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One More Legal Online Casino |
| Just when you thought that the online casino industry stabilizing a new player has entered the seen. South Africa, which to date has not legalized online casinos will soon change its tune, assuming of course that the trade and industry minister Mandisi Mpahlwa accepts the latest bill. Online casino gaming is not too popular in South Africa as only 1 in 10 homes has a phone line; and therefore even less have internet connections. Why does South Africa want to legalize this industry? Well the answers are relatively simple; it all comes down to money and legal protection. The online casino has bought in an estimated 12 billion dollars in 2005; this is a significant increase from $3 billion in 2001 and $8.2 billion in 2004. And it won't stop there. Many are predicting that by 2010, the online casino will make more than 25 billion dollars in profits; this is more than double the profits from this past year. By legalizing online casinos with in South Africa the government is hoping to profit from the tax revenues, as well as offer the local gamblers legal protection. South Africa believes that by bringing in online casino firms into their country they will have the ability to gain a niche in the ever expanding market. Legalization will also potentially promote the development of the interactive gambling industry within the country; bringing in more technology based business. In its heyday South Africa was known for its Vegas-like Sun City that bought land-based casinos to the market. By reforming laws against the online casino, the country hopes to bring in recognition from the virtual gaming industry as it once did for the land-based casino. |
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