South Africa moves forward to regulate online gambling

South Africa moves forward to regulate online gambling The parliament of South Africa, the largest economy on the continent, has passed the internet gambling law which aims to regulate the industry in the country. A memorandum attached to the National Gambling Amendment Bill, which condemns the online gambling industry as "plagued by crime" also read: "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...The purpose of this Act is to ensure that all gambling activities are conducted responsibly, fairly and honestly (and to) protect minors and other vulnerable persons from the negative effects of gambling."

The new online gambling law will aim at the negative effects of gambling online, including money laundering, addiction and player protection. According to the bill, every player in South Africa will have to register with a licensed online gambling company and will be required to submit an affidavit to prove he/she is over 18 years old. The newly passed online gambling law also allowed for an electronic monitoring system to help root out potentially addictive behavior and restrict credit extensions to players. The president of South Africa Thabo Mbeki must still sign the bill into law before it comes into effect. If he does, the South Africa's National Gambling Board will be responsible for enforcing the new online gambling law.

Published on 05/19/2008