Big Africa Summit's Online Gambling Focus

Published Wednesday, October 09, 2013 - Online-Casinos.com
Big Africa Summit's Online Gambling Focus

Each of South Africa's nine provinces has a gambling and racing board. To offer online betting bookies must be licensed by one of these boards and currently the Western Cape Gambling and Racing Board is largest provider of online bookmaker licenses. This board licenses 32 online bookmakers. South African residents can use these online betting sites legally. For bets involving horse racing 6% is deducted from winning to cover a Value Added Tax and as of May 2012, no additional tax is charged to recreational punters, and recreational gambling winnings are not considered income for income tax purposes.

The online gambling industry will be the focus of The Big Africa Summit 2013, is scheduled to take place November 4-6, 2013 in Johannesburg, South Africa, and it will be one of the biggest events of the year.

The main thrust of the event will be the technological aspect and its various applications. Looking at the industry with a five year prospectus the Summit will be able to address the many issues facing the online gambling industry in South Africa. The advent of social online gambling will be on the agenda as well as the changes in the methods employed for payment.

The National Gambling Act 2004 prohibited both offering interactive gambling services and engaging in interactive games (games on the Internet). The National Gambling Amendment Act of 2008 that was published in July 2008 was meant to be an attempt to legalise interactive gambling in the country and make provisions for the regulation of this market.

The Amendment Act was aggressively confronted by interested parties such as land-based gambling houses and anti-money laundering authorities. For this reason, the Act hasn't been enacted as yet. On 20 August 2010 even online gambling offered through servers located outside the country was banned in South Africa. This was the result of the North Gauteng High Court judgement on the jurisdiction of online gambling transactions in the country. Consequently, both offering gambling services online and gambling online became illegal. The only exceptions are province licensed horse racing and online sports betting.

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