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South Africa legalizes online gambling
By Gene Koprowski
South African President Thabo Mbeki has signed a National Gambling Amendment Bill into law, just a few months after the bill was approved by the Parliament.
The legislation will be implemented at a date chosen by the President, according to the president's office.
With Mbeki's assent, South Africa has now become the latest nation to legalize online gambling . It could still be some time before operations begin as officials work out on how to implement all of the new legislation in the bill, experts tell Online Casino Crawler.
The legislation was drafted in response to a study conducted by South Africa's National Gambling Board. The bill amends the 2004 National Gambling Act to legalize online gambling along with establishing a licensing and a regulatory system.
The measure creates a legal system to monitor gaming sites online in order to prevent money laundering along with initiating programs to stop addictive gambling before it starts.
Under the bill, all online players need to be registered with a licensed interactive gambling provider and submit an affidavit ensuring that they are older than 18.
The measure also allows for the creation of an electronic monitoring system to help root out potentially addictive behavior and restrict credit extensions to players.
According to South Africa's National Gambling Board, which will enforce the new measures, revenues from all forms of non-Internet gambling in the nation increased to $1.8 billion last year, up from $811 million in 2001/2002?
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