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Good Going On South Africa's Gambling Industry

"Initiatives to legalise Internet gambling, however, could see 140 million US dollars in foreign exchange earned by South Africa within two years.

"Speaking at the Fleming Martin Consumer and Investment Conference in Cape Town this week, commerce expert Peter Collins said that revenues realised by casinos in Gauteng indicated that the expected propensity to gamble, estimated prior to the opening of new casinos, had been 1.36 percent of disposable income.

"Earnings, however, suggested that 1.6 percent was already being expended on casino gambling, with some permanent casino facilities yet to open.

"…Collins said that legalising Internet gambling would not bring about any significant gambling by South Africans. At present, relatively few South Africans have access to the Internet. The country accounts for only 1.5 million out of 140 million Internet users world- wide.

"…He noted that an important additional benefit for South Africa, to be derived from the introduction of a credible regulatory environment for Internet gaming, is that it would also act as a spearhead for the development of the country as a thriving centre for e-commerce.…"

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