Thanks to Steve Marshall of Marshall’s World of Sports for this informative article that should put us all in the picture.
With all the hype around what is or isn’t legal with regards to gambling online, it is probably a good time to give those who are interested, some information on the gambling industry in South Africa and where Marshalls World of Sport fits in. There are a number of different types of gambling such as that which occurs in casinos, the lottery, bingo and betting /wagering. Before 1994 the only form of legal gambling in South Africa was betting on horse races with a licensed bookmaker or the Totalisator. Since then a lot has changed and the new government has legalised additional forms of gambling such as Casinos, Limited Payout Machines and Bingo, with the passing into law of the National Gambling Act of 1996, and subsequently the National Gambling Act No 7 of 2004, along with the accompanying Regulations which have dictated the way in which licenses will be issued, regulated and operated. It is highly likely that online gaming licenses could well be issued in the near future. The addition of the above listed gaming activities to the previously limited gaming options has been beneficial to the National and Provincial fiscus’ in the form of additional taxes generated from these new gaming activities.
The industry often carries a dark shady past behind it with many stories of skulduggery featuring some form of gambling, the latest cricket betting scandal being a typical example of the same. The fact that these activities were pursued by “unlicensed operators” does not unfortunately deal with the general public’s view on betting/wagering and bookmakers. Unfortunately this is a perception that we as licensed bookmakers have to live with. The National Gambling Board has however sought to enhance the industry’s credibility and the general public’s awareness by ensuring that the public are protected by the National Gambling Act, No 7 of 2004 as well as the various Provincial Regulatory Laws and Licensing authorities, when dealing with licensed operators. All licensed bookmakers are required to comply with the Financial Intelligence Centre Act, 2001 (FICA) when dealing with either suspicious transactions or any transaction where the client wagers or wins in excess of R25 000. The industry supports the National Responsible Gambling Programme which is aimed at educating, preventing, treating and counselling persons with gaming related problems.
In order to be granted a bookmaking license, prospective bookmakers are required to go through a stringent probity process from the relevant Provincial Regulatory Body as well as pass an evaluation confirming their knowledge of the industry and the application of it’s laws, rules and regulations. This evaluation is not to be taken lightly and is often a 6-8 month process involving an in depth examination into the financial and personal history of the applicant so as to ensure that they are “fit and proper” to be licensed as a bookmaker within the jurisdiction of application.
The advance of technology has brought with it new challenges to Regulators and Operators. Both have had to revise how they regulate on the one hand and operate on the other using modern technology platforms that ensure regulatory compliance and operator effectiveness within this highly competitive sector of the gaming industry. With the betting industry now fully computerised, all licensed bookmakers are required to use the same SABS approved software, called Turfsport. The regulatory authorities have access to all betting information and ensure that all transactions are legitimate whilst at the same time check that the correct taxes are paid over to the relevant governing bodies.
There are a number of different types of bets that a person has the option of taking. As a bookmaker, Marshalls World of Sport offers fixed prices which means that the price quoted when you take your bet, is the price that you get. Eg. If you bet on the Springboks to beat the Aussies and you are quoted a price of 0.35/1, this means that for every R1 you bet, you stand to win 35c plus your R1 back if the bet wins. To make rugby betting more attractive, especially in one sided contests, handicap betting is offered. Thus you can bet on South Africa at -7.5 which means that South Africa must win by at least 8 points for this bet to be a winner. For this handicap of -7.5 points you are obviously offered a better price such as 1-1 which means for every R1 you bet, you stand to win R1 plus your R1 back.
Marshalls World of Sport is a family owned business and its history dates back to the 1960′s when John and Dawn Marshall first received their bookmaking licenses. Since then Marshalls World of Sport has grown to become one of the respected leaders in the South African bookmaking industry. We have a physical footprint of 11 betting shops in Kwa Zulu Natal, 7 in the Western Cape and 1 in Gauteng. In addition we offer our account clientele the option of placing bets through our telephone call centre, the internet or via our mobile phone platform. Betting opportunities offered include all major local and international sporting events including horse racing, football, golf, rugby, cricket, tennis and boxing as well as other sports such as American football, baseball, basketball, Aussie rules football, Formula 1 and 7′s rugby.Tweet