How Zimbabwe Regulates Online Gambling

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Online gambling is becoming increasingly popular worldwide, as many countries have started to legalize the pastime. Playing the likes of poker, slots, or roulette cannot only boost a nation’s economy but can provide a fun form of escapism when played responsibly.

Many African countries have followed in the footsteps of the likes of the UK, Germany, France, and Spain by legalizing online gambling. In Zimbabwe, casino games are starting to rise in popularity, which has led to regulations being reviewed and improved in recent months. Learn more about how Zimbabwe regulates online gambling.

The 1998 Lotteries and Gambling Act

The 1998 Lotteries and Gambling Act is the main aspect of Zimbabwe’s gambling legislation. It legalizes all the popular games of chance for gambling businesses that have obtained a license from the Lotteries and Gambling Board. Thanks to a 2002 amendment to the act, you can trust that online gambling is legal across the country. Unfortunately, up until 2022, Zimbabwe’s gambling industry was poorly regulated, which has led to various improvements to protect players and the nation’s economy. It has deployed new technologies to curb unauthorized online activities across the country to prevent money laundering. Of course, players are advised to choose websites with caution by reading online reviews of websites and understanding the dependable payment methods accepted in most online casinos with licenses.

For example, PayPal is a smart choice when placing a bet online, as it serves as a reliable intermediary between an online casino and a player’s traditional bank account. As a result, they can trust each payment will be made securely without divulging much of their personal information to a casino. As a result, it can reduce a player’s risk of identity theft and fraud, which will create a safer gaming environment for a casino’s customers.

The Gambling Legal Requirements in Zimbabwe

Players must be at least 18 years old to gamble online or at a land-based casino in Zimbabwe. Also, players will pay taxes on any money won. For instance, players will pay 10% for winnings on horse betting or pool betting, and they must pay a 15% tax on casino games. As Zimbabwe doesn’t have its own currency, players can place bets using the US dollar, Euro, ZAR, GBP, and INR, to name a few currencies.

The Importance of Gambling Regulations in Zimbabwe

The nation’s history of poor gambling regulation stems from the fact that the form of entertainment wasn’t always popular in the country. Its low level of gamblers wasn’t due to a lack of enjoyment when playing poker, slots, or blackjack, but it was caused by the nation’s limited internet access.

However, online gambling has increased in popularity in Zimbabwe in recent years, as more African households have access to the internet than ever. The country reportedly has more internet users than other nearby African countries, such as Botswana and Mozambique. With more people using the internet than ever and online gambling growing in popularity across the country, it is more important than ever for the government to regularly review and amend its regulations to protect its citizens and economy.

Conclusion

Various factors have prevented Zimbabwe from capitalizing on online gambling throughout the years. Yet, the nation is starting to take advantage of virtual casinos by improving its Lotteries and Gambling Act, technology deployment, and internet access. By doing so, Zimbabwe is helping to create a safer online gambling environment for its citizens and a more prosperous economy. Of course, like any nation, it is vital for the government to regularly review and amend its legislation to continue to protect online gamblers, legal betting sites, and the country’s future.

Source: zimbabwesituation.com