South Africa Gaming License
No national South Africa gaming license exists. Nine provincial licensing authorities issue operator licenses instead, under the National Gambling Act 7 of 2004 and nine provincial statutes. The National Gambling Board supervises those authorities and issues nothing itself. Online sports betting runs on a provincial Bookmaker Licence; no South African interactive gambling license exists.
| Item | Position as of September 2026 |
|---|---|
| National license | None. Nine provincial licensing authorities issue operator licenses |
| Regulator | The National Gambling Board supervises the provinces and issues no operator licenses |
| Governing law | National Gambling Act 7 of 2004 plus nine provincial acts |
| Online or interactive license | Does not exist. Online sports betting runs on a provincial Bookmaker Licence |
| Timeline | Four to 12 months on practitioner estimates, depending on the provincial authority |
| Taxation | Provincial GGR tax, about 6.5% for bookmakers, plus 15% VAT on GGR |
| Participation age | 18 for gambling, betting and lotteries |
What is a South Africa gaming license?
Gambling is a concurrent competence under the South African Constitution. Nine provincial licensing authorities therefore issue operator licenses under nine separate provincial acts, with no single national instrument. Each license is valid in its own province. A licensed bookmaker may still accept telephone and online bets from residents of any province.
Every gaming license in South Africa sits under the National Gambling Act 7 of 2004, which sets the national norms and definitions. Each province then licenses operators under its own statute, and each statute fixes its own fees, tax rates and license categories.
One point trips up most published guides. The National Gambling Board does not issue operator licenses. Nine provincial licensing authorities do, and a license is valid in the province that granted it.
Country-wide reach works differently. A bookmaker licensed in any province may lawfully accept telephone and online bets from residents of every other province. That mechanic is what gives one provincial license national customer reach. No provincial license carries the right to operate a licensed venue in another province.
Who regulates gambling in South Africa?
Three bodies matter. The National Gambling Board sets national norms and evaluates how provinces license and monitor operators. Nine provincial licensing authorities issue every casino, betting, bingo and machine license. The National Lotteries Commission regulates the National Lottery and society lotteries under separate national law.
| Province | Licensing authority | Provincial act |
|---|---|---|
| Eastern Cape | Eastern Cape Gambling Board | Eastern Cape Gambling and Betting Act 5 of 1997 |
| Free State | Free State Gambling, Liquor and Tourism Authority | Free State Gambling and Liquor Act 6 of 2010 |
| Gauteng | Gauteng Gambling Board | Gauteng Gambling Act 4 of 1995 |
| KwaZulu-Natal | KwaZulu-Natal Economic Regulatory Authority | KwaZulu-Natal Gaming and Betting Act 8 of 2010 |
| Limpopo | Limpopo Gambling Board | Limpopo Gambling Act 3 of 2013 |
| Mpumalanga | Mpumalanga Economic Regulator | Mpumalanga Gambling Act 5 of 1995 |
| North West | North West Gambling Board | North West Gambling Act 2 of 2001 |
| Northern Cape | Northern Cape Gambling and Liquor Board | Northern Cape Gambling and Liquor Act 6 of 2024, declared unconstitutional and invalid on 17 April 2026, pending confirmation by the Constitutional Court; the repealed Northern Cape Gambling Act 3 of 2008 is the instrument it replaced |
| Western Cape | Western Cape Gambling and Racing Board | Western Cape Gambling and Racing Act 4 of 1996 |
National Gambling Board (NGB)
The National Gambling Board supervises regulators, not operators. Under the National Gambling Act 7 of 2004 the Board evaluates how provincial authorities issue national licenses (s.33). Oversight evaluations of the authorities themselves fall under s.34. Section 65 gives it the national registers and the duty to monitor uniformity of legislation. Section 27 places the national central electronic monitoring system for limited pay-out machines in its hands.
Anyone hunting for a South Africa gaming license application form at the National Gambling Board is in the wrong place. The Board issues none.
Two Board initiatives from 2026 are worth tracking. A Verified Gambling Operators portal now lets players check whether an operator is licensed. The Board also issued an expression of interest for a system to monitor and block illegal gambling sites. The original closing date of 7 August 2026 was extended by an amendment of 17 July 2026 to 4 September 2026. No blocking system is running yet.
Nine provincial licensing authorities
Provincial authorities hold the sole mandate to issue operator licenses. Each works from its own statute, which is why fees, tax rates and license availability differ across the country.
