Online Gambling Regulation Changes

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wsjd79

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Hi All,

I received the following sms from FNB a few days ago - Can anyone provide some insites as to which regulations have changed and why?

Cheers

fnb - due to south african regulations, as of 1 july 2018, all non-rsa online gambling transactions will be declined. for more info, contact 0875777000. fnb a div of frb ltd fsp 3071 & ncrcp20
 
No regulations have changed...

Online gambling is illegal in this country, UNLESS the entity is licensed (and currently only sportsbooks seem to have any type of license... and a few other entities like Lottostar)
 
Yes as far as I know you cant do the online slots and poker, they not even supposed to be allowing you to buy credits in the first place.
 
ToxicBunny said:
No regulations have changed...

Online gambling is illegal in this country, UNLESS the entity is licensed (and currently only sportsbooks seem to have any type of license... and a few other entities like Lottostar)
Click to expand...

online gambling is illegal? if you say so I suppose,
piggs peak? isn't that still legal? based in Swaziland and all that?

what about all these bitcoin casinos that pop up, I mean you can buy /generate bitcoin or other cryptocurrencies,
gamble with them, and then convert the takings back to ZAR,

how is it that loophole hasn't been closed down?
 
eg2505 said:
online gambling is illegal? if you say so I suppose,
piggs peak? isn't that still legal? based in Swaziland and all that?

what about all these bitcoin casinos that pop up, I mean you can buy /generate bitcoin or other cryptocurrencies,
gamble with them, and then convert the takings back to ZAR,

how is it that loophole hasn't been closed down?
Click to expand...

Its illegal, the Supreme Court ruled as such back in 2012...

There can be 100 million sites offering the service, but its illegal. Plain and Simple.
 
SA should open a department that looks after online casino games, they will make some good money for the coffers.
 
There is a guy who won some money recently on a UK Lottery but SARS picked it up when he transferred it back to SA.

ABSA getting nailed for allowing the initial purchase transaction to happen in the first place. FNB just be proactive now
 
Thanks AndyC - That would make the most sense as I occasionally purchase entries to other lotteries via the fatcatlottos site. So regardless of being a "legal" operation we can only purchase via RSA based entities.

Are there any local based companies that allow you to play overseas lotteries? I'm aware of Lottostar but that it betting on and not playing in the actual lotteries.
 
NarrowBandFtw said:
Just use your fnb card to fund an online wallet like PayPal or even buy bitcoin and fund your gambling account through that ...
Click to expand...

But what happens when you eventually have to send the money back into the country (provided that you actually made some worthwhile winnings :whistle:). Making the money look legit to get pass the reserve bank is gonna be quite tough and you can get in a whole lots of trouble if they find out
 
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