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South Africa President, Thabo Mbeki, has signed off on the National Gambling Amendment Bill, which allows for legalized online gambling in that nation. It was not yet clear when the new law would officially go into effect (i.e. When operators can start accepting bets). This is certainly great news for bookmakers with the 2010 World Cup being hosted in South Africa.
The South African National Gambling Amendment Bill (the "NGAB") legalizes online gambling in South Africaand establishes a licensing and regulatory system for this industry. NGAB curtails the negative socioeconomic effects of an unregulated online gambling industry. The NGAB is still pending signature by the South Africa's President.
In May 2008, the South African Parliament approved new legislation regulating online gambling in South Africa. The NGAB was drafted in response to a report conducted by South Africa's National Gambling Board (the "Board"), which found that the National Gambling Act 2004 had to be amended to include regulations for online gambling. NGAB's objective is, "to provide for the regulation of interactive gambling so as to protect society against the stimulation of the demand for gambling; to provide for the registration of players and opening of player accounts; to provide for the conditions applicable to interactive gambling licenses; to provide for further protection of minors and other persons vulnerable to the negative effects of gambling; ... to prevent gambling from being associated with crime, money laundering or financing of terrorist and related activities."
The NGAB establishes rules for online players' registration and allows Websites to exclude certain group of players. It also requires that online gambling providers afford fairly treatment to their registered players. Dispute resolution procedures between players and online gambling operators are also set forth in the NGAB.
This situation has resulted in a considerable loss of revenue to the national fiscus and compromises the country's reputation as a responsible global citizen," parliamentary papers said.
The new bill aims to address the negative socio-economic effects associated with gambling and deals specifically with issues of problem gambling, player protection, licensing, taxation and advertising.
Every online player would need to be registered with a licensed interactive gambling provider and submit an affidavit to ensure they were older than 18 years.
