Online sports betting has taken over South African as notable names from all walk of life are trying to invest in the industry on a daily basis and this has been of great help to citizens.
A lot of betting companies have been providing good platforms for Bettors to stake and win something big for themselves. This guide is meant to help both new and old bettors know all they need to know in order to make the most of online sports betting in South Africa.
THE LEGALITY OF SPORTS BETTING IN SOUTH AFRICA
For many years, Sport Betting was illegal in South Africa but things took a new turn when authorities legalized betting as the National Gambling Board was established.
The National Gambling Act 2004 made a distinction between interactive gambling (poker, casino, and bingo games), and sports betting.
Interactive gambling and services that provide it are illegal, but sports betting is not as long as it’s through a South African licensed provider.
LICENSES HELD BY BOOKIES IN SOUTH AFRICA
The nine provinces of South Africa each has its dedicated gambling and racing board, which can grant licenses to bookmakers. Any website with a license from one of these boards can be used legally by South African residents.
Up to 40 licenses has been awarded, and the central governing body, the National Gambling Board, chooses how they’re spread among the regions.
This is very essential as it’s used in ensuring that Bettors don’t make a wrong mistake, when visiting an online bookmaker for the first time, you can check to see if the operator is licensed by viewing the footer at the bottom of the page. You should find the company information, the name of the licensing and regulatory board.
SOUTH AFRICA PAYMENTS & WITHDRAWALS OPTIONS
Majority of sports betting companies in South Africa offer a range of payment methods. It’s crucial for a bettor to find a site with the method that suits him best.
WHAT ARE THE CURRENT SOUTH AFRICA BETTING TAX REGULATIONS?
As a casual bettor, you don’t need to declare your winnings for tax purposes. Bets that involve horse racing have a 6% deduction to cover VAT.
SOUTH AFRICA BETTING TIPS
Betting tips in South Africa is fun but bookmakers can sometimes twist the bettor mind into losing.
WELCOME OFFERS AND PROMOTIONS
A lot of special bonus area available for Bettors as Betting companies are too a scared to lose their customers.