Offshore online gambling drains over R50bn from SA
South Africa loses over R50 billion annually to illegal offshore online gambling operators, exposing millions of consumers to risks.Summary
A significant portion of South Africa's gambling revenue, approximately two-thirds or R74.5 billion annually, is being diverted to illegal offshore online gambling operators based in jurisdictions like Curaçao, Malta, Gibraltar, and the Philippines. The South African Bookmakers Association (SABA) estimates that over R50 billion in gross gambling revenue is lost offshore each year, with around 16 million South Africans engaging with these unregulated platforms. The shift to online gambling accelerated during the COVID-19 pandemic, now accounting for 85.5% of total betting revenue. While the National Gambling Board (NGB) aims to combat unlawful online gambling, there's a divergence in views on what constitutes illegal gambling, with some lawyers arguing that online gambling is permissible if operators are provincially licensed. Consumers using illegal platforms face risks including forfeiture of winnings, prosecution, and lack of consumer protection, potentially leading to gambling harm. SABA emphasizes the importance of choosing licensed operators to safeguard against these risks and comply with the National Gambling Act.
(Source：Itweb)