|It would appear that the South African government is to follow in the footsteps of the UK, as local media reported that a draft amendment bill appointed by the Cabinet last week is to be finally passed into law.|
The South African gambling industry has had a frustrating wait for its government to draft regulations to legalise internet gaming, according to Business Day, commenting that provincial governments have been losing out on an additional source of tax revenue as well.
Trade and industry deputy director-general Astrid Ludin told the newspaper that the draft bill proposes a licensing system for both the players and the online gaming websites, yet the taxation strategy, like in the UK, has still to be determined.
Online gambling in South Africa had been outlawed by the National Gambling Act of 2004, under the premise that more research was needed into the regulatory frameworks of markets in the UK, the US and Australia.
Trade and Industry Minister Mandisi Mpahlwa was given two years to draw up regulations to govern internet gambling, which will be regulated in terms of the proposed Gambling Amendment Bill.
Estimates by international market-research companies suggest that the global gambling industry could triple to $25 billion a year by 2010.