World leaders continue to discuss the advantages and drawbacks of internet gambling, with equal numbers opposing and supporting its legalization.
Both New Jersey and South Africa revealed big gambling industry news this week, with both areas taking measures to legalize internet gambling in the future, allowing citizens to bet from the comfort of their own homes.
Bill Despite Racing Dispute
Despite the opposition of the horse racing business, the revised law was approved by the Senate Wagering Committee and Senate Government with three votes in favor and none against. Senator Whelan said that New Jersey should be the first state in America to allow internet gambling and poker. Governor Christie expressed interest in the revised law, saying he hoped to see whether his earlier concerns had been addressed and changes made as required.
Ban In South Africa May Be Lifted
Online gambling, poker sites, and internet casinos are now banned in South Africa. Residents are also prohibited from betting on sites outside of South Africa, thereby banning all internet gambling in the nation. However, the South African Parliament’s commerce and industry committee has recently debated the benefits and drawbacks of legalizing and regulating internet gambling in the nation. During a public hearing on March 2nd, underage gambling, illicit gambling activities, and money laundering were raised as major concerns. However, the government is actively exploring the possibility of internet gambling.
AGA Urges Legalization
Unlawful internet gambling is presently prohibited in South Africa, but a recent industry analysis recommends that it be legalized and taxed. According to Democratic Alliance MP Geordin Hill-Lewis and Committee Chairman Joan Fubbs, internet gambling already existed in an unlawful sense, and ignoring it would merely allow an uncontrolled sector to develop. The government was missing out on potential economic gains since internet gambling was very hard to ban, according to Hill-Lewis.
Anxiety Over Money Laundering
Online gambling, according to Pieter Smit of the Financial Intelligence Centre, allows players to move monies from person to person or location to place through cash deposits. Online transactions are difficult to trace, making it tough to disrupt unlawful activities. Internet poker and betting exchanges should be made illegal to reduce the risk of unlawful online transactions, according to Smit.
NGA Against Legalization
Surprisingly, the National Gambling Board of South Africa has said that it opposes allowing an internet gambling sector. If Parliament permits the business, the National Gambling Board says casinos must be rigorously supervised and the number of licenses issued should be limited to keep authorities’ books manageable. They also recommended that all licenses be limited to eight years in order to combat underage and problem gambling as well as fraud.