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Gambling Options with the South African Rand

Gambling Options with the South Africa

The South African Rand is another popular currency for gambling, mainly because many people from South Africa enjoy gambling. Some of the most popular sports there are rugby, football, and cricket, but that doesn’t mean that other sports are being neglected. Thanks to this article, you will learn which betting sites will allow you to bet using the South African Rand and what are the best deposit methods. We will also tell you if there is a gambling tax on winnings in South Africa.

Where can you bet using Money in South Africa?

Our research showed that there are only two websites which will accept payments in ZAR – BetVictor and bet365.

  • Bet365 – This is a site that offers a great opening bonus for all new customers, in addition to the many deposit options that they have, for example, Click2Pay, Entropay, Skrill, Ukash, cheque, wire transfer, and debit or credit card. You can also use them for withdrawals, the only exception being Ukash.
  • BetVictor – This is the other option for people who want to top up their accounts using South African Rand, but unfortunately, the deposit options aren’t many. In fact, the only way you can deposit or withdraw money is via credit or debit card, which is very restricting for many punters.

Gambling Tax in South Africa

In 2011, a 15% tax on gambling winnings was introduced in South Africa, but it’s debatable exactly how many people pay it, especially when it comes to online gambling.

There are other taxes which apply to gamblers such as VAT and the 6% provisional tax. That puts South African punters at a disadvantage, but it’s unlikely that any other gambling tax will be implemented because the government doesn’t want to harm this industry.

What payment methods should people who want to deposit in South African Rand use?

Skrill

Considering that online gambling is legal in the country, there’s no problem in using your debit or credit card to make payments or withdraw money. That will guarantee fast transaction times and the possibility to make bets quicker.

One thing to keep in mind is that when using a credit/debit card, the transactions are visible in your bank account. This means you will have to pay the enormous gambling taxes. That’s why if you want to avoid this (we wouldn’t recommend it), the best option for you is a payment operator like Skrill. That way the financial transactions made to and from the bookmaker won’t be visible on your bank account.

We don’t endorse this behavior in any way; it’s just standard practice for people who don’t want to pay gambling taxes and are looking for an alternative way to deposit money into their gambling accounts.