South Africa Internet Gambling Regulation Begins

Discarding the prohibition imposed by the US and several other less enlightened countries, South Africa will combat uncontrolled online gambling by placing rules to allow huge competitive advantage to licensed Internet casino operators.

After struggling to control illegal online casino gaming, South Africa is set to implement regulations which will give the country control of Internet gaming. Discarding the prohibition imposed by the US and several other less enlightened countries, South Africa will combat uncontrolled online gambling by placing rules to allow huge competitive advantage to licensed Internet casino operators.

The country's National Gaming Board expects authorities to approve its final regulations for online gaming within the next few months. The rules will stop advertising by unlicensed casinos, and require residents who wish to play to set up accounts with banks strictly to fund Internet gambling.

Accounts will be monitored, and maximum deposits will be set at just over $2000, to prevent irresponsible gaming and protect problem gamblers. As many as ten online gaming licenses will be issued, and government officials promise to strictly enforce the new rules.

The country has already successfully blocked payment to gamblers playing at illegal foreign gaming sites, and will encourage citizens to take advantage of the protections available at legal and regulated online gambling venues.

Licensed online casinos will also be taxed, the rate being set at six percent of gross gaming revenue. Officials promise to continue to explore ways to favor the sites that follow rules and restrictions over unregistered gaming sites.