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SPorts Betting Developments in South Africa
Monday, June 27, 2016 : ONLINE SPORTS BETTING DEVELOPING WELL IN SOUTH AFRICA.
Whilst the lawmakers have nixed general online gambling activity, the sports betting vertical continues to prosper.
South African lawmakers may have nixed the legalisation of online gambling in general, but the sports betting variant, which has restricted legality, continues to prosper.
The market is dominated by four major operators following the departure of Ladbrokes some time ago - Sportingbet, SunBet, Bet.co.za and the most recent arrival, Craig Venters Clickabet
A 2014 review of the sector prepared by the independent professional business services provider PwC predicted that the vertical will generate increased revenues at a growth rate of around 7.7 percent compounded annually to Rands 5 billion by 2019 from Rands 3.5 billion in 2014.
The overall sports betting market is presently delivering growth figures of almost 20 percent per annum, PwC reports.
Most South African sports betting goes to horse racing, but general sports betting is developing rapidly and should overtake horse racing and comprise 57 percent of wagering by 2017, according to PwC. That compares with the 46 percent of overall sports wagering recorded in 2014
In an interview with the local publication IT Web this week, Venter revealed that his newly-launched Clickabet is recording new registrations up by 40 percent, with a surge of 100 percent in betting volumes since the start of the Euro 2016 football championship. And with the championship now in the last 16 knockout phase, volumes are increasing even further.
"More and more people are getting comfortable placing bets in SA on an online basis," Venter said. "As broadband penetration increases in SA, this will grow even further."
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2017 Aussie Millions Event 1 -
The Melbourne-based player bested a field of 1,565 entries - 245 up on last year's equivalent - to end up in the heads up with New Zealnad's Qiang Fu, but not before both he and Qiang had narrowly escaped at the four-handed stage when they were the low stacks.
Swiss Reject idea to Block Gambling Websites -
The Legal Affairs Committee of the Swiss National Council has nixed new regulations which would have blocked access to online gambling sites in Switzerland, according to local media reports Tuesday.
Growth Ahead For Online Gambling -
Transparency Market Research has issued a teaser on its latest international online gambling and betting survey, forecasting that the industry will grow at a Compound Annual Growth Rate (CAGR) of 10.8 percent by 2024.
New Qubit software For SkyBetting -
#qubit Sky Betting & Gaming aims to top its record 50 percent revenue growth last year with new player differentiation software and expertise provided by the Qubit company.
Slotfather II Slot Launching -
#betsoft The first is a sequel to the popular gangster-themed online slot Slotfather, unsurprisingly titled Slotfather II, whilst the other is a new 243 ways-to-win game titled Fa Fa Twins..
Massachusetts Online Lottery Bill -
Flanagan's confidence was clearly boosted by the bill's success in the Senate last year, although it was not developed by the House and ran out of time.
Italy Doing Well With Online Sports betting -
The latest numbers from the Italian regulator show that online sports betting remains king when it comes to internet gambling in the market, generating Euro 391.8 million in turnover in December 2016.
Michigan To Reintroduce Online Gambling Bill -
#Michigan state Sen. Mike Kowell's staff have confirmed that the senator plans to reintroduce his online gambling legalization bill, which failed to make it through the last legislative season.
MGM Buys DC office building For lobbying team -
#MGM Resorts International has bought a new Washington, D.C., office building for its in-house lobbying team, led by former chief counsel to the now retired Nevada Sen. Harry Reid, Ayesha Khanna.
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