Latest News Editor's Choice


Technology / Internet

Consequences of South Africa's tightening of online gambling laws

by Staff Reporter
26 Oct 2018 at 12:54hrs | Views
Gambling is a very popular pastime. Since the beginning of the casino era, millions of people were captivated by the chance of getting really rich either by luck or skill.

However, recent changes that were planned by the government can ruin the fun for many South African players. Read this article to learn how it can affect your experience.

Legal status of gambling in South Africa today
Right now South African laws allow some types of gambling. Governmental agencies give licenses to them and tax their revenues. The winnings are not taxed though. If you win at the national lottery or hit the jackpot in one of SA's land-based casinos, you don't have to pay any tax at all.

However, the types of gambling that the South Africa government has made legal are very few. They don't include online casinos. Here is a list of gambling activities legalized in SA.

Land-based casinos
Land-based casinos take a huge share of the gross gambling revenue, over 70% of it. You'll be even more impressed to learn that there are only 38 casinos operating in the country, and yet, they produce so much revenue.

Limited-payout machines
These are land-based slot machines that have a cap to the amount of money you can win. They are popular at bars or gaming venues. Essentially, they feature the same games you can see in an online casino South Africa.

National Lottery
Many operators are licensed to conduct the lottery. You can buy tickets online and offline to benefit from a slim chance of winning a large sum.

Many people turn to the lottery as a way to try their luck and receive a chance or getting rich. In South Africa, they can legally do that. Buying foreign lottery tickets is forbidden, though.

Sports Betting

Betting on sports events is another popular way of gambling in SA. You can do that at a licensed bookmaker's online or offline. There is a growing number of services that bookmakers offer, and sports betting is soon to outperform betting on horse racing in the share of gross gambling revenue.

What changes can be put in place

There is a project that the government was working on for over two years now. It's called National Gambling Amendment Bill, and it spells trouble for online gamblers. The main idea of the bill is to tighten up the gambling industry.

It bans dog races, places more strict regulations on casinos and slot machines, and limits the areas in which a legal gambling business can operate. Most importantly, however, it allows the authorities to forfeit all unlawful winnings and transfer them to the National Gambling Regulator.

What does it mean for you
The new bill means you are in trouble. If the government learns that you have withdrawn money to your bank account, it can confiscate it. In fact, South African authorities have already seized over R1 million from gamblers. If things don't change, you may be next.

It may be best for you not to use bank transfer or credit card as a withdrawal method at online casinos and look at the alternatives instead.
Join Bulawayo24 Online Community
Source - Byo24News

Subscribe

Email: