History of South African Rand The rand is South Africa’s official currency. On top of that, it also holds legal tender in three Common Monetary Area member states, including Namibia, Eswatini, and Lesotho. While these countries have national currencies, the South African rand is still seen as a viable replacement for them. The currency doesn’t have too long of a history, having been introduced in 1961 in the Union of South Africa, just before the country became a republic. Interestingly...
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History of South African Rand

The rand is South Africa’s official currency. On top of that, it also holds legal tender in three Common Monetary Area member states, including Namibia, Eswatini, and Lesotho. While these countries have national currencies, the South African rand is still seen as a viable replacement for them. The currency doesn’t have too long of a history, having been introduced in 1961 in the Union of South Africa, just before the country became a republic. Interestingly enough, the rand was introduced alongside a mascot and a jingle to inform the public of the change!

As it stands, the South African rand comes in the form of five banknotes and six coins. The banknotes are 10, 20, 50, 100, and 200 rands. The coins include 10, 20, and 50 cents, 1, 2, and 5 rands, and Krugerrand. While the currency might not be the most popular one out there, it does get a decent amount of traction when the online gambling scene in Africa is in question.

Safe Casino Deposit Methods that Accept South African Rand

history_of_south_african_randAs we’ve already mentioned, the South African rand might not be the most popular currency out there, but it’s still big enough that it’s offered as an option with plenty of online casino payment services. While South Africa has restrictions in place for online gambling, nothing is stopping other countries from using the currency if they choose to. Thankfully, there are several options you can pick and choose from. In the list below, we’ve set aside the five best methods of the bunch:

  • VISA: If you’re looking for a more traditional payment method that won’t let you down, then using a VISA credit or debit card is a great way to go. As the leading bank card worldwide, VISA is a well-established brand with access to most online casinos. The option is secure, reliable, and easy to use. Sure, it might not be as quick as most modern payment services out there, but its stellar reputation is nothing to underestimate!
  • EasyEFT: EasyEFT is a South African funds transfer service that gets plenty of attention in the region. The service acts as an intermediary between your bank account and the online casino of your choice, allowing you to make transfers without the need for a credit card! The convenience that comes with this is something many South African players love. Of course, the wide availability of the service also doesn’t hurt.
  • SwiffyEFT: SwiffyEFT, also known as SwiffyPay and Wiffy EFT, is another South African payment service with excellent reach. The service is based on the popular Electronic Funds Transfer system available in the country, and it's a stellar option for players that don’t have access to a credit card. To use SