Abstract
Online sport betting is not only a means of entertainment but is also an income
generating means for Governments and organisations around the world. Up until 1994
online sport betting in South Africa was illegal. Consequently many travelled outside
of South African borders to participate in gambling activities which meant that the
Government was losing huge sums of tax revenue. The legalisation of online sport
betting in 1994 meant that Governments could now benefit from this type of gaming
revenue, benefiting economic and employment development.
Since 1994 the online sport betting industry has seen tremendous growth, surpassing
horse racing in the gambling industry and currently sitting second, behind casinos, in
the Gross Gambling Revenue generated country wide. Within the online gambling
industry in SA and worldwide, sport betting and horse racing fall into separate
categories due to their history and betting types. Horse racing has existed for hundreds
of centuries and requires a specific set of betting markets to be able to place a bet
never mind the percentage of winnings that are taxed and put back into the sport.
Sport betting on the other hand has only been in existence for one decade and affords
the flexibility to offer different and various other markets to be bet on, and is not
required to pay tax.
Up until now the limited research available on online sport betting in SA makes it
difficult for one to understand sport betting, its history and growth. The areas of growth
within the sport betting industry are unclear, the reason how online sport betting has
managed to surpass horse racing and compete with casinos is unknown and the sport
betting industry regulation and operation is complex. It is these questions that led to
the research problem. The information that is easily accessible on the online sport
betting industry is limited, resulting in one having to sift through numerous websites
and various articles to begin to understand that sport betting is illegal, the regulation
of the sport betting industry, how the sport betting industry operates and how does
one partake in sport betting. The primary objective of the study is to provide an in
depth analysis of the state of the online sport betting industry in South Africa.
The analysis of the sport betting industry will be completed by using identified
secondary objectives. Secondary objectives are the identified aspects that will lead to...
M.Com. (Business Management)