| NEWS |
| 28.05.2008 |
| South Africa Soon to Approve Online Gambling |
A new gambling law has been recently approved by South African parliament. The main aim of the law is online gambling industry regulation. The issues it will deal with are problem gambling, player protection, licensing, taxation and advertising, etc.
Online gambling industry of Africa was never regulated before the law was passed.
Thus, online gambling industry had been highly criminalized, stated memorandum attached to the National Gambling Amendment Bill. The national treasury was losing a considerable amount of yearly revenues; the country’s reputation had been compromised – those are not all the results of unregulated gambling in the country, reported memorandum.
In this connection it has been decided that the new bill ought to deal with such issues as problem gambling, player protection, licensing, taxation and advertising, in other words with all the negative socio-economic effects associated with gambling.
From now on all online players would need to be registered with a licensed interactive gambling provider and provide an affidavit to ensure they were older than 18 years. This measure will ensure that all gambling activities are conducted responsibly, fairly and honestly. It will protect minors and other vulnerable persons from the negative effects of gambling activities.
There will be a special electronic monitoring system employed that will help discover potentially addictive behaviour and then ban credit extensions to players. Still the bill is not signed by the president Thabo Mbeki and will come into effect after that.
As we all know US banned online gambling last year thus hitting revenues at sites offering a variety of games, including blackjack and roulette.
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