The nine statutes are the Eastern Cape Gambling and Betting Act 5 of 1997, the Free State Gambling and Liquor Act 6 of 2010, the Gauteng Gambling Act 4 of 1995, the KwaZulu-Natal Gaming and Betting Act 8 of 2010, the Limpopo Gambling Act 3 of 2013, the Mpumalanga Gambling Act 5 of 1995, the North West Gambling Act 2 of 2001, the Northern Cape Gambling and Liquor Act 6 of 2024, whose validity is before the Constitutional Court, and the Western Cape Gambling and Racing Act 4 of 1996.
Two of the nine regimes changed recently, and one of them is now in doubt. The Northern Cape Gambling and Liquor Act 6 of 2024 replaced the Northern Cape Gambling Act 3 of 2008 with effect from 4 April 2024 and created the Northern Cape Gambling and Liquor Board. On 17 April 2026 the Northern Cape High Court declared that Act unconstitutional and invalid, in Trustees for the time being of the DG Murray Trust v Speaker, Northern Cape Provincial Legislature and Others (3222/2024) [2026] ZANCHC 31, because the provincial legislature failed to facilitate public involvement as section 118(1)(a) of the Constitution requires.
What follows from that is unsettled rather than decided. Under section 172(2)(a) of the Constitution an order invalidating a provincial Act has no force until the Constitutional Court confirms it, and no confirmation had been recorded when this page was published, so the province has continued to operate under the 2024 Act. An operator weighing the Northern Cape should treat the legal basis of that provincial regime as undetermined and ask the Board in writing which Act it is licensing under.
In KwaZulu-Natal the Gaming and Betting Board was merged into the KwaZulu-Natal Economic Regulatory Authority in 2024. Licensing itself still runs under the KwaZulu-Natal Gaming and Betting Act 8 of 2010.
National Lotteries Commission (NLC)
Lotteries are national, not provincial. The Lotteries Act 57 of 1997 lets the Minister issue one National Lottery license at a time. Terms run for a minimum of five years and a maximum of eight. Society lotteries are licensed separately by the National Lotteries Commission.
The National Lottery category is closed to new commercial applicants. Only one license exists at any time, and it is held.
Is there a South Africa online gambling license?
No separate interactive or online gambling license exists in South Africa. Section 11 of the National Gambling Act 7 of 2004 bars anyone from engaging in or making available an interactive game. The only exception is authorisation under national law. The National Gambling Amendment Act 10 of 2008 would have created that authorisation, and it was never brought into force.
Parliament passed the Amendment Act in July 2008. Commencement was left to a presidential proclamation in the Gazette, and no proclamation has followed in eighteen years. The 2004 Act therefore still governs, and section 11 still prohibits unauthorised interactive gaming.
The practical effect is narrow and important. Online sports and fixed-odds betting is legal on a provincial Bookmaker Licence. Pari-mutuel betting is legal on a Totalisator Licence. Online casino, poker and slots have no license category at all. No operator can lawfully offer them to South African players, wherever that operator is licensed. The Supreme Court of Appeal settled this in Casino Enterprises (Pty) Ltd v Gauteng Gambling Board [2011] ZASCA 155. Gambling happens where the player is, not where the server sits.
Can a bookmaker license be used to offer online casino games?
Not in Gauteng, and the position elsewhere is disputed. The Supreme Court of Appeal decided Portapa (Pty) Ltd t/a Supabets v Casino Association of South Africa [2025] ZASCA 158 on 21 October 2025. Gauteng bookmakers may not take fixed-odds bets on the outcome of a roulette game.
The reasoning was statutory and provincial. Section 55 of the Gauteng Gambling Act 4 of 1995 limits a Gauteng bookmaker to bets on sporting events. Roulette, the Court found, is not a sporting event. The full case numbers are 182/2024 and 215/2024.
On 29 October 2025 the National Gambling Board said the consequences reach every bookmaker in the country. The Board directed all nine provincial authorities to stop authorising casino games offered through sports-betting platforms, and told bookmakers to withdraw those games.
The Western Cape Gambling and Racing Board and the South African Bookmakers' Association read the judgment narrowly. Their position is that it interprets one provincial statute, and that defining permissible contingencies belongs to each province. No court has resolved the disagreement.
For an operator the effect is commercial rather than academic. Identical products are being treated differently province by province, and any business case built on casino-style betting games carries unresolved legal risk.
What types of gambling license are available in South Africa?
