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South Africa Says ‘Yes’ to Online Casino Gambling

After long delays and many high hopes, South Africa has joined the online gambling community. The South African parliament has approved the regulation of online casino gambling in the country following a long research into the matter. The National Gambling Amendment Bill creates the legal frame under which interactive gambling operators can license their business and work freely. Putting it in simple words – online casino gambling firms will be allowed to operate in South Africa. Firms that offer casino software will need to license in the country and once they have a national license they can offer their services to interactive gaming groups.

Under the new legislation, the government will insure that the services are safe and that all online gambling firms are legitimate. Each online casino group that appeals for a license will be inspected personally and only fit candidates will gain a permit to offer internet gambling to the South African people. Additionally, South Africa will take a part of the revenue and move it to the country’s treasury. The regulation process will make sure that the money is transferred and that everything is done according to the agreements and the South African law.

The next step for the bill is the National Council of Provinces. Once it’s accepted there it will be enacted and the program will become a reality. The South Africans are in for a wonderful experience of safe online gambling with the government making sure that underage players are kept out of the virtual casinos and that problematic gamblers are being taking care of and helped. This is the most reasonable model for any country. From one hand, the public’s freedom is kept and from the other, the gambling world is being observed and controlled so everyone profits: players, firms and the community.

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.

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