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Most Recent Online Casino News
SA Online Casinos Set to be Licensed in Africa
The government has taken its first steps to legalize
online gambling.
It has published the National Gambling Bill, which deals with online
gambling, among other issues.
Online gambling is done through Internet casinos which run off secure
software that players download. Players deposit and purchase credits via
bank deposits or credit cards.
Research has shown that Internet casinos usually pay out larger
percentages than land-based casinos as they have fewer overheads and
need to attract players.
The two major Internet casinos that deal in rands are
www.piggspeak.co.sz and Silversands.
Internet casinos are generally licensed internationally and operate in
various currencies.
Neil Dundas and Warren Weertman, from Sandton law firm Bowman Gilfillan,
said that for a long time, governments all over the world hoped that if
they ignored online gambling for long enough, it would go away.
"The fact remains that Internet gambling has not gone away. It has
flourished into a multimillion-dollar business and created thousands of
jobs."
"In 1996 South Africa passed the National Gambling Act, which is silent
on Internet gambling. However, it does state that gambling in South
Africa should be governed by a set of principles, one of which is that
gambling activities should be effectively regulated, controlled, policed
and licensed," the experts said.
Read the
entire article at:
iol.co.za
2004 Online Casino News Archive
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