South Africa is a larger solvent market and therefore one of the most attractive regions for the gambling business. In terms of economic development, South Africa occupies a leading position among all Africa countries. It accounts for about 28% of GDP, 40% of industrial and 30% of agricultural products of the entire continent. South Africa’s economy is in a state of steady growth and ranks 17th in the world in terms of GDP. The country managed to achieve such results thanks to the richest raw material base, a wide range of extracted land resources, a vast advanced technological base, and a market for a fairly cheap skilled and unskilled labor force.
Gambling in South African came under a strict ban in 1992 and only in 1996 restrictions had eased when the new South African government passed amendments in the gambling legislation to legalize offline casino games and sports betting.
Online bitcoin gambling in the country is high limited too. However, South Africans today are free to play on foreign bitcoin casino sites. Many bitcoin casinos, accept players from South Africa and offering them to play with no deposit bonuses.
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Bitcoin casino South Africa, the legal question
Offline gambling is actively developing in the territory of South Africa. The annual turnover from legally gambling is already approaching the $ 2.1 billion mark. This is roughly equal to half of the gambling income of Uganda, Nigeria, Tanzania, and Kenya altogether. But if everything is clear with offline gambling, then online gambling in the country is restricted. At the moment, you can bet online on sports, horse racing and that’s all. Blackjack, poker, slots are prohibited, so the activities of bitcoin casino South Africa are considered illegal, but many foreign and local online gambling websites continue to work with players from the southern republic.
With the development of Internet technologies, it has become meaningless to prohibit online games, since blocking is very easy to bypass. Governments of many countries have understood that it is better to monetize this industry in partnership with the largest gaming operators than to wage endless war, wasting time and money.
The same situation is observed in South Africa: local residents bypass protection without problems, operators calmly accept players and incomes flow past the state treasury. In defense of the South Africa government, it is worth saying that discussions about the law of online gambling are ongoing constantly. There are also positive results: for example, officials agreed to issue 10 licenses for online casinos, but at the moment these licenses have not yet been implemented. This is just a trial step, and there is still a long way to go before the final legalization of gambling on the Internet.
What about bitcoin?
As for Bitcoin at the moment, the legislation of South Africa is no different from most countries in the world – Bitcoin isn’t regulated at all. At the end of last year, Financial Sector Conduct Authority (FSCA) was proposed a bill that would treat crypto assets as financial products. Under the law, any person providing advice or intermediary services in relation to crypto-assets must be authorized in accordance with the Law as a financial service provider and must comply with the requirements of the regulation. These requirements apply to exchanges and cryptocurrency platforms, as well as brokers and consultants. But this is only a bill, not a law, and it is not even known yet whether it will be adopted. Plus, there is no word about bitcoin casinos, so the legality of bitcoin casinos in South Africa won’t change anytime soon.
Perhaps some of our South African readers are new to bitcoin gambling sites, well let’s show up cards. Bitcoin casino is a website that allows gambling with bitcoins. Bitcoins could be purchased separately or on the website of the particular casino (the last option is not available on all sites). Bitcoin casino RSA is similar to standard online gambling websites where bets are accepted in fiat, however, their payment system was built on blockchain technology, thanks to which users can deposit and withdrawal money instantly.
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Bitcoin casino South Africa deposit methods
The procedure for making a deposit in crypto at all sites is approximately the same:
- First of all, you need to sign up at a bitcoin casino;
- Then, you need to select the currency for replenishment (clarification: in some cases, the currency is selected at the registration stage). The most common cryptocurrencies for playing online casinos are Bitcoin, Litecoin, Bitcoin Cash, Ethereum, and Dogecoin;
- In the section “Replenishment of the account” (or similar in meaning, for example, “Wallet” or “Balance”), you can find out the address of the wallet, consisting of about thirty characters. Coins that will be used to play in the casino are transferred to this address. As an alternative solution for transferring bitcoins, you can use the QR code (scan with your mobile).
- You can transfer funds to it from your personal crypto-wallet, or through the crypto exchanger or cryptocurrency exchange.
The withdrawal procedure is also quite simple — you only need your own crypto wallet and if from it. Since these payments are instant and bypass banks, no one can trace them, which makes Bitcoin casinos absolutely anonymous.
Bitcoin casino SA bonuses
Promotions programs (bonuses) are an obligatory part of the work of any bitcoin casino. Bonus offers allow you to start playing free and get more chances to win. Here are the most common ones:
Free spins. The player receives a limited number of free rotations at bitcoin slots. You can use them on one or more slot machines listed in the conditions of the promotion. The slot has saved all prizes and rewards functions, symbols, payout coefficients, but there are several restrictions on free spins:
- Limit on the range of available bets;
- Maximum winnings;
- The time frame during which you can win back the spins.
Unlike no deposit bonuses, the winnings from free spins are immediately credited to your account and if the total amount on it exceeds the minimum withdrawal limit, you can transfer money to your crypto wallet immediately.
No deposit bonus. These are the top casino bonuses and the most desirable bonuses of most gamblers. The main reason – they are free. This type of reward in the gaming community is considered to be the most beneficial. You can count on it in exchange for performing actions such as: registering, attracting new customers, gifts for a birthday, or other holidays. You can get a bitcoin casino no deposit bonus 2022 South Africa at any website from our list. But you should carefully read the conditions for receiving bonuses since if you break at least one of them you will lose all bonuses.
Deposit bonus. This type has the most loyal conditions for receiving: the user needs to replenish his account with the amount set by the terms of the promotion. For this, the player receives additional money that can be used for betting. Most often, this is a percentage of the deposit.
I think now you have all the basic information that you need to play a bitcoin casino in South Africa, and finally, let’s take a look at the most frequently asked questions.
Advantages and disadvantages of the South African bitcoin casinos
- Available for Australian players;
- Generous rewards for South African players.
- South African Rand not accepted;
- High minimum deposit threshold.
Frequently Asked Questions about bitcoin casino South Africa
This option is available at some bitcoin casinos that accept players from South Africa. Newcomers are awarded bonuses for registration or for the first deposit. As a free bonus, you can get in-game currency and free spins.