Online gambling looks as if it will be legalized in South Africa in the coming few months through the Remote Gambling Bill, spearheaded by Geordin Hill-Lewis as it heads to Parliament. Currently, residents of South Africa are only allowed to gamble in licensed, brick and mortar locations, or using sportsbooks online. A very small amount of online gambling outlets exists in the country as many patrons are wary of sites being shut down, with their money still living in their accounts on the site.
The South African gambling industry is currently performing well, paying the government R2 billion worth of taxes from R16.5 billion in revenue. A cap for licensed gambling outlets exist in the nation, that figure being 40. Currently there are already 37 licensed establishments leaving merely 3 more licenses for growth. With just .6% growth last year in the sector, lobbyists and legislators are pushing for growth in the industry.
The new legislation will place the responsibility for granting licenses on the shoulders of the states and the National Gaming Board, with the NGB accepting a larger role and centralizing the approval process.
In a world that is continually moving towards the internet and digital presence, expansion for large, brick and mortar gambling houses into online offerings is a major opportunity. The ability to open another revenue stream while expanding brand awareness is something that many firms are looking forward to, pending a pass of the law in Parliament. It allows once localized companies that depended on foot traffic to offer their product to a market encompassing the world’s internet population.
Should this law be passed into effect, the gambling market could turn into a very competitive one in South Africa with the biggest players jockeying for position atop the online ranks.
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