ANGOLA BETTING Angola authorizes betting and online gambling with licenses for 10 years 3 years ago Iwo Bulski Post Views: 1,554 The Angolan Government published the regulation that establishes the rules for companies interested in the online gambling and betting business, practiced at a distance through electronic, computer, telematic and interactive media or by any other ways. In the African country, the licenses will last for 10 years and anyone who has regularized contributory and tax status may apply. The authorization, signed by President João Lourenço, establishes that the so-called “remote online gaming” will be marked and framed in a perspective of supply and demand and in which the principles of preventing excessive gambling will be safeguarded. Among the various conditions imposed on interested companies, they will have to have a bank account with an Angolan financial institution, as well as identify all their shareholders. It is also mentioned that the payment of the prizes will be made in national currency (kwanza) and through bank transfers. The new regulation establishes that the entities will have to install and maintain a technical system for the exploitation of online gaming and betting, create a registration and an account for each player, define the bonus allocation policy, as well as pay the prizes in the amount informed. Companies are also required to have a bank account at an Angolan financial institution, at a national address, for all transactions related to the activity of online gambling and betting, as well as ensuring compliance with current Angolan laws on the prevention of money laundering and financing of terrorism. The regulation also states that the totality of the share capital of the exploiting entities must be represented by shares, which allow the issuer of the license to know the identity of the respective holders, being obligatory the communication to the body responsible for the supervision of games “all acts or businesses that imply the acquisition, transmission or encumbrance of these shares within 30 days, counting from the date on which the company became aware of the act or business in question.” Regarding the registration of players, the operating entities are obliged to have their personal data, namely full name, date of birth, nationality, profession, address and residence, ticket or passport number, as well as tax identification, e-mail address and bank account elements for payments. In return, players have the right to have their privacy and the protection of the data provided guaranteed and to know at all times the identification and contacts of the operating entities and, if they wish to submit a complaint, how they should proceed. Companies are also obliged to create mechanisms that prevent minors and or other socially vulnerable groups from registering. Presidential Decree No. 131/20, of May 11th, approved the Regulation on the Exploitation of Remote Online Gaming in Angola, considering that the approval of the Law on the Activity of Gaming allowed the laying of the bases for the exercise of this activity in the country. The regulations thus delimit and frame the supply and consumption of gambling, control its exploitation, guarantee security and public order, preventing excessive and unregulated gambling and addictive behaviour and practices, as well as collecting revenue for the State. Remote online gaming are games of chance and betting where any mechanisms, equipment or systems are used to produce, store or transmit documents, data, information, when practiced at a distance, using electronic media and computer systems. Source: GMB About Post Author Iwo Bulski Issues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. See author's posts Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. 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