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Betfair Enters Through the Front Door

The South African government recently announced plans to regulate and license the industry rather than support the current unregulated climate of online casino gambling. Though the National Gambling Amendment Bill is still in the beginning stages of passing though the government, Betfair is willing to wait until the legislation passes before entering the online casinos industry in South Africa.

South Africa already has a substantial online casino gambling industry and companies like Piggs Peak have entered the market and offered internet gambling services to many South Africans who previously had few options. Because the South African government has not come to any firm rulings yet on the state of online casinos in the country, many companies are running rampant with little input or control from the government. Betfair though stands above many of the rest and is patiently waiting to enter the internet gambling market legally.

Most industry analysts agree that licensing and regulation of the online casino industry is imminent, Betfair has chosen to closely follow the NGA Bill and enter the market through licensing once the Bill passes. The legal counsel for Betfair, Elliott Kernohan, comments on why Betfair is not taking a piece of the online casino market now. He says, "That's not the way that we do things. It's much more important for Betfair as an organisation to ensure that we're able to say to our players, look, we provide the standards of probity and protection and safeguards against problem gambling that you would expect to have in your home country.

"So where there is a country that takes the view that gambling should be regulated safely, we very much prefer to come in the front door, rather than be characterised and perceived as some of these other operators are. And, you know, in fairness you can't necessarily point the finger solely at Piggs Peak, who themselves would take the view that they're operating perfectly legitimately from a jurisdiction that's granted them a license.”

This is an important distinction that definitely scores points for Betfair in terms of socially responsible online casino gambling practices.