Sao Tome and Principe is a country on the southeast part the Gulf of Guinea in the western part of Africa. In the 12th of July 1975 Sao Tome and Principe formally became an independent democratic republic. The island nation is a perfect combination of the classical and the novel approaches to gaming. In this blog post we are going to briefly discuss about betting sites in São Tomé and Príncipe, starting from history of gambling laws, regulating authorities, forbidden and allowed types of bets and many other things.
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Table of Contents
Summary of Key Events
Overview of the Regulation of Gambling Over the Years
The gambling industry of São Tomé and Príncipe has undergone through a through transformation in the recent past. The birth of its independence in 1975 was the start of its gambling legislations. However, it was not until 2004 that great progress was made particularly with the legalization of gambling.
- 1975: Independence from Portugal
- 2004: In accordance of the Law 1/2004 effective from 2005, gambling is legalized.
- 2005: Significance of Decree 4/2005 which was an additional regulation to the primary gambling law and helped eliminate its defects.
This legislation paved way to a legalized gambling system, this made sure that gambling would only operate within the legal framework of the country.
Regulatory of Betting Sites in São Tomé and Príncipe
There are several bodies that regulate the gambling business in São Tomé and Príncipe. The following are the bodies that make sure that all gambling activities are legal and upright.
- Ministry of Tourism: In charge of the issuance of licenses of gambling businesses
- National Gaming Board: Responsible for ensuring that gambling laws and regulations are adhered to and enforced.
- Financial Investigation Unit: Championing of the anti-money laundering laws
These agencies are very vital in ensuring the authenticity of the gambling industry.
Prohibited and Permitted Bets
São Tomé and Príncipe have specific laws that define the kinds of bets that are allowed and the kinds that are not allowed.
- Permitted Bets:
- Certain games of chance (for example, blackjack, slot machines)
- Sports betting
- Lottery and bingo
- Prohibited Bets:
- Unauthorized online gambling platforms
- Unlicensed gambling activities
Nevertheless, the majority of people continue to gamble on foreign websites, since the enforcement of these laws is rather weak.
Gambling Licenses and Fees
Gambling business in São Tomé and Príncipe is regulated and one has to acquire a license through a public tender. This act created legal provisions for the regulation of the casino business through issuing licenses, imposition of taxes and control and supervision of the casino business.
License Types:
- Land-based casino licenses
- Sports betting licenses
Fees:
- Depends on the conditions stated in the tender document that is to be provided.
- The least tax that should be charged on the gross gaming profits should be 20%
- This structure makes it possible for gambling businesses to be part of the economy of the nation while at the same observing the law.
Gambling Taxes
Gambling businesses in São Tomé and Príncipe are subject to specific tax rates:
- Its bonus is 20% of the gross gaming revenue which is quite good.
- Other additional corporate taxes exist today, and they stand at 25 percent.
To the players, there is no regulation on taxation of gambling winnings as is present in the current laws.
Popular Betting Sites in São Tomé and Príncipe
Popular Platforms
Many can trusty betting sites are available for the people of São Tomé and Príncipe. These platforms provide different games for casinos and sports betting.
22Bet
22Bet Casino: Provides the player with a large number of games in the casino and betting on sports. The payment options available include credit/debit cards, e-wallets, and cryptocurrency.
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Melbet
Melbet Sportsbook: Renowned for offering a vast number of betting options besides accepting payments through credit cards, mobile payments, and cryptocurrencies.
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Betmaster
Betmaster Betting Site: Is distinguished by a high probability of winning on popular sports and numerous payment methods.
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These sites are safe to use and offer the users the best possible experience while they are betting.
The Timeline of Major Sports in São Tomé and Principe
Sport is highly developed in São Tomé and Príncipe and is an essential part of the life of its people. The nation has gone through some significant happenings in the sports fraternity of the country.
- 1996: The national football team of São Tomé and Príncipe got to the Africa Cup of Nations.
- 2003: The other great accomplishment of the year was marathon runner Celma Bonfim who clinched the gold at the African Championships in Athletics.
These occurrences have thus played a part in the ever rising popularity of sports betting in the country.
Celebrating Sports Stars
São Tomé and Príncipe has raised several sportsmen who have performed well in the international forums.
- Fernando Varela: Footballer who is currently in the team of Sporting CP.
- Celma Bonfim: Marathon runner and a gold medalist at the African Championships
Their success has motivated the young fostered sports men and women in the country.
Peeping into the Neighboring Countries
Different countries that are neighbors have different laws concerning gambling. Here’s a brief overview:
- Nigeria: Nigeria has legalised gambling with a proper and structured market that runs the gambling business. The government regulates different types of betting, which are sport betting and lotteries, to protect consumers and maintain fair play.
- Ghana: Ghana has sound gambling laws with a special focus on the prevention of gambling related vices. The purpose of the regulation is to minimize the risk of gambling addiction and protect certain categories of people, at the same time ensuring the proper functioning of the gambling industry.
- Cameroon: Gambling is legal in Cameroon with the only constraint being that there are certain rules pertaining to the land based casinos. These regulations are meant to ensure that all the operations of a casino are well protected and that the casino meets certain standards that are beneficial to the industry as well as the players.
Conclusion
Gambling activities in São Tomé and Príncipe has evolved to provide people with many opportunities to place their bets. Whether you are a fan of online casinos, or you prefer putting your money on sports, there is no way you will be left out. To find top betting sites in São Tomé and Príncipe, begin your search now and join the world of legitimate and legal betting.
FAQ about Betting Sites in São Tomé and Príncipe
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