Tanzania Continues to Emerge in Africa with a New Regulation ModelPublished February 13, 2021 by Lee R
Tanzania has a chance to show the entire world a pioneering iGaming regulation model.
Tanzania is opening a new market in intriguing Africa.
The New Tax
The regulation model revolves around the Gaming Board of Tanzania's proposal to tax virtual games by 10%, as the primary regulation providing the foundation for expanding online gambling permissions across the jurisdiction.
Operators entering the region seeking new opportunity would pay the 10% tax on gross gaming revenue upon adoption of Board recommendations.
Scope of Powers
As the regulatory body in Tanzania, the Gaming Board is further responsible for advising the national government on all gambling taxes, levies and fees for gambling, with applications of regulation thus falling squarely in the Board's purview.
The Liberalisation Era
The approval of virtual gambling regulation comes as part of a greater set of amendments to the country’s Gaming Act announced in October 2019.
Application of Guidelines
The 2019 amendments additionally provide a myriad of categorical new licensing guidelines applicable to profit lotteries; service providers; entities supplying goods or services to operators; and gaming consultants.
The Gaming Board was also given sweeping new powers for approval standards for operator product advertisement, to conclude Tanzania's prevailing relatively stifling partial ad ban.
Tanzania's Leading Role
This new step forward from the original 2019 guidelines is a major leadership gesture for Tanzania within the African continent.
As a pioneer in the gambling industry, Tanzania continues to take the appropriate steps have to establish a state-of-the-art regulatory authority, regulation infrastructure, and set of procedures for seamless operations in this iGaming jurisdiction on the African content.
Forging a Reputation
Known for a relatively liberal outlook and attitude towards gambling, the jurisdiction has taken was an early launcher of iGaming with its first online casino since 2013 is blazing a path with its leadership role to establish the jurisdiction as an emerging iGaming force in Africa.
Since then, Tanzania has led Africa with enhanced gaming experiences that include diverse casino offerings, innovative live dealer games and popular progressive jackpots, in addition to sports betting.
The initiative is open to public opinion by stakeholders until 7 February.
Public feedback may be the last step in propping the Tanzania regulation model up as one of the most progressive not only in Africa, but in the world.