South African Gambling

The June 12, 2023, By Takato Sugihara

Although a global recession is under way, bookmakers worldwide are gearing up to make a mint on the upcoming wolrd Cup football games. online casino news: South African Gambling

However, with the value of bets rising to the level of billions of dollars, how does the hosting country itself enjoy these profits?

It seems that financial institutions in South Africa are threatening customers with strict legal repercussions if they are found to be indulging in internet betting activities. On the other hand, making a bet with your local bookie is perfectly legal, and these unqualified statements are tarnishing the reputations of the majority of legally licensed betting operators in South Africa.

In South Africa today, there are a myriad of operator who offer betting products without legal permit, or even knowledge, of the local gambling Board. No individual entity, however, is allowed to offer any form of betting unless they have met the conditions of an very stringent investigation process, and the Gambling Board’s prime purpose is to the ensure that the South African betting market is controlled and monitored to ensure the safety, legality and security of both the bookmaker and the public. In addition, most of these non licensed companies operate outside the boundaries of South Africa, and clients using their services often have no legal recourse should the deal turn sour. Of course, it is South Africa’s interest that it’s money not be exported as well.



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