UK Betfair to halt activities in SA
UK-based online betting exchange, Betfair, is set to shut down its activities in South Africa on Tuesday (February 14, 2012).
The company, which boasts four million customers globally, processing seven million bets per day, says it will no longer operate in the country and will block access to its services from SA-based IP addresses.
This is following the Supreme Court of Appeal ruling last September declaring online, or interactive gambling illegal.
A spokesperson for the group told BusinessTech that Betfair will suspend the accounts of any SA registered customers. “They’ve been informed of what’s going on and advised on how they can withdraw any funds they have in these accounts,” he said.
“We as a business, and online gambling as an industry, are underpinned by cutting-edge technology and, accordingly, the investment made in tech – be it through man hours, money, jobs and R&D – has been hugely significant and will continue to be so as the industry grows,” he said.
Online casino gambling is illegal in South Africa, however online sports’ betting is tolerated.
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