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South Africa Close to Regulating Online Gambling

NGB looks to Antigua for online gambling regulatory advice

August 17 - Representatives of the National Gambling Board of South Africa (NGB) recently completed an important fact-finding mission to the online gambling-friendly jurisdiction of Antigua and Barbuda in the Caribbean, with a view of harnessing South Africa's own untapped online gambling potential.

The NGB has long recognised the financial benefits of turning South Africa into an online gambling regulatory state (much like Antigua and other online gambling-friendly jurisdictions like it) with a view of generating hundreds of millions of rand in additional income for South African government coffers each year.

When in Antigua, NGB representatives reportedly spent a week with the island's Financial Services Regulatory Commission (FSRC) who took them through the island's regulatory, licensing and supervisory policies that has made it one of the most successful online gambling jurisdictions in the world today.

They also reportedly met with Antigua's Minister of Finance Harold Lovell, the FSRC Board of Directors, important government agencies and online gambling operators themselves. In July 2008, South Africa enacted remote gambling legislation and since then has been developing its own licensing regulations.

Said NGB deputy chairman and acting CEO, Mmathebe Thebi Moja, 'The NGB has chosen to understudy their (Antigua's) detailed policy and regulatory framework before implementation of our legislation that seeks to legalise and regulate online gambling. We recognise the FSRC, Division of Gaming of Antigua and Barbuda as a leader in remote gaming regulation.'

Said FSRC chairperson Althea Crick, 'I am particularly heartened by the selection of the Antiguan jurisdiction by the NGB as it underscores the confidence placed by the international community on our regulatory and supervisory machinery.'

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