Months ago, as online gambling news in South Africa report, the Rainbow Nation government prohibited online gambling sites from offering betting opportunities to its citizens. In addition, the ban applies to offshore outfits.
Moreover, the ban got extended from simple online slots to other games, including the games of skill offered at online poker sites in South Africa . This has led to many unregulated, and often criminal, casinos to provide underground online and mobile gambling to unsuspecting South Africans.
Proliferation of unauthorized online casinos is costing players millions in forfeited wins. Many illicit betting sites offer slot machines that only give small wins to entice players, while the promise of a huge win with progressive jackpots is never reached.
This has led South African regulators to reconsider legalizing Internet and mobile casinos in South Africa as a way to control and oversee the operators in order to have a fair play. In addition, gambling revenues can massively contribute to state coffers while creating badly needed jobs in this African nation.
As the legislators propose, the eventual casino licenses would be handed to only a few of reputable companies with strict controls. This could also allow the law enforcement officials to monitor the sites in order to uncover money laundering by criminal associations as well as prevent funds from being raised for the terrorist operations. Furthermore, the casinos granted the licenses would need to do better at identifying the actual ages of its members.
Those online casinos lucky enough to receive the license will need to comply with a very strict Financial Intelligence Centre Act. On the other hand, an online betting license in South Africa can rake in some very serious profits.
Thus, it pays to follow South African gambling laws ongoing developments.