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Online Gambling in South Africa
One of the emerging markets in the online gambling world is South Africa, and it is easy to understand why. The country has the natural riches and excellent technology to allow an industry such as online gambling to expand. It also has one of the largest tourist turnovers in the world, millions who play at one of the many traditional casinos in the country and would seek a natural extension to their African gaming fun online.
For many years, online gambling in South Africa was simply illegal, with anybody caught doing so, or operating an illegal online gambling site subject to prison time or hefty fines.
That does not mean, however, that South Africans did not gamble online. Some of them accessed sites that operated in Europe or the United Kingdom, while other online sites began operating in neighboring African countries such as Lesotho. The benefit of African-based online casinos was that in most cases they offered South Africans the option to pay in their own currency – the Rand – thus removing the need to make expensive currency exchanges.
It soon became clear, however, that keeping a tight lid on the online gambling industry would eventually cause an explosion. The industry was becoming wrought with criminal elements such as money laundering and organized crime and the government believed that if it did not step in to do something drastic, the situation would become out of control.
Last year, the South African government began taking steps to form a legalized and regulated online casino industry. Intense investigations and studies were set in motion to see what would be required to bring the industry to a point where South Africans could go about gambling freely on the internet, and at the same time protecting minors and problem gamblers who might be harmed by the easy access of wagering.
The government heard all the recommendations put forth earlier this year, and finally voted to regulate the industry last month. At present, the bill is only awaiting the signature of President Thambo Mbeki to change the legislation once and for all.
What does the legalization of online gambling mean for the South African industry? First and foremost, many of the world’s top gambling operators have been eyeing this virginal market for quite some time and have even entered the market in one way or another. Those who haven’t may find themselves at a disadvantage.
Companies such as Victor Chandler have already bought into South African partner companies who know the region and can guide them when important business decisions need to be made.
Gambling in South Africa is big news. One only needs to look at statistics to realize this. While the industry generated R6.2 billion in 2001/02, this figure jumped to a massive R13.5 billion in 2006/07. Add to the equation internet gambling and one can clearly see the direction that gambling is taking in South Africa.
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