South African authorities have been trying to implement new rules and regulations, concerning the online gambling legalization. However, the procedure was halted due to a combination of setbacks and now, according to the latest information released, the legislation bill will not be passed anytime soon.
A few days ago, Nikki Forster, the person, responsible for South African gambling legislation affairs, said that authorities are not quite convinced about the effectiveness of the new rules. She also added that although online gambling legislation is believed to be favorable to country’s income, the job opportunities provided might not be as abundant as expected.
Forster also pinpointed the fact that the more gambling opportunities residents have, the more issues, concerning gambling addiction are likely to arise. Bearing all factors in mind, Forster said that online gambling legislation would not lead to a positive outcome and she does not see any room for further growth. She made that announcement during an event, held in Johannesburg.
Currently, South Africa has a well developed gambling sector, which brings a considerable annual revenue. As a matter of fact, sales are expected to grow and by the end of 2018, they are supposed to reach almost R30 billion annually.
There are 37 gambling operators, legally allowed to provide their products and services on the territory of the country. The revenue they generated last year was more than R16 billion and prominent market analysts expect a significant rise. South African gambling sector is believed to contribute to country’s coffers approximately R20 billion within 3 years.
Needless to say, South Africa does not solely count on revenues, generated in land-based casinos. Apparently, they play a key role in the development of the local gambling sector but sports betting activities also help boosting the annual revenue. According to the report released, people that are interested in sports betting will outnumber those, keen on horseracing by the end of 2018.
Another factor that forms South Africa’s impressive gambling revenue are the payout machines. Although the maximum bet is only R5, they do play an important role in developing country’s industry.
South Africa is not the only African country that is trying to make its gambling sector a competitive and profitable one. The latest statistics show that authorities of two other countries are also interested in expanding the gambling segment.
Nigeria
There are just three legalized casinos on the territory of Nigeria and according to the expectations, the revenue will reach $58 million in three years. The revenue, generated during 2013, was $40 million. However, the expected growth might not happen due to the Ebola crisis.
Kenya
The number of licensed casinos in Kenya is 13. Unlike some other countries that want to develop their gambling sector, Kenyan authorities are taking adequate actions indeed. The country is famous for having liberal gambling laws as well as legal online gambling activities. There are some amendments that need to be implemented but the overall impression of market analysts is that Kenyan gambling affairs are going into the right direction.
