Johannesburg, Dec 22 (I-Net Bridge) - SA's online sports betting industry operators should establish an industry association which can promote best practices and standardisation.
This is according to sports betting company Ladbrokes.
"Sports betting is relatively new to the South African market and although it is a highly regulated industry, an industry association will establish collaboration between licensed operators, regulators and our customers," says Anli Kotze, marketing manager for Ladbrokes in SA.
Kotze believes an industry association will also provide licensed operators with a single voice on regulatory and industry issues.
"SA's online sports betting market is currently worth about R660 million and is expected to grow to about R800 million over the next two years. Unlicensed online sites operating illegally within SA are currently costing the government millions in lost tax revenue and are affecting the potential growth of legal online operators," says Kotze.
Global betting and gaming giant, Ladbrokes, entered the South African market in August 2011 by establishing a local online sports betting portal.
"It is committed to growing the online sports betting market primarily around sports such as horse-racing, rugby, cricket, football, golf and tennis.
"Licensed by the Western Cape Gambling and Racing Board, it is committed to honest and fair business practice," Kotze adds.
Garron Whitesman of Whitesmans Attorneys in Cape Town says that despite the national and provincial gambling boards and local operators making efforts to educate the market, there is still great uncertainty amongst members of the public about the difference between online betting and interactive gaming in the local market, and which sites can be used legally.
The recent Piggs Peak decision in the Supreme Court of Appeal has put an end to the debate on interactive gambling, which includes traditional casino type games and poker being offered online.
"According to the highest court in our country, these services may not be offered legally online to South African residents. Parliament is currently debating the creation of a licensing regime for these types of products and we are hopeful that this will come to fruition sooner rather than later. For now, however, the only traditional forms of gaming that may legally be offered online are sports betting with a locally licensed bookmaker or totalisator," says Whitesman.
According to Kotze, Ladbrokes aims to educate customers on what to look for when they want to place bets on sporting events online. "Customers must verify that they are using a licensed operator. All legal operators should indicate that they are licensed on their website's homepage. Punters can also seek verification forms from the respective gambling boards around SA," says Kotze.
End
I-Net Bridge, Tel: +27-11-280-0644, newsdesk@inet.co.za
Copyright 2011 I-Net Bridge. All rights reserved.
BusinessLive, Tel: 27(0)11 280 0600
