PokerPages News: South Africa Approves Online Poker, Internet Gambling Regulation Bill

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(Reuters) – South Africa’s 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 in Africa’s biggest economy 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.

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