower individuals with the knowledge, skills and networks necessary to navigate the local, regional and global business landscape with skill and confidence.
But the benefits of pursuing a further education extend beyond job security for individuals to include the betterment of all. Research conducted at the postgraduate level drives innovation in fields ranging from renewable energy to public health. As global challenges become more complex, the need for individuals with deep expertise and interdisciplinary perspectives willing to push the boundaries of human knowledge has never been greater.
These programmes also offer a unique opportunity for personal growth, challenging students to think critically, communicate effectively and engage with diverse perspectives. In an increasingly interconnected world, these skills are invaluable not just professionally, but in fostering global citizenship and cross-cultural understanding.
The business edge
Historically, the MBA was perceived as a degree for aspiring corporate executives and business owners, but as business education has evolved, so has its application. Today, MBA graduates are making their mark across various sectors from healthcare and education to tech startups and non-profit organisations. They bring with them a toolkit of critical thinking, leadership acumen and problem-solving skills that are indispensable for tackling the complexities of today’s world.
As companies increasingly look for employees who can think strategically, lead teams and innovate under pressure, the demand for MBA graduates and those with advanced business expertise continues to rise. This is according to the Graduate Management Admission Council (GMAC)’s 2023 Corporate Recruiters Survey.
The report indicates that over the past five years, the hiring of MBA graduates has been on the increase, with more than three-quarters of the companies surveyed having hired business school graduates in the two years prior. Since 2019, the non-profit and government sectors have shown the sharpest rise in hiring MBA holders, while across the continent, the demand for business school graduates is expected to increase by 2028.
An economic argument
While the cost of postgraduate education, particularly at South Africa’s leading business schools, is a legitimate concern, the evidence suggests that it remains a sound investment. Studies consistently show that individuals with advanced degrees earn significantly more over their lifetimes than those with bachelor’s degrees alone. Globally, many universities and governments are expanding scholarship and funding opportunities, recognising the broader societal benefits of a highly educated workforce.
The postgraduate education landscape is evolving to meet changing needs. Many institutions now offer flexible learning options, including part-time and online programmes, which allow students to balance their studies with work and other commitments. Additionally, there’s a growing emphasis on practical, industry-linked research and internships, ensuring that academic knowledge translates into real-world impact.
For those weighing their options, the message is clear: in a world of constant change, the pursuit of advanced knowledge and skills is more relevant than ever.
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