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Online Casino Firms Drawn to South Africa

A spokesperson for British bookmaker and online casino firm Bet Fair has confirmed that it has recently applied for a gambling license in South Africa. If granted, the license would allow the online casino company to add South Africa to its list of international markets, giving local casino players access to a wide range of games along with the company’s popular betting exchange.

The South African government is currently debating on whether or not to legalize online casino gambling in the country’s provinces. A report issued by a special government committee in 2005 has stressed the importance of protective legislation and regulation of online casino operators working in South Africa. The online casino industry, while illegal, has proved increasingly popular with casino fans in recent years.

Bet Fair first began to investigate South Africa as a potential destination for investment nearly two years ago, attracted by continually low interest rates. The online casino firm also stated that South African is an important region for its business due to its close cultural ties with Australia and Europe. The company is currently in talks with the country’s National Gambling Board to clarify its policy on online casino gaming.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.