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Safeguarding Bank Balance

As the South African online casino gambling regulations near the implementation phase the government has begun to detail some of the specific protocols that are built into the new gambling legislation as a way to protect citizens from developing problem gambling habits. The new regulations call for all of the licensed online casinos to only allow one for of payment processing – through a specific bank account held at a South African banking company. The funds for the account will be specifically linked to the internet gambling sites and the regulations mandate that maximum limits are placed on the account.

In their current form, which is near passing but not there yet, the regulations call for the bank accounts linked to the online casinos to hold a maximum of 20,000 Rands and gamblers have to deposit at the sites with their credit cards. By limiting the payment methods accepted by the online casinos, the National Gambling Board can better pass regulations that monitor the gambling accounts and better ensure that gamblers are not engaging in problem and addictive gambling habits.

Also, by allowing only a specific account for online casino gambling related activities, the gamblers are better able to self-monitor their gambling habits. The latest dialogue out of the SA government and the National Gambling Board indicate that the new licensing and regulatory regime could be in place in as soon as three months if the legislation does not require additional revisions – if more revisions are needed, the legalization will take place somewhere closer to the end of the year.