With a few taps on your phone and some digital currencies, you make bets on some bookies in South Africa, and that trend is growing exponentially. Many offshore bookmakers and casinos are increasingly entering the South African gambling industry, offering a chance to bet or play casino games using cryptocurrencies.
Here in South Africa, cryptocurrency is legal, but using your crypto to bet is currently in a grey area, and this has led many to suggest that the government will crack down strictly on this loophole. Will this be the case, and which bookmakers should you use for betting in South Africa? Here are TopBets Africa thoughts!
The South African Gambling Act
To get a grasp of this situation, one must first understand the South African gambling laws, which were amended in 2008. This amendment outlined a very sharp line between various types of gambling. Land-based casinos were allowed under very strict licensing, and sports betting remains largely unaffected, but interactive gaming activities like casino gaming were banned.
The Betting with Crypto Paradox in South Africa
As mentioned earlier, cryptocurrencies are in a grey area in South African legal parameters. For starters, it is not a legal tender, and tax can’t be paid with it. However, many residents use it, and many bookmakers offer it as a payment method.
Betting taxes are being paid in South Africa, but crypto is not a legal tender. However, since 2022, the Financial Sector Conduct Authority (FSCA) declared crypto assets a financial product, thereby making them somewhat legal.
But can you use crypto as your payment method in SA bookies? Let’s see below!
Are There Local Licensed South African Bookies That Offer Crypto as a Payment Method?
Are there local licensed South African bookies that offer crypto as a payment method? The short answer is no. As at the time of putting together this content, there are no local bookmakers in South Africa (like Hollywoodbet) that offer crypto as a payment method. You won’t find it due to strict National Gambling Board and FICA regulations. However, international bookies offer this feature for South Africans.
Bookies that Operate in South Africa and Offer Crypto As Payment Method
Residents in South Africa have long been using crypto like Bitcoin to bet on international bookmakers, although it is riskier because these bookies are registered offshore. Below, we’ll share some of these bookies:
BC.Game
BC.Game is one of the most popular international bookmakers in the world. Known for high limits, live betting, and a dedicated sportsbook, BC.Game is one of the international bookmakers trusted and used by South Africans. They offer bitcoin, ethereum, and many other forms of crypto for both deposit and withdrawal for South African bettors.
Rainbet
Rainbet is another top international bookmaker that offers services in South Africa, among other nations in Africa and other continents. The bookmaker offers South Africans large crypto welcome bonuses and extensive sports markets.
They offer various cryptocurrencies like Ethereum, Bitcoin, XRP, Litecoin, etc. as deposit and withdrawal methods.
Cloudbet
Cloudbet is another international bookmaker that offers South Africans a large variety of sports and esports alongside crypto support. There are various promotions and a welcome bonus on this platform. For the most important part, they offer crypto payment methods such Bitcoin, XRP, Ethereum, Litecoin, etc.
Conclusion
Betting with cryptocurrency in South Africa will always remain in the grey area of the law until the government gives certain clarity on how digital currencies will be used in the country. Many are expecting a crackdown on these international services offering crypto betting to South Africans, but what the government will do next is up for discussion.
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