The Safest Way to Gamble in South Africa – The Lottery
Founded in 2002, more than €4,300,000 worth of lottery tickets were sold within the first 2-3 weeks of its launch.
Almost 20 years later, the lottery has continued to flourish and approximately 70% of people play the lottery every day.
Is it Safe?
Is the South African lottery safe? It appears so.
The website has some strict rules and ensures that only those of legal age can play. In addition to this, there appears to be a low risk of fraud.
Interestingly, playing the lottery is thought to be the safest way for you to gamble in South Africa.
Data is kept safe and away from companies who would happily pay for it.
Winnings are also kept safe and can be withdrawn relatively easily.
Some of South Africa’s websites are best avoided, however, this is not the case when it comes to the lottery.
Considered to be easy to win, the lottery has some impressive odds when it comes to the jackpot. The odds are approximately 1:376,992.
Taxing Lottery Wins
In many countries around the globe, winnings are taxed.
This means winners could have significantly less money in their bank account than they hoped. However, this is not the case when it comes to South Africa’s lottery.
You will receive all the money you have won if you’re playing out of enjoyment. If you’re a professional gambler, you will have to pay tax.
Tax-free lottery wins could become a thing of the past since there has been talking of adding a 6% tax levy on all wins.
In addition to this, there may be 1% added to the casino’s revenue.
If that wasn’t enough, those who win more than R25,000 could be forced to pay a 15% withholding tax.
This means that R3,750 will be taken if a player were to win R25,000. This is quite a lot of money, which the government would be happy to take.
It’s always best for you to check your local tax laws so you know if you need to pay anything.
How the South African Lottery Works
Anyone who plays the South African lottery will have the chance to choose six numbers from 1 to 52. When they enter a lottery, they will be assigned a bonus ball. This bonus ball is chosen completely at random.
When it comes to the draw itself, players will find that there are 8 different prize divisions. 4 of the divisions allow prizes to be boosted when the bonus ball is matched.
· Prize 1: Match 6
· Prize 2: Match 5+1
· Prize 3: Match 5
· Prize 4: Match 4+1
· Prize 5: Match 4
· Prize 6: Match 3+1
· Prize 7: Match 3
· Prize 8: Match 2+1
Until 1996, gambling was illegal in South Africa. However, since 2000, there has been a lot of change in the country’s lottery industry.
As soon as gambling was legalized, more than 800,000 tickets were sold in the first 24 hours.
Since then, there have been three major lottery operators in the country.
In addition to this, digital scratch cards and 7 different lotteries have been added. One impressive side of the lottery is the actions of one of South Africa’s largest providers.
They pay 34% of the revenue gained from ticket sales to a charity distribution fund. This fund ensures that many programs and other charities in the country are funded.
Lottery Playing Foreigners
It is perfectly legal for foreigners to play the lottery in South Africa.
However, certain criteria have been set out which limits who can play. The winner of the South African lottery is required to have an original South African lottery ticket.
In addition to this, they will need a passport that is still valid while also being permitted to enter the country.
This is because winners will need to already have a bank account.
They will also need to submit some proof as part of their lottery claim. Only once the bank is satisfied can the money be taken out of the country.
There are clearly some limitations to foreigners playing the lottery in South Africa.
For everyone else, it presents a real opportunity to win large sums of cash, tax-free for now.
The South African lottery is safe and is enjoyed by most of the population all year round.