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South African credit card holders are currently being told by their banks that buying lottery tickets overseas, or gambling online using their credit cards, is illegal.
The banks are claiming that they have been advised by the Financial Surveillance Department of the Reserve Bank of South Africa that the use of credit and debit cards for these purposes is prohibited, and that the provisions of Exchange Control circulars state:
“Residents may not participate in lotteries organized abroad or participate in any online gambling activities, as such participation contravenes the Lotteries Act 57/1997 and the National Gambling Act 7/2004 as amended by the National Gambling Amendment Act 10/2008.
“Residents may not use their credit or debit cards in the Republic to facilitate payments for the purchase of foreign lottery tickets and online gambling.
“Accordingly, authorized dealers must decline requests to purchase foreign exchange for such purposes in all instances.
“In addition, all issuers of American Express, Diners Club, Mastercard and Visa cards, may not accept debits against SA resident cardholder’s accounts in respect of the payment for the purchase of foreign lottery tickets or online gambling activities.”
The banking advisories warn clients that accounts will be monitored for such transactions
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
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The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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