South Africa Approves Internet Gambling Law

South Africa's parliament has approved a new Internet Gambling law that will regulate the industry that was being plagued by crime and used to launder money and more according to parliament papers on Monday. 

 There was a memorandum attached to the National Gambling Amendment Bill that said that the interactive gaming industry in Africa's biggest economy wasn't currently being regulated and was "generally plagued" by crime.

"This situation has resulted in a considerable loss of revenue to the national fiscus and compromises the country's reputation as a responsible global citizen," it said.  The new bill will also be addressing the negative socio-economic effects that are associated with gambling and deals with issues such as; problem gambling, player protection, advertising and taxation.

Every online player will now need to be registered with a licensed interactive gambling provider and submit an affidavit to ensure that they are over 18 years old.  "The purpose of this Act is to ensure that all gambling activities are conducted responsibly, fairly and honestly (and to) protect minors and other vulnerable persons from the negative effects of gambling," it said.