Betfair account

rob faux Wrote:

---

> Theoretically there is no additional tax on
> gambling winnings,however there is a clause that
> allows SARS to make exceptions and classify
> someone as a Pro gambler and the description is
> something along the lines of "if you gamble
> consistently and systematically" Sars can change
> the rules.They are loathe cos the moment you are
> re-classified,you can claim all losses!
> That is a basic understanding.

Can you voluntarily declare yourself a Pro Gambler Rob? After last year I'd love to as I'm sure I'd get a great big refund cheque from SARS(tipped well should never have punted a single bet!!)

But is it legal for an SA punter to bet via Betfair? Can it be funded from an SA bank account or card? If you have an overseas "investment" account (part of your overseas investment allowance) is it legal to use that? Anyone have definitive answers?

Bump. Anyone?

No one has a definitive answer.

There was a thread a while back (you can find it with a search for Betfair) where I posted some references to 'rules' from the gambling board, NHA, and exchange controls.

I did run a search on "Betfair" but I didn't find anything that added to what was already in this thread.

Archangel,If you read the warning in computaform,which is intended to scare you off Betfair,you will note that the only law referred to,is one relating to forex and it has been my contention for ages that it was the only issue.
A few months ago I happened to spend some time with a fairly senior member of the gambling board(senior enough to have had involvement in certain drafts within the act).
My question to him was"if I have money legally in the UK and I am not in contravention of forex,reserve bank or Sars,is there any other law which prohibits me from trading on Betfair" The answer was NO.
Insofar as the "laying without a licence" being illegal IN SA,that is so,and why Betfair or any other exchanges may not,at this point,conduct business here.However,gambling debts are now legally enforcable and are therefore contracts,and as the matching of bets(offer and acceptance)takes place off-shore,where such transactions are legal,it does not contravene SA laws.
I know that at least one bookmaker was charged with trading on betfair,but that was due to business licencing issues and forex,or so I am told.I am not very clear on the details of that.

The irony is that "P" has contracts with this "illegal" which suggests that betfair is accepted here,for co-mingling purposes at least,and a tote is a betting exchange,anyway
Exchanges are inevitable in SA in my opinion...just a matter of when!

Rob, thanks for that! I guess if you have money offshore legally, you should be able to employ it overseas legally too.

Rob seems to have the most current info. If you want to check the old thread, Archangel, it's this one: www.africanbettingclan.com/forum/phorum-...27,106045#msg-106045

the doc attached appears to clarify the message

what i don't understand is why there isn't a proudly south african betting exchange?

i have just moved to SA from the UK and am looking for a betfair type offering in rands.

Attached files Notice0022007warningofinteractivegambling-1.pdf (102 KB)Â

That notice,dated 2007,refers to an act of 2004.It is out of date.......If you watch DSTV you will see on-line casinos advertised every hour,which would contravene this notice.
It is also ironical that "P" who publishes computaform,which includes the "warning",advertises Piggs Peak's on-line gambling,on its TV channel,Tellytrack!
Apparently this issue of advertising of on-line gambling is presently the subject of litigation and a new "status" is awaited.