Online Gambling Legal in South Africa

Onlinecasino.org News | 12.12.2006 | 09:34:19 | Views: 554 | Casino News

The local media in South Africa reported that a draft amendment bill, appointed by the Cabinet, will finally be passed into law. It looks like the South African government is following the same route as the UK government for online gambling.

This past week has been a positive struggle for the South African government as they have been trying to draft regulations to legalize internet gaming.

Business Day said in statement that provincial governments have been losing out on an additional source of tax revenue as well.

Director for Trade and Industry, Astrid Ludin, spoke with the newspaper, stating that the draft bill proposes and licensing system for both online gaming websites and its players, however, the taxation strategy, is still yet to be determined.

The South African online gambling industry has been outlawed by the National Gambling Act of 2004, under the premise that more in-depth research was needed into the regulatory frameworks of the UK, US, and Australian markets.

Minister of Trade and Industry, Mandisi Mpahlwa, received two years to draw up regulations to govern internet gambling, which will be regulated in terms of the proposed Gambling Amendment Bill.

The international market research companies estimate that the global online gambling industry could triple to $25 billion per year by 2010.