South African statutes spell every license category in the British form. A South Africa gaming license therefore appears in official documents as a Bookmaker Licence, Casino Licence or Totalisator Licence. Nine categories matter to an operator or supplier. Operator licenses are provincial; the manufacturer and lottery licenses run at national level.
| License | What it covers | Online relevance |
|---|---|---|
| Bookmaker Licence | Fixed-odds and open bets | The only route to legal online sports betting |
| Totalisator Licence | Pari-mutuel betting, mainly horse racing | Relevant where the bet is pari-mutuel, not fixed-odds |
| Casino Licence | Land-based casino operation | No online equivalent exists |
| Bingo Licence | Bingo, including electronic bingo terminals, in some provinces | Venue-based only |
| Limited Pay-out Machine and route operator | Low-stake machines in licensed sites | Land-based only |
| National Manufacturer Licence | Manufacture, distribution, supply and maintenance of gambling devices, including online platform software and RNG games | Required for B2B suppliers selling to South African licensees |
| Testing Agent Licence | Testing and certification of gambling devices and software | Required before equipment goes live |
| Key Employee Licence | Named senior staff and managers | Applies to online operations |
| National Lottery Licence | The National Lottery, issued by the Minister under the Lotteries Act 57 of 1997 | Closed to new commercial applicants |
A gambling license in South Africa always names a specific activity, never a general permission. B2B suppliers are often caught out here. Manufacturing, distributing, supplying, leasing, selling or maintaining a gambling device requires a Manufacturer Licence, and the definition reaches online platform software and RNG games.
A South Africa betting license means a Bookmaker Licence for fixed-odds bets or a Totalisator Licence for pari-mutuel bets. Equipment and software are then tested by a locally licensed Testing Agent and certified against the SANS 1718 series of national technical standards. A licensed operator may only run devices supplied by a Manufacturer Licence holder.
Which province should you apply in?
Two provinces currently accept bookmaker applications on demand. Practitioner guides place the Western Cape and the Eastern Cape in that group. The other seven authorities issue licenses only in response to a request for application or a tender. Province choice sets the rules, the tax rate and whether you can file at all.
The Western Cape is the usual online hub. Practitioner guides report that a Western Cape bookmaker license does not require a terrestrial retail presence. That is what makes it workable for an online-only book.
A separate bookmaker premises licence applies where an operator also runs a physical betting shop. The premises rules are demanding: immovable premises, local health and safety compliance, a lease or landlord consent, a floor plan and public notices.
Mpumalanga reopened bookmaker licensing through a tender rather than on demand. Request for Proposals MER/Bookmaker/2025/01 was issued under section 24, read with sections 23 and 32B of the Mpumalanga Gambling Act 5 of 1995. Twenty licenses were available, against a provincial ceiling of eighty.
Mpumalanga's terms show what a tender adds. Each license covers one physical location or one online URL, and IT, customer support, administration and retail functions must sit physically in the province. The tender also required 0.1% of gross gaming revenue to the National Responsible Gambling Programme and 1% to corporate social investment in Mpumalanga.
One political risk belongs in this decision. In March 2026 Rise Mzansi MP Makashule Gana called for an immediate moratorium on new bookmaker licenses and a national online licensing framework. That call has not become law, and 3,135 licenses were issued to gambling and betting operators in 2024/25.
Who is a South Africa gaming license suitable for?
South Africa suits sports betting operators willing to incorporate locally and wait out a provincial process. Suitability also extends to B2B suppliers who need a Manufacturer Licence to sell into South African licensees, and to buyers of an existing licensed business. Online casino operators have no compliant route.
Scale is the reason to tolerate the process. The National Gambling Board's national gambling statistics for the year to 31 March 2025 record turnover of R1.5 trillion. Gross gambling revenue reached R74.5 billion, up 25.6% on R59.3 billion the previous year. Betting accounted for R52.0 billion of that revenue, or 69.8%, against R16.6 billion for casinos.
Who it does not suit is equally clear. A casino-first digital product has nowhere to be licensed. A crypto-first model runs into financial-sector licensing rather than gambling licensing. An operator unwilling to incorporate locally and open the ownership chain to probity vetting will not get through it. An operator planning to serve South African players from an offshore license has no lawful route either.
How it works
How do you get a South Africa gaming license?
Navigating the gaming license process can be complex. Here's a streamlined guide to each step.
