South Africa is not the first country that crosses our mind when talking about online gambling but the changes have already begun and it’s clear as day that pretty soon we will be introduced to a new gambling market.
Member of the executive council (MEC) of Eastern Cape economic development Mlungisi Mvoko is sure that gambling in any of its forms should be legalized in South Africa. He believes that this will create new jobs and increase tax revenues. Considering the region’s problems with workplaces and the absence of proper financing gambling policy should be reconsidered and Mvoko is ready to take the brunt.
Tax revenue can be higher
More and more players from South Africa are interested in online gambling and casinohex.co.za is a place, where locals get recent data and news. Every day hundreds of users from South Africa are looking for information when online casinos will be legalized and this interest deserves a response. Such attention was addressed by Mlungisi Mvoko on the 15th Gaming Regulators Africa Forum that took place in Port Elizabeth at The Boardwalk Hotel.
The MEC told delegates about the benefits online gambling has already brought to the Eastern Province and shared predictions for the future. He is sure that with the improvement of technologies and the fourth Industrial Revolution, gambling can significantly increase revenues of Eastern Cape. He understands how complex and time-consuming the process maybe but it is impossible to ignore the popularity of online casinos and all the benefits they can offer.
Mvoko also emphasized the merge of cryptocurrencies and online gambling, explaining how the value of Bitcoin and other digital coins have increased over the past few years. Online gambling blends with cryptocurrency and new technologies, leading to new market offers and opportunities. In addition, crypto transactions make the process safer and quicker, protecting the player’s identity and assets.
This year’s conference was called ‘4th Industrial Revolution and its influence on Gaming in Africa’. Participants included representatives from Angola, Ghana, Botswana, Kenya, Zambia, Zimbabwe, Mozambique, Mauritius, Swaziland, Uganda, Namibia, Seychelles, and South Africa.
They gathered to discuss the changes in the global economy and the influence of those changes on the gambling industry across the world. The African market still has plenty of space for new participants and without doubts, online casinos may greatly contribute to the continent’s wellbeing and prosperity.
Revenues could help sectors that suffer
The global economic crisis has created tremendous losses in the Eastern Cape economy, which mainly relies on tourism and manufacturing. Mvoko is sure that tax revenues will cover those losses and support struggling sectors to survive. Thousands of families will be able to exhale with relief having a place to work and enough money to support their loved ones.
He told about Eastern Cape, where tourism and manufacturing were the key creators of jobs and contributors to the country’s income. Thus, it’s crucial for the province to find other industries that could diversify the economy, create new workplaces, and bring money. Legalized gaming is one of the best solutions so far.
Mvoko is sure that the gambling industry will boost economic growth and will help the province to overcome instability and poverty. However, this will be possible only with a clear plan of actions, comprehensive support of the government, and responsible actions of all participants.
Gambling in South Africa
It will be fair to say that gambling is legal in South Africa. Especially after 1994, when Democrats came to power and the industry was legalized. In 1996 a National Gambling Act was introduced, which contained regulations of the gambling industry including horse racing and licensing of land-based casinos.
However, online gambling is still roughly regulated and no one is able to access an online casino using a South African IP unless a person enters a website that is licensed by a gambling board. And the license is given only to sports betting websites: other gambling forms are restricted.
That is when Mvoko steps in and wants to change the rules. But South Africa’s position is rather firm: they believe that online gambling is potentially harmful, especially to vulnerable society members. We believe that this is the main reason why Mvoko will have to face lots of challenges when trying to contradict the government and to change the law.
Online gambling for everyone
It is impossible to find a person, who is indifferent to online casinos: some consider them pure evil, while others don’t mind making a few bets and spinning the wheel of fortune. We think that Mlungisi Mvoko’s goals are more than noble. Increasing the number of workplaces and helping the province to become richer definitely outnumbers fears of the government. Who knows, maybe very soon South Africa will open its doors to online casinos?