SA NGB to Hold Major Gambling Conference
According to the latest research South Africa’s gambling industry is predicted to grow at a compounded rate of more than 5% and be worth almost R35 billion by 2021. The burgeoning sector requires proper regulation, and stakeholders need to discuss exactly what to put in place. On 18 and 19 July 2019, they will meet in Pretoria to do just that.
The country’s National Gambling Board (NGB) is hosting the two-day conference, called The Gambling Regulators and Operators Dialogue, in The Maslow, Time Square. Delegates from the Department of Trade and industry, national and provincial regulatory bodies, casino and sportsbook operators and shareholders, equipment manufacturers and other stakeholders are expected to attend.
The Bingo Association of South Africa, Casino Association of South Africa, Limited Payout Industry, South African Gambling Manufacturers Association, Limited Payout Industry and other prominent groups will all be represented. The NGB plans to share the latest studies and facilitate discussions on industry regulations and the transformations that the fourth Industrial Revolution will bring.
Industrial Revolution Changes
Each Industrial Revolution refers to a major shift in how humanity generates and harnesses power, in order to be “industrious” – whether in work, leisure or daily life tasks. The First Industrial Revolution was the move from a reliance on human and animal strength to harnessing fossil fuels and generating mechanical power. The Second was concerned with breakthroughs in communication and electricity distribution, and the Third, which began in the 1950s, saw rapid growth in computing power and digital systems.
Every Revolution develops from the technology that came before. The widely-held expert opinion is that the world is entering the Fourth Revolution now, with technologies becoming embedded in our society in completely new ways that would not have been possible without the strides in information generating, processing and sharing that characterised the third Revolution.
4th Revolution Impact on Gambling
Artificial Intelligence, Virtual and Augmented Reality, blockchain ledgers, machine learning, big data mining and other fourth Revolution cyber advances have already had an impact on the online gambling industry, and will continue to do so. The way operators entertain and interact with bettors, along with how they obtain and store information about them, changes as technology develops.
To maximise the profit and enjoyment potential of online gambling, it’s essential that digital sportsbooks and casinos understand and embrace the fourth-wave evolution. That’s why it will form a major part of the conference, explains NGB Chief Strategic Advisor Caroline Kongwa.
Vital for Industry Stakeholders
Kongwa said that the NGB was “delighted” to be hosting the conference, and with the calibre of the presenters. She explained that plenary sessions on the Fourth Industrial Revolution would be held, and two separate abstract sessions would further cover the transformational aspect of the gambling sector.
With current and future betting and gaming regulation and technology being covered in such detail, Kongwa continued, the event was “essential” to anyone involved in any part of the industry. The NGB’s National Gambling Registers will be launched, and members of the public are encouraged to attend not only to see these important lists but also to increase their knowledge and understanding of the industry in general.