New rules for online gamblers
2008-05-19 19:02
Cape Town - Parliament approved a new internet gambling law to regulate an industry plagued by crime and vulnerable to money laundering and terrorism financing, parliamentary papers showed on Monday.
A memorandum attached to the National Gambling Amendment
Bill said the interactive gambling industry was currently unregulated and "generally plagued" by crime.
"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," it said.
The new bill aims to address the negative socio-economic
effects associated with gambling and deals specifically with
issues of problem gambling, player protection, licensing,
taxation and advertising.
Every online player would need to be registered with a
licensed interactive gambling provider and submit an affidavit
to ensure they were older than 18 years.
"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," it said.
The bill also allowed for an electronic monitoring system to
help root out potentially addictive behaviour and restrict
credit extensions to players.
President Thabo Mbeki must still sign the bill into law
before it comes into effect.
The US, a major market for website punters, recently banned online gambling, hitting revenues at sites offering a variety of games, including blackjack and roulette.
According to the National Gambling Board, which
will enforce the country's new laws, revenues across all forms
of gambling, excluding internet, increased to R13.5bn
in 2006/07 from R6.2bn in 2001/02.