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South african law on online gambling

Overview of South African online gambling law, with a recent history and likely developments in legislation awaiting finalisation. Online gambling in South Africa is a bit tricky. How can a place with so many high-quality online casino options have a law that prohibits playing at an online casino? Take a look at our exclusive guide to the best rated legal South African online casino sites which we have carefully selected, offering the great deals.

Online Gambling in South Africa

There are many different options available to players living in South Africa in regards to just how you can fund any online casino account, ban cards including both debit and credit cards can be used, and also there are a very wide range of web wallets that can be used not only to send money into an online casino account but can be used as a way of having any winnings you make sent back to you form an online casino site. Online sports betting, online horse race betting and the business of bookmaking is lawful in South Africa, provided that the person conducting such business holds the necessary provincial bookmaker's licence s , or is using a website with proper licence s. This will ensure you find a site offering you the type of games you want to play and will enable you to locate a gaming platform that you are comfortable using. However, when democracy became the rule of the land in the mids, the Gambling Act of yesteryear was replaced with the National Gambling Act of today. Legal South Africa Online Casino Sites — Online casinos tend to offer some huge suites of different casino games, and should you have an interest in games of chance and the legalities of playing them online from South Africa then please do take a look at this particular guide. Write for us Advertise About us Contact us. You know how brick-and-mortar casinos are few and far between?

  Interesting Fact about casino

 

  •   All casinos are built on the principle of the most tangled labyrinths. In the gaming halls there are no direct passages. Because the longer a person walks along the aisles, the more likely that he will play in the meeting slot machines and gambling.
  •  The annual profit from the gaming industry in the US is 18 billion dollars.

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The NGB or as they are also known the National Gambling Board is responsible for overseeing and regulating the land based gaming venues in South Africa.

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It is currently deemed to be illegal to gamble at an online casino in South Africa however some online betting sites have been given licenses allowing them to accept wagers from citizens and residents of South Africa. However, even though online casinos are deemed to be illegal in South Africa there are large numbers of online casino sites that are based outside of South Africa who do market their services to players based there, and as such as a player you will certainly not find a limited number of casinos sites online are available to you are there are quite a lot of them at which you will be able to play any of their respective casino games for real money.

If you do have an interest in gambling online and have been actively seeking out a range of online casinos at which to play at then the following guide may be of interest to you, and in it we will enlighten you on which sites are licensed in other respected Commonwealth countries and we will also present to you the answers to many questions first time online casino players in South Africa will be looking for the answers to.

If you are looking to play casino games online for real money then below are the most frequently asked questions regarding the online gaming environment, and underneath each question is the most relevant answer to each respective question. Also each online casino will have their own payment schedule and as such always try and pick online casinos to play at that pay you the same day as you request a winning payout if you can or pick site that never make you wait more than 48 hours to get paid your winning payouts.

Not at all shy, though I like to take initiative on the part of Man. 200. 189. Turns out he was gay. However, do not take hold of me t I am a playful, pretty, very sweet and cheerful young lady. Оказывается она тоже желала заниматься сексом с этим иностранцем и поэтому начался самый качественный трах. Её выдавало слегка участившееся дыхание, и краска на щеках.

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Details

Until relatively recently, online gambling law was quite a grey area in South Africa. The main reason for this was that the relevant laws and statutes covering gambling were not up to date in terms of these new forms of gambling made possible by the Internet. So online gambling and poker became popular among South Africans. The most well-known "local" online casino, Piggs Peak situated in the neighbouring territory of Swaziland , offered both online casino gambling and online poker to South African players.

It flourished for a good few years. Then the situation changed, as the spotlight fell on this hitherto effectively unregulated industry. The South African government promulgated the National Gambling Act of , which made it illegal to engage in what it termed "interactive gambling services" and the offering or advertising of these services for South Africans. By "interactive" the law refers to Internet games. This covers both casino games and poker games, whether offered by operators inside South Africa or outside of its borders.

But there is an important distinction that is identified. While online casino and poker games were made unlawful, online sports betting and online horse race betting were specifically made legal.

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This is as long as the operator is fully licensed by one of the South African provincial gambling licensing boards. So, for example, the most popular South African sports betting website, SportingBet, is fully licensed by the Western Cape Gambling Board and operates completely legally inside the country. It is used by thousands of sports bettors every day.

In the meantime, however, Piggs Peak continued to offer both online casino and online poker, effectively under the impression that online gambling offered from an offshore location was not adequately covered in the Gambling Act. They took this all the way to the North Gauteng High Court in an effort to get a legal stamp of approval on their services, but were ultimately unsuccessful and were forced to bar South Africans from playing.

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Behavioral economics gambling

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The theory suggests FS purchases fall into the high involvement and rational segment of the model. This is due to the relatively high cost of FS products and that purchases are more about logic and less about emotion. But what does the evidence from experiments in behavioral economics and neuroscience indicate about rational decision making in the face of risk and uncertainty? This view increasingly looks misguided and is probably a fallacy created by our own minds to make us feel in control of our behavior.

As Mark Earls points out in his book Herd:. Behavioral economists Dan Airely and Nobel laureate Daniel Khaneman have uncovered strong evidence that rational decision making is often an illusion.

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Dan Ariely found that just thinking about money makes people more selfish, self-reliant and less charitable. Insight identified from behavioral economists challenge many of the basic assumptions of traditional economics and related theories of decision making. Some of the Key insights are:. So what specifically does behavioral economics have to say about FS decision making? Three cognitive principles form the basis of the theory:.

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Extensive research has been undertaken to estimate the psychological value of losses and gains. These studies have identified a loss aversion ratio of between 1. This means that a loss that is identical in money terms to a gain is valued up to 2.

Interestingly, professional risk takers such as fund managers are more tolerant of losses. This may be because they are less emotionally aroused than the amateur investor. Loss aversion leads to predictable behaviours in a number of situations:. I observed an example of this when I worked for a large UK life assurance company. We developed a Guaranteed Capital Bond that protected your initial investment and provided some limited potential to benefit from any rise in the stock market.

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