Current state of online casinos in South Africa and crypto influence

In 1996 the National Gambling Act was enancted and it created policies which legalized and regulated more forms of gambling. The legislation established the National Gambling Board (NGB). With this act, each province in South Africa had the authoriyt to establish their legislation on gambling within their geographical locations, while this act limited the numbers of casinos in all of South Africa, and the numbers for each province.

Howevere, online casino is illegal in the South Africa, these has always been a controversia subject, with reformers wanting to open up the market in other to generate more revenues, traditionalist are keen to maintain the heavy restrictions that are currently in place, as a result of leaving players to find more innovative ways of accessing the wealthy online casinos, which allow citizens to register offshore South Africa. Furthermore, liberalisation took place with 2004 National Gambling Act, the new laws opened up a range of sports betting and other opportunties for physical casinos or land-based, same could not be said for online casinos providers, the only form of online gambling activity legal is sport betting, and online sportbooks must be licenced by one of the provinces.

Therefore, in 2008 amendment passed to completely legalize online gambling, but it never got enacted, leaving casino lovers in tricky position. Moreover, there was a setback in 2010, after the courts ruled that it was illegal for online casinos that are based outside of South Africa to offer service to the countrys citizens.

However, there is a new sign of relief after the reports coming out at the recently held policymakers in South Africa, were they met to discuss the state of gambling in the country. The event, 15th Gaming Regulators Africa Forum, brings together policymakers and stakeholders in the growing gambling industry to discuss several issues, although the focus is on growing popularity of casinos, regulations and for business environment to be friendlier for investors, and online casino gambling. Furthermore, and a proposal to open up and fully legalize online casinos. Punters can count on exciting times ahead.

This positive move was proposed by Mr Mlungisi Mvoko Minister of the Executive Council Economic Development as stated that all forms of gambling should be legal in the country. With its legalization, the government can generate more increase in tax revenues and can also create more jobs, the minister also shared another point by saying the important of technologies in the industry as quoted by him he said he belives in the prospects of online gambling in the region and more importantly the inclusion and use of cryptocurrency coupled with regulation, gambling can serve as an effective source of income for government.

He added that these new technologies can help shape the gaming industry to drive home point; he used the example of cryptocurrency like bitcoin, according to the minister, the use of bitcoin (cryptocurrency) has revolutionized the way consumers and investors transact business online. This statement of Mr. Mlungisi Mvoko only validates the existing beliefs of many stakeholders in the business. The use of bitcoin can help change the way business is conducted and be more transparent.

However, across the globe, only South Africa registers any significant Bitcoin (BTC) adoption in the retail scene as far as Africa is concerned crypto regulatory issues have always been a major concern for cypto, digital assest exchange and custody providers when it comes to expanding their business. A good example of Bitcoin users in the country, a study conducted by we are social Hootsuite shows 10.7% of internet users in the country own cryptocurrency making the country the highest ownership ratio of crypto users in the world.

The use of bitcoin can help change the way players enjoy casino game, Punters can enjoy privacy, convinience and anonymity. The use of cryptocurrency for online casino transactions will also provide players with quick way to fund their accounts and request money from casinos to complete your transaction, you only need your crpto walllet and email address and the fund can be credited to the account instantly.

Written by Adeleye Awakan
Associate/Editor www.gbc.ng Africa’s leading digital gaming magazine. For consultant on gaming in Africa, Marketing, PR, Advertising, and Thoughtful leadership article contact: [email protected]

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