Six steps, run by a provincial authority rather than a national one. You choose the license type and province, incorporate locally and disclose ownership for probity. You then file, survive a public objection period, certify your platform and wait for the board. Practitioner guides put the wait at four to 12 months.
No provincial act fixes a decision deadline, which is why published estimates differ. Chambers and Global Law Experts give four to 12 months, and ICLG gives five to 12. Technical content approval adds time after the licensing decision.
What are the requirements for a South Africa gambling license?
Requirements are substantive rather than procedural. A South African company, probity checks down to 5% beneficial interests, proof of financial standing and a business plan come first. Certified equipment and platform, a FICA compliance programme, responsible gambling measures and key employee licenses complete the file. Premises approval applies where the provincial rules demand it.
The participation age is 18 for gambling, betting and lotteries. Neighbouring jurisdictions set it higher, so the number is worth stating plainly: Uganda applies 25 to sports betting and casino play.
Financial standing, business plan depth and premises rules are set by the provincial act rather than nationally. The same operator therefore faces different paperwork in Gauteng and the Western Cape.
How much does a South Africa gaming license cost?
State fees are provincial and modest for bookmakers. A new Western Cape bookmaker license application costs R15,096, and the annual burden is R3,028 in license fee plus R12,089 in investigation fee. National license fees are uniform across provinces, while provincial fees differ by province and by whether you apply normally or under a tender.
| WCGRB license | Application or grant | Annual license fee | Annual investigation fee |
|---|---|---|---|
| Bookmaker | R15,096 | R3,028 | R12,089 |
| Casino operator | R604,111 | R302,056 | R9,063 per table plus R6,043 per slot |
| Totalisator operator | R302,056 | R6,043 | R151,035 |
| Limited Pay-out Machine operator | R302,056 | R151,035 | R3,028 per machine |
Read the annual columns together. The Western Cape Gambling and Racing Board charges the investigation fee every year alongside the license fee. A bookmaker's real recurring state cost is therefore R15,117, not the R3,028 headline. Guides that quote only the license fee understate the annual figure roughly fivefold.
Fees are fixed under the Western Cape Gambling and Racing Act 4 of 1996 and its fees regulations. The Board publishes the schedule without a revision date, so treat these amounts as accurate at 2 September 2026 and confirm them before you budget.
Fees in other provinces sit on a different footing, and only the Western Cape publishes a retrievable schedule. Mpumalanga's 2025 bookmaker tender attached socio-economic commitments of 0.1% of gross gaming revenue to the National Responsible Gambling Programme and 1% to corporate social investment. Those percentages outweigh any application fee. Ask the authority directly for a current schedule in any other province.
What taxes apply to gambling operators in South Africa?
Gambling tax in South Africa is provincial, not national, which separates it from most licensing jurisdictions. The base is gross gambling revenue, meaning stakes less payouts, and the tax period also varies by province. Bookmakers pay roughly 6.5% of gross gambling revenue, casinos between 10% and 15%, and 15% VAT applies on the same base.
| Layer | Rate | Base and notes |
|---|---|---|
| Provincial gambling tax, bookmakers | About 6.5% | Gross gambling revenue. Rates are set per province, and published figures cluster at 6% to 7% |
| Provincial gambling tax, casinos | 10% to 15% | Gross gambling revenue. The Western Cape applies progressive brackets |
| VAT | 15% | Charged on the net gambling base, on top of provincial gambling tax |
| Corporate income tax | 27% | Company profit, charged nationally |
VAT is the layer that catches new entrants. Value added tax at 15% is charged on the net gambling base, so it stacks on top of provincial gambling tax rather than replacing it. Corporate income tax at 27% then applies to company profit.
Provincial rates vary within the published spread. Reported figures put online betting between 6% and 7% across provinces, and casinos between 10% and 15%. Progressive brackets apply in the Western Cape rather than a flat rate. Several provinces also charge a separate betting or sports levy on top of the gambling tax. No central schedule publishes each province's rate, so the applicable figure comes from the provincial act and its regulations.
Provinces have a direct interest in defending that base. Gambling taxes and levies collected for provincial governments reached R5.81 billion in the year to 31 March 2025. That is a 20% increase on R4.84 billion the year before. That revenue explains why provincial authorities resist a national reading of their licensing powers.
What are the ongoing compliance obligations?
