Get acquainted with the latest gambling South Africa casino gossip including Pragmatic Play, Yggdrasil, NetEnt & Evolution expansions. (Image from Tobias Reichon unsplash.com)
Thanks to the solid economic environment in the South African iGaming market, Pragmatic Play, NetEnt, Evolution and Yggdrasil have all expanded their reach in the country.
Meanwhile, a report directly delivered to parliament confirms that the casino industry is contributing pre-covid tax levels. One of the key reasons mentioned was the rise of new technology – online gambling sites.
Another story trending in South Africa’s financial realms is the up-and-coming cryptocurrency regulations. Casino players have not had the luxury of doing business with a domestically licenced crypto exchange, but that situation is about to change.
Read on for the expanded versions of all the latest South African casino news and gossip…
SA Crypto Exchanges Must Register by November 2023
Regulating cryptocurrency in South Africa has long been a topic that has confused players and investors. Although ZAR-BTC pairs have been running through crypto exchanges in the country, the companies offering these services have long operated outside of financial laws. It is similar to playing at an online casino operating without a licence.
Right now, anyone dealing in digital assets and crypto funds is still not out of the water. The government financial watchdog, the Financial Sector Conduct Authority (FSCA), has said licensing applications will not begin until 1 June 2023. Adding to this, there is a deadline that applies to this application, which I am not sure why.
November deadline: According to the new policy, applications will no longer be accepted by the FSCA after 20 November 2023. Maybe that will change.
Recap of South Africa Casino Gossip in this Report
- SA crypto exchanges to apply for licences between 1 Jun & 20 Nov 2023
- Pragmatic Play signs agreement multi-vertical deal with World Sports Betting
- Tax coming from SA gambling is returning to pre-pandemic levels
- NetEnt, Yggdrasil and Evolution go live with new online casino
Pragmatic Play Goes Live with World Sports Betting
On 9 November, Pragmatic Play announced its fourth partnership deal for 2022 in South Africa. After going live on Playbet (February), Goldrush (April), and Hollywoodbets (April), it has taken almost six months to close in on another agreement.
The latest agreement is with World Sports Betting and covers three of the software provider’s key iGaming industry verticals. Video slots, live casino (Pragmatic Play Live) and scratch cards. I took the liberty of checking the casino to see what is available. Big Bass Bonanza, Gates of Olympus, and Release the Kraken were some of the first slots I saw. However, there was no sign of any Pragmatic Play live games as of yet, with this section dominated by Ezugi, Evolution and BetGames.
Irina Cornides: Pragmatic Play’s COO made a quote on the official news report on the brand’s website saying South Africa and the wider continent provide an opportunity for continued growth in the region.
SA Casino Tax Income Back to Pre-pandemic Levels
According to the latest casino financial figures reported to the government by the National Gambling Board (NGB), the industry is now paying taxes that are up to pre-covid levels. The official figure for the 2021/22 tax year reported to parliament is 3.2 billion ZAR in tax revenue.
These figures mimic those from the 2019/20 tax year before the country went into lockdown because of COVID-19 (yes, we are still talking about it). The government department predicted that it would only collect 240 million ZAR in fees for the 2021/22 tax year, but ended up with 259 million ZAR. Caroline Kongwa, who is the chief of NGB, which is responsible for monitoring the market, suggested the rebound was down to several factors.
In particular, Ms mentioned that the NGB flagged iGaming and sports betting, which are redefining the South African gambling market, as major contributors to the recovery.
NetEnt, Evolution & Yggdrasil Expand Reach in SA
More good news in South Africa for three award-winning software providers. NetEnt, Yggdrasil and Evolution online casino game portfolios are all part of the brand new 10Bet online casino and sports book launch. The company already operates in Ghana, Kenya, Tanzania, and Zambia. It will operate under a Mpumalanga Economic Regulator licence.
African Expansion Continues: Keep a lookout for more news covering South Africa. As the country’s iGaming market continues to expand, we’ll continue to cover more news. And be sure to gamble responsibly and only choose reputable online casinos to gamble with real money online.
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