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South Africas New Online Gambling Law
Internet gambling is not regulated in South Africa, but has been technically illegal. However, South Africa’s parliament has just passed new legislation legalizing and regulating the industry, and the law is primarily aimed at dealing with the negative effects associated with gambling.
The legislation deals specifically with issues of problem gambling, player protection, licensing, taxation and advertising. The law also provides for registration of users with licensed gambling sites, and the requirement that users sign affidavits confirming that they are of the age of majority. In addition, there is provision for a mechanism to monitor addictive gambling behaviors and to limit credit where appropriate.
The new laws attempt to address an industry that is reportedly beset with crime and is vulnerable to money laundering and terrorism financing. There is also an economic incentive for the government to regulate this industry to ensure that taxes associated with gambling revenues are properly remitted.
For additional information, visit:
http://africa.reuters.com/top/news/usnBAN950662.html