Licensed operators are accountable institutions under the Financial Intelligence Centre Act 38 of 2001. Item 9 of Schedule 1 covers anyone making a gambling activity available under a required license. That license may come from the National Gambling Board or a provincial licensing authority. Obligations run on a risk-based approach and cover AML, responsible gambling, advertising and renewal.
The Schedule 1 amendments took effect on 19 December 2022, closing coverage gaps that FATF mutual evaluations had identified. Customer due diligence, record keeping and suspicious transaction reporting all follow from that listing.
Responsible gambling obligations sit alongside AML. Products and advertising must carry health warnings and reference the National Responsible Gambling Programme. The programme is funded by an industry levy on gross gambling revenue. The National Gambling Board's responsible gambling standards notice sets minimum requirements for self-exclusion access, deposit limit visibility and communication restrictions after a self-exclusion request.
Reinstatement after self-exclusion requires counselling and the lapse of set periods. Section 13 of the National Gambling Act 7 of 2004 restricts credit. A licensee may not extend credit for gambling, in its own name or through a third party.
One requirement is absent, and it is worth naming. The Board's responsible gambling standards do not require affordability checks. Renewals carry probity review, and the depth of that review varies by year and by authority.
What are the advertising rules for gambling in South Africa?
Advertising is permitted and closely prescribed. Regulation 3 of the National Gambling Regulations requires three elements in every gambling advertisement. First, a warning against addictive and compulsive gambling. Second, the National Responsible Gambling Programme's name, toll-free number and slogan. Third, a statement that only people aged 18 or over may gamble.
Format rules sit on top of those three elements. In video and television advertising the message must appear in visual format, legible for at least three seconds. In printed and email advertising the warning must use a font at least the size of the body text.
Section 15 of the National Gambling Act 7 of 2004 carries the statutory restrictions on advertising, promotion and discounts. False or misleading advertising is barred, advertising unlawful gambling is prohibited, and advertising aimed at or likely to attract minors is barred.
Two layers sit above the statute. The Advertising Regulatory Board applies its Gambling Advertising Appendix through self-regulation, and it tightened that appendix in 2026. Some provincial acts additionally require a licensee's advertising to be pre-approved by the provincial authority. The Western Cape is the clearest case: a licensee may not advertise without Western Cape Gambling and Racing Board approval, and promotions carried on websites, mobile applications and related devices go to the Board's office for prior approval.
Check the pre-approval requirement in the province you are licensed in. On 1 December 2025 the National Gambling Board directed provincial authorities to act on influencer and brand-ambassador advertising. Licensees must withdraw non-compliant influencer promotions, and authorities may impose fines, extra license conditions or suspension. Anyone planning affiliate or creator marketing should read that directive before budgeting.
Advantages of a South Africa gambling license
Four advantages are verifiable. South Africa is the largest and most mature regulated gambling market in the region. A bookmaker licensed in one province may accept online bets from residents of every province. Bookmaker licenses are available outside a tender window in some provinces, and state application fees are low.
Market size carries the case. Gross gambling revenue reached R74.5 billion in the year to 31 March 2025, with betting at R52.0 billion. No larger regulated pool exists on the continent.
Cross-province reach is the structural advantage. One provincial Bookmaker Licence reaches the national customer base online, which is unusual in a federal licensing model.
Entry does not always wait for a tender. Practitioner guides place the Western Cape and the Eastern Cape among the authorities that accept bookmaker applications on demand, while the other seven license through a request for application or a tender, so a live filing window exists somewhere at most times.
State fees are low against the size of the prize. A Western Cape bookmaker application is R15,096 and the recurring state cost is R15,117 a year, against a market producing R74.5 billion of gross gambling revenue. The expensive parts of South Africa are process and probity, not the fee schedule.
Disadvantages and risks of a South Africa gambling license
A South African license also stops at the border. It covers South African customers, it is provincial in origin, and treating it as access to SADC or the wider continent is simply wrong.
The central disadvantage is structural. No interactive licensing regime exists, so there is no lawful online casino product to sell. Legal uncertainty after Portapa hits casino-style content specifically, probity reaches every 5% interest, applications face public objection, and nine separate rule sets replace one.
Timing is the second cost. Four to 12 months to a decision, plus technical content approval, is slow against offshore alternatives. Delays in technical content approval are reported at some authorities, so confirm current queue times before you set a launch date.
The grey market is the third. A Yield Sec study commissioned by the South African Bookmakers' Association in November 2024 put roughly 62% of online gambling activity with illegal operators. That activity is estimated to divert more than R50 billion in gross gambling revenue offshore each year, outside the market the National Gambling Board measures. An estimated 16 million people have used those platforms.
