Betting battle joined: Reserve Bank probes Betway
The South African Reserve Bank is investigating the gambling group Super Group (Betway) regarding potential breaches of exchange control regulations. The probe focuses on historical fund transfers for software services between the company's local and international entities.
Why it matters
The investigation highlights regulatory scrutiny into the financial practices of the gambling industry in South Africa.
In the middle of a snowballing gambling epidemic, industry leader Super Group (Betway and Jackpot City) has quietly made it known that it faces an investigation by the South African Reserve Bank (SARB).
The article reports on a regulatory investigation using available financial disclosures and public records.
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