Is South Africa the Next Gambling Frontier? South Africa is enjoying sustained growth and progress amidst global economic concerns. The country is seen as the world’s next gambling frontier as its economy continues to flourish. Investments have been overflowing as South Africa spearheads the sub-Saharan economies. It aims to advance toward the higher echelon of emerging economies which are dominated by China, Russia, and India among others.
South Africa the Next Gambling Frontier
Gambling is legal in South Africa, and is regulated by the National Gambling Act of 2004. The Act established the National Gambling Board, which is responsible for regulating and overseeing the gambling industry in the country.
Industry experts predict that this upward and sporadic growth will transform South Africa as the next gambling frontier in the world. Investors are optimistic that the country will position itself as a destination location for tourism, which will promote gambling, entertainment, and leisure. The big idea now is how to establish licensing casinos and online gambling.
Gambling activities that are legal in South Africa include casino games, sports betting, lottery games, bingo, and horse racing. There are a number of land-based casinos and racetracks located throughout the country, as well as a number of online gambling operators that are licensed to offer their services to South African players.
Establishing Gambling Regulations in South Africa
It’s a given fact that South Africa is an ideal location for casinos and amusement resorts. It’s not surprising that popular casino brands will be making their presence felt in the country as well. This complements South Africa in terms of being identified as a tourist destination.
The greatest challenge now is how African nations will consolidate laws and regulations that will govern the local casino industry. There is a current set of gambling rules and regulations but gambling investors feel that it’s not relevant and applicable to present gambling operations. In other countries take more or less than 10 years before appropriate laws are implemented
“Plenty of the countries have amended their legislation and have brought in regulatory frameworks but others haven’t. Politically, they are struggling to get the legislation amended or new legislation enforced. But there’s an appetite, because of course it is revenue. So the longer you take. If you don’t legalize it, you can’t enforce rules and regulations. So there’s an appetite there.” said Dawid Muller of Giordani Ltd.
Gambling in African Nations
Gambling is legal in many countries in Africa and thus making South Africa the Next Gambling Frontier. It is a popular activity for many people on the continent. There are a number of land-based casinos, racetracks, and other gambling venues in African countries, as well as a growing number of online gambling operators that are licensed to offer their services to African players.
Gambling activities that are popular in Africa include casino games, sports betting, lottery games, and horse racing. In some countries, traditional forms of gambling, such as betting on animal fights or games of chance, may also be popular.
Overall, the gambling industry in Africa is diverse and rapidly evolving, and players have a number of options to choose from when it comes to finding a reputable and trustworthy operator.
African Nations Keen on Establish Regulations
The great news is that South Africa the Next Gambling Frontier as it is open to learning how properly regulate the gambling industry. African Nations are interested in joining regional conferences and associations, which will enable them to trade insights with countries that have established gambling models.
European countries are also interested to lend a hand in terms of establishing apt gambling regulations. Tourists will be coming from that side of the world so it’s only fitting for these countries to help out in processing legislation.
“If Africa opens up, there’s going to be online gaming, their people will play in Africa. My message to them is that rather than assist Africa, most of these regulatory models in Europe and other parts of the country have been designed and developed, and tested. Let Africa share these lessons learned.” Muller said. “
What do you think of the current gambling regulations in South Africa? Will the country achieve more economic growth once regulations are established?