A licensed operator competes against that pricing and marketing freedom while carrying full compliance cost. Enforcement is improving but not yet effective, and the National Gambling Board's site-blocking system is still at procurement stage.
Political risk closes the list. In March 2026 Rise Mzansi MP Makashule Gana called for an immediate moratorium on new bookmaker licenses. The call has not become law, and 3,135 operator licenses were issued in 2024/25.
Why choose MGL for South Africa licensing
MGL runs the parts of a South African application that go wrong. We select the province and license type against your actual product, then incorporate the Pty Ltd. We build the probity pack for every beneficial owner and carry the objection stage. We coordinate Testing Agent and Manufacturer requirements.
We also read the risk on casino-style contingencies, which is where a South African business case most often breaks. That read names what each authority currently permits and what Portapa leaves exposed.
More than 300 licenses have been delivered across our jurisdictions. That is the only track record figure we publish. We do not claim approval rates and we do not guarantee outcomes, because no adviser controls a provincial board's decision.
How does South Africa compare with other African gambling licenses?
South Africa stands out twice in the African cluster. Licensing runs provincially rather than nationally, and no separate online license exists at all. Tax base, participation age and processing time differ sharply across the five jurisdictions below. Details for each neighbour sit on its own page.
| Jurisdiction | Regulator | Separate online license? | Tax base and rate | Age | Time to license |
|---|---|---|---|---|---|
| South Africa | Nine provincial licensing authorities, overseen by the National Gambling Board | No. Online sports betting runs on a provincial Bookmaker Licence | Provincial GGR tax, about 6.5% for bookmakers, plus 15% VAT | 18 | Four to 12 months |
| Uganda | National Lotteries and Gaming Regulatory Board | No. The channel sits inside the product license | 30% of stakes less payouts (s.48, Cap 334, from 1 July 2026) | 25 for betting and casino, 18 for the National Lottery | Decision within 21 days of receipt |
| Kenya | Gambling Regulatory Authority | Licensed under the Gambling Control Act, 2025. Applications ran through a transitional pause during the move from BCLB to the Gambling Regulatory Authority in early 2026 | Set by the Act; the gazetted licence fees and capital requirements are suspended by court order, while the Authority itself may license | Age of majority; the Act sets no single figure | Not published by the Authority |
| Nigeria | State regulators, after the Supreme Court ruling of 22 November 2024 | State-issued; no single federal license | Set by each state | 18 | Set by each state |
| Ghana | Gaming Commission of Ghana | Yes. Online licenses are issued | 20% of GGR in place of corporate income tax | 18 | Not published by the Commission |
Uganda, Kenya, Nigeria and Ghana each run a national regulator. South Africa is the outlier on both the provincial structure and the missing online license.
FAQ
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Online sports and fixed-odds betting is legal with a provincial Bookmaker Licence or Totalisator Licence. No interactive licensing regime exists, because the National Gambling Amendment Act 10 of 2008 was never brought into force.
No. That license type does not exist. Section 11 of the National Gambling Act 7 of 2004 prohibits unauthorised interactive games, and no national law authorises online casino, poker or slots.
No. Nine provincial licensing authorities issue every operator license. The National Gambling Board sets national norms, evaluates how those authorities license and monitor operators, and maintains the national registers.
Yes. A bookmaker holding a provincial Bookmaker Licence may accept telephone and online bets from residents of any province. That mechanic, rather than any national license, gives one provincial license country-wide customer reach.
Eighteen. The age of 18 applies to gambling, betting and lotteries alike. Uganda, by contrast, sets 25 for sports betting and casino play.
South African gambling law requires no separate license to accept crypto. The Financial Sector Conduct Authority declared crypto assets a financial product on 19 October 2022. A crypto asset service provider therefore needs an FSCA license, and FICA duties still apply.
No provincial act fixes a decision deadline. Practitioner guides put the wait at four to 12 months depending on the provincial authority, and technical content approval adds time after that.
Yes, and for most license types buying in is the only route. Options are buying the license from a current licensee, buying the business as a going concern, or acquiring an interest in the licensee. Any interest of 5% or more needs board approval.
Tell us what your product actually does. We will say whether a provincial Bookmaker Licence can carry it, and which board to file with. Two documents from you. If the honest answer is a Bookmaker Licence or nothing, we will say so.