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Posts Tagged ‘South Africa’

Silversands Pushed Out of South Africa

Tuesday, December 14th, 2010

There are a lot of changes in the market of online gambling. Part of the reason for that is the varying laws and regulations that are changing at record speeds. Right now Silversands Casino operators know that better than probably anyone else. The company is being faced with possible eviction from Cyprus. The company is based there and has been since its beginning a few years ago. It was happily residing there paying a moderate taxation to house its gambling entity. That could all change due to the changing laws. Cypress is in plans to possibly start banning casino operators and online gaming in total. This is a difficult decision for the small country, but it is one that legislators have not made without a lot of debates. Though there are millions of tax revenue dollars to be had, legislators are seriously debating a complete ban on the activity. This of course would push the companies in the area out if they are directly involved with the activity.

This is a string of bad news for Silversands Casino operations. They recently heard the same news from South Africa when the country opted to eliminate gambling. It too was after a long period of strong debates from each side. Many experts believed that legislations would be open to gambling due to the money and that alone would sway them to do whatever they needed to do to make it happen. This is proving to not be the case in more and more countries that are banning online gambling and gaming, in general. If the changes in Cyprus do go through it is going to be bad news for more companies than just Silversands. There are quite a few companies that call the country home and are hoping to maintain their citizenship there. It is going to force them to relocate and cut the market out of their business completely. In today’s highly competitive market, that isn’t the easiest thing to do. They are being asked to completely sever a market. Only time will tell what is going to happen, but most likely it looks like Cyprus legislators have made their decision. They recently issued a statement confirming that they believe online gaming is what is pushing their stats on crime up and putting players at a disadvantage in terms of online protections.

South Africa Still Debating Advertising Laws for Casinos

Thursday, October 28th, 2010

One of the biggest problems in today’s market of gambling is regulation. Though some countries are supportive of gambling and its advertisements, there are still some that are stepping in to deny various promotion. South Africa is one of these countries. It is no secret that the country has long been pushing for changes in gambling but legislators are not open. In fact, they have stood staunchly against gambling and its legalization. So far the government is undecided on the issue as a whole and that is coming to a head now that the government is stepping in the way of advertisers. Advertisers want to push their products to the market. Gambling companies know that there are potentially millions of dollars to be had with their customer bases. They are pushing for changes in the market that can help them to realize those millions on a consistent basis. The South African government however is making things difficult for companies as the country debates gambling as a whole.

The Department of Trade and Industry of Africa is so far following the lead of British regulations on gambling company advertising. The country is making regulations for gambling advertisers somewhat similar to the hefty regulations that liquor distributors have to work under. There is one shortfall though—they aren’t dictating what companies should expect in terms of print advertising from gambling companies. This window is leaving a clear door open for gambling giants to write their own rules. This window may not be open for long though. Thus far casino companies and industry insiders have been given just one month to debate out any suggestions they have regarding promotions and advertising. So far advertisers on television have to limit their gambling ads to what is defined as the “nighttime” hours. Restrictions could grow tougher as the market moves on. It doesn’t seem like the gambling world in South Africa is going to be sorted out any time soon and it could have more restrictions on it before arguments are finished. Only time will tell what happens, but South Africa is shaping up to be a country not enamored by the millions of potential tax revenue dollars gambling has to offer.

South Africa Restricting Advertisers

Wednesday, October 13th, 2010

South Africa has been in debates over gambling and so far wants nothing to do with it. Namely it is online gambling that the country is denying. Right now the country is putting hefty bans not only on gambling, but also on advertisements and promotions online for gambling. The Department of Trade and Industry is stepping in to make rules different now that gambling is so popular with residents. The organization is varying the National Gambling Act to control advertisers. They don’t want pro-gambling activists to have the air time to promote gaming, even in nighttime hours when traditionally laws are much more lax. This latest move by Africa is the same move the UK has taken on in recent months. They too are restricting gambling promotion via television, radio, billboards and print advertising. Many gaming companies are fighting because they are valid customers of these outlets and want their advertising to get the same priorities as any other advertiser would. Unfortunately, gambling comes along with too much controversy for things to be that simple.

The situation in the UK and South Africa is problematic, but so is the rest of the world. It was back in 2006 when the UIGEA came into play that the US also tried to ban advertisers for gambling companies. In fact, they were initially planning on turning internet gambling into a criminal act that could be prosecuted as a felony. This did not work, and most likely neither will the ban on advertisers. The money gambling companies have to advertise is big business. Television stations, radio stations, magazines and newspapers are not going to want to consistently turn down the millions of dollars available. They know that a good advertising budget for a gambling company can be huge compared to a car rental company, for example, or even an airline. Overall gambling is big business and comes with huge price tags for everyone involved. That means that most likely everyone involved is going to fight hard to protect their part of the gambling pie. They want the benefits of the cash involved. And in today’s economy, turning down a few hundred-thousand dollars in advertising money is not what companies are looking to have to do for very long.

More Countries Debating Online Gambling

Monday, September 13th, 2010

Again gambling is in the news for an entire country. This time it is South Africa that is posting its legal feelings on the hobby. The country’s government has put a hefty ban on online gambling, thus shutting it out of the economy totally. It was the Gauteng High Court’s decision recently to step in and ban internet gambling and shut out gaming companies from the internet market. Though this is a long-awaited decision, many in the country believe that shutting down illegal operations is not going to be easy. There are thousands of underground poker rooms to deal with, not to mention other lotteries and gambling activities. Experts are concerned that it won’t be enough to get rid of any gambling activities and are warning that a repeat of what the US has gone through could be imminent.

The US tried to ban online gambling a few years back and now it is purposely revisiting the issue. In 2006 the UIGEA, Unlawful Internet Gambling Enforcement Act, came into play. It was supposed to do the same thing the Gauteng High Court hoped—stop internet wagering of all kinds. Instead, the law only pushed US gamers to seek out offshore companies for their gaming needs. They fueled billions of dollars out of the US and into offshore gambling websites. Now, the US regrets the loss of the money that will never return to the US economy. All legislators can do now is repeal or amend the UIGEA and hope to capitalize on the billions of dollars in tax revenue as soon as possible. Experts in South Africa believe that any country that tries to ban gambling will fall under the same repercussion the US did. Now that South Africa is joining in on bans, it is clear that they are shutting out the entire market and that is going to affect a lot of markets. For example, jobs may be lost, the media will lose millions in advertising dollars and gambling revenue will be pushed elsewhere. It will take time to see if the government changes the law, but right now people who break the gambling ban are facing fines of up to $1.4 million and/or a ten-year long prison sentence.

Brothers Win Trip to South Africa

Sunday, September 12th, 2010

The online casino world is at it again—building huge payout promotions for players to enjoy. That is the best thing about the world of gambling today. No longer do you have just a few promotions and specials to enjoy. In today’s gambling world, you can find huge benefits to get in on. For example, CasinoClub.com just announced its lucky winners of a trip to South Africa. Two brothers were awarded the trip on the Lucky’s Diner slot tournament. The ending win was a great fifteen-day trip vacation next month. That is a huge bonus the player’s are getting at the casino and it isn’t expected to end any time in the near future!

If you love online gambling, remember that you can come out on top in the world these days. There are a huge number of promotions to take advantage of. If you do a Google search, you are going to find a huge number of events to take part in. It doesn’t matter what your favorite game is, you are going to find a long list of specials to take advantage of. The best thing about online gambling today is that the promos are coming fast and furious to any gamer who looks for them. Big name casinos like CasinoClub.com are the ones that are coming up with some of the best promotions. The best thing to do in today’s market is to sign up for the casino’s free news letters. This way the specials can be sent to your email inbox immediately and you won’t miss out on anything. Remember that there are a lot of promos to sort through and you don’t want to miss out on any of them—especially the ones that can be the most lucrative for your style of gambling. Be sure to visit the top casino sand check out the promotions they have to offer. You are going to find a long list of them during any gaming season—summer, spring, winter or fall—and its best to take advantage of them all. Any good casino has the promotions you’ll love to take advantage of and most likely will bring you a huge payout return.

South African Government Not Budging on Gaming

Monday, September 6th, 2010

In the world of gambling, there are countries everywhere that are trying to get in on gaming fun. They know how lucrative gambling is and most governments are trying to find new laws for legalizing and regulating gambling. The money potential is huge in the industry and it is only showing signs of growing in popularity. There is already a huge market for gambling and it is growing consistently. Legislators know that and want to capitalize on the gambling market.

Until recently, it seemed as if all jurisdictions wanted to move forward with the cause of gambling. Now, South Africa is showing clear signs of standing firm on their no-gambling position. An official court in the country ruled that all online gambling is illegal. Operators face a $1.3 million fine if found guilty of breaking this law, along side a ten year prison sentence. It was back in 1965 that gambling became illegal, with the one exception of horse races. There also was another group of indigineous casinos allowed to operate but only for the South African gambling residents. These were the only exceptions to the anti-gambling laws. Now, the country is remaining firm on their position. They recently decided that Internet Service Providing companies are the ones who have to block and ban residents’ access to gambling websites. In the same turn, financial institutions are tasked with banning any gambling transactions from moving through their systems. This is somewhat the same as the UIGEA the US instituted back in 2006. It put financial institutions in the position of watching, tracking and blocking any transactions that were akin to gambling online. It did more harm than good though because gamblers ended up merely moving to offshore companies to gamble, rather than stopping gambling. South Africa may go through the same problems if more rules aren’t built to keep funds in the country. In the end billions of gambling dollars could be channeled out of the country if legislators aren’t careful. Right now though they all seem intent on keeping gambling out, regardless of the cost or loss of revenue it may cause to the country.

South Africa Trying to Regulate Gambling

Thursday, April 29th, 2010

The topic of online gambling is a big one in the world today. Almost every country is now debating over whether or not online gambling is the way to go in terms of finding additional tax-revenue options. The recession was difficult on communities all over the world and gambling is one of few ways legislators see to build up the millions needed to overcome the deficits. One country that is having problems implementing rules is South Africa. Back in 2008 the country passed a range of laws that were meant to help regulate online casino gambling activity. Much like the US-passed bill called the UIGEA, the South African laws for the most part failed.

The failure of the South African implementation of rules regarding gambling wasn’t due to the same reasons the UIGEA failed for the US. The US saw failure because gamers who were unable to wager online in the US quickly opted for casinos that were offshore. This of course meant they also were channeling millions of dollars into the other countries and the US was losing the money. Now that the US legislators realize the potential money that could come in from legalizing online gambling, they are quickly working to rewrite the laws.

South Africa for the most part had rules that could have worked but the government showed a true reluctance to implement them. Again the problem was that people who wanted to gamble moved to offshore companies that were able to handle their gaming needs. Again- the result was the same. South Africa, like the US, lost millions of dollars in revenue. Now the country is trying to rectify the problem. A few weeks ago the National Gambling Review Commission did a survey that proved how denying the implementation of standing laws regarding gambling is increasing the number of illegal gambling activity in the country. Their solution is to allow ten casino operators to request licensing and start up their own online companies to handle gambling. It is the beginning of a bigger implementation process and is said to help usher in more and more companies throughout the coming years.