[bigboydan]

This is something the U.S. should be doing instead of spending good money after bad trying to stop it.

BTW, Any SBR readers reside in South Africa? If so I'd be interested to hear your thoughts on this subject.

South Africa moves forward to regulate online gambling

The parliament of South Africa, the largest economy on the continent, has passed the internet gambling law which aims to regulate the industry in the country. A memorandum attached to the National Gambling Amendment Bill, which condemns the online gambling industry as "plagued by crime" also read: "This situation has resulted in a considerable loss of revenue to the national fiscus and compromises the country's reputation as a responsible global citizen...The purpose of this Act is to ensure that all gambling activities are conducted responsibly, fairly and honestly (and to) protect minors and other vulnerable persons from the negative effects of gambling."

The new online gambling law will aim at the negative effects of gambling online, including money laundering, addiction and player protection. According to the bill, every player in South Africa will have to register with a licensed online gambling company and will be required to submit an affidavit to prove he/she is over 18 years old. The newly passed online gambling law also allowed for an electronic monitoring system to help root out potentially addictive behavior and restrict credit extensions to players. The president of South Africa Thabo Mbeki must still sign the bill into law before it comes into effect. If he does, the South Africa's National Gambling Board will be responsible for enforcing the new online gambling law.

[treece]

i'm pretty sure nobody on sbr resides in south africa. this is a good law.

[Maledetto]

I live in Cape Town a couple months a year, SBR is known the world over. You'll be surprise where I have heard SBR mentioned.

Originally Posted by bbd

BTW, Any SBR readers reside in South Africa? If so I'd be interested to hear your thoughts on this subject.

Danny this law will change little. At Province-level gambling has been regulated for over a decade. This law is to reroute the money from the States to the National coffers. For the end user nothing will change. I guess nationally they can market themselves as a haven for new licensees, to earn more. Also some of the local players in the industry could get better exposure out there if they wanted to make a push into the international scene.

like the lance michael group
www.lmbookmaker.co.za

black pearl
www.blackpearlbetting.co.za

atlantis sportsbet
www.sportsbet.co.za

[BrentCrude]

The rand is the South African currency and one dollar gets you almost 8 rand.I played poker promos a few times from South African poker rooms and at first I thought they gave me free dollars and I was glad they were so generous in giving me a couple hundred bucks until a minute later it said ZAR which is the symbol for the rand.

[TeamPlayer]

The first step to correct our stupid gambling laws in the U.S. is for each of us to spend 5 minutes writing an e-mail to our congressman asking for regulation and full legalization. Please do so if you have not.

We have to have to make our voices heard as the religious right and the brick-and-mortor casinos have done alreaedy. (Because the brick-and-mortor casinos have been losing business to offshore internet sites, I believe they actually supported the UIGEA

[BigGame]

Am I seeing that correctly that those books charge a 6% tax on winnings?

[bigboydan]

Originally Posted by BigGame

Am I seeing that correctly that those books charge a 6% tax on winnings?

6% isn't all that bad compared to some of the Euro taxes.