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SA president approves online gambling bill
On July 14, South African President Thabo Mbeki approved and signed the National Gambling Amendment Act, legalizing online gambling and paving the way for the nation to set up regulations for the industry.
The bill was introduced in the Parliament of South Africa more than a year ago in order to set up regulations for the online gambling industry in South Africa. The nation had made online gambling illegal while it worked on legislation that would regulate the industry.
Members of parliament drafted the bill in response to a report conducted by South Africa's National Gambling Board, which found that there is a need for licensing and regulating online gambling in the nation.
The goal of the National Gambling Amendment is to address the implications of an unregulated Internet gambling industry by establishing an effective and efficient regulatory framework. That framework will be based on sound policy objectives in line with the government's policy for monitoring all forms of gambling.
The legislation addresses the need to regulate online gambling for player protection and the protection of children and problem gamblers. It also addresses advertising; licensing, compliance and enforcement; and money laundering.
The National Gambling Amendment Act was approved by the South African parliament in May and has been awaiting the president's signature since then. Now that it has his approval, the government can begin taking the steps to set up the regulations and licensing procedures set out in the new law.