|Monday, October 11, 2004||Contact: The National Horseracing Authority of South Africa|
00 27 11 683 9283
|Betting exchanges remain prohibited in South Africa|
According to the National Horseracing Authority of Southern Africa (formerly the Jockey Club of South Africa) the use of betting exchanges in South Africa remain prohibited. The illegality is not effected by the signing of the MOU with Betting Exchange operator Betfair.
“Betting Exchanges are not permitted to operate in South Africa and we strongly believe that this prohibition should be maintained", says Rob De Kock, Chief Executive of the National Horseracing Authority of South Africa.
“It should be understood that South Africa’s only commercial arrangements with Betting Exchanges are strictly limited to betting that was already taking place in Britain on South African racing”
"The MOU with Betfair was an option given to us through these limited commercial arrangements, and our primary interest is in determining whether people resident in South Africa are using their service in contravention of South African Foreign Exchange regulations and legislation”
“This arrangement is not an endorsement of Betfair and it would be misleading for anyone to portray it otherwise”, concludes De Kock.
|For additional information, please visit www.nhra.co.za|
|E-Mail : email@example.com|