According to the local media in South Africa, the South African government is following UK’s government route as it is going to pass into law a draft amendment bill legalizing online gambling. This would take action after a positive struggle to composing a draft with the new online gambling regulations.
South Africa’s Director of Trade and Industry told the media that the bill would regulate online gaming industry by licensing and overseeing both online gaming websites and players. Taxation, however, is still not finalized and needs more time.
The legalizing step of the government takes place after a thorough research of the regulatory frameworks in the UK, US and Australia by government. The research was a result of the National Gambling Act in 2004 which outlawed online gambling industry until profound conclusions are completed by the ministry of Trade and Industry that was given 2 years to do so.
Market research estimations were that the online gambling industry worldwide could triple to $25 billion per year by the end of the decade
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