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A South African legislator is preparing to introduce a bill that would allow the country’s residents to legally enjoy online gambling. Under the country’s 2008 National Gambling Act,
Sports Betting is the only permissible form of online wagering, but the new law would authorize operators to offer additional gaming products.
Hill-Lewis envisions a scenario in which provinces would be able to set their own taxation rates, but gaming attorney Wayne Lurie believes a national rate would be fixed to avoid provinces undercutting each other.
Lurie suggested a 6% tax on gross gaming revenue is likely, 70% of which would be kept by the provinces with the national government collecting the rest.
As written, Hill-Lewis’ bill would require online operators to apply for separate licenses in each of South Africa’s 10 provinces, similar to the regulatory situation in Australia.
Provincial licensing agencies would be responsible for vetting each applicant seeking to do business within their territory –
be they operators or technology suppliers – but a national board would be established to ensure consistent “norms and standards” across the country. For example, gambling on credit would not be permitted in any form.
SOURCE
Sports Betting is the only permissible form of online wagering, but the new law would authorize operators to offer additional gaming products.
Hill-Lewis envisions a scenario in which provinces would be able to set their own taxation rates, but gaming attorney Wayne Lurie believes a national rate would be fixed to avoid provinces undercutting each other.
Lurie suggested a 6% tax on gross gaming revenue is likely, 70% of which would be kept by the provinces with the national government collecting the rest.
As written, Hill-Lewis’ bill would require online operators to apply for separate licenses in each of South Africa’s 10 provinces, similar to the regulatory situation in Australia.
Provincial licensing agencies would be responsible for vetting each applicant seeking to do business within their territory –
be they operators or technology suppliers – but a national board would be established to ensure consistent “norms and standards” across the country. For example, gambling on credit would not be permitted in any form.
SOURCE
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