South African iGaming operators have raised concerns regarding the ongoing expansion of prediction markets. The South African Bookmakers Association requested a sector ban last month due to noted unlicensed activity.
Regulatory Concerns and Industry Response
Industry representatives note that prediction platforms operate without established licensing frameworks. SABA highlighted the increasing number of unregulated services as a risk to market stability. The association formally proposed a prohibition on the vertical to address compliance gaps.
Local bookmakers state that unlicensed prediction markets create variable competition conditions. Stakeholders emphasize the need for consistent oversight to protect consumer interests. The proposed regulatory measures aim to align new market entrants with existing iGaming requirements.
Source: iGaming Expert.