Online gaming and the different regulators

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) September 1, 2009 -- The biggest regulators of online Gaming at this stage are the national governments and their main focus on the online environment. It is every body’s democratic right to spend their money the way they prefer. Governments should focus on the unemployment issues rather than target the spending or should I say the preferred spending habits of individuals.

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Online gaming and the different regulators

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For the amount of opportunities that do arise in the online environment were individual entrepreneurs seize the occasion, governments will rather put a ban on it than try to regulate it just because individuals take it on themselves to create opportunities for employing staff in the online markets. At least some governments, like the U.K. and South Africa try and work to a resolution and put forward some kind of proposed regulations.
The South African Government is open to finding a resolution to online Gaming and it is focusing its efforts to have online gaming controlled.

The proposal as laid down on the table suggests that South Africans wanting to play online will have to open a nominated account with any South African bank which will be used solely for online gaming.
Only credit cards can be used to make payments and the accounts will have to adhere to normal banking and Financial Intelligence Centre Act requirements.

In a first effort to get the proposed regulations in place "We will work together with the banks and Reserve Bank to monitor the accounts and players will not be permitted to have more than R20000 in their accounts at any point," says Moja.

Once the regulations are in place, the NGB envisages issuing 10 online licenses to South African operators -- those who have their servers based in SA.

Most local gaming operators are keen to get involved in online gaming. Horsing racing and betting group Phumelela CEO Riaan du Plessis has confirmed that the group will seek a license once the regulations are in place.

Anthony Puttergill, CEO of casino group Peermont, says they too will apply when the licenses become available. But Puttergill points out that there are gaps in the regulations. "We are still examining the regulation and have yet to submit our comments but we are concerned about the fact that it does not mention how many URLs each operator may have, how the license will be enforced as well as where the gaming will take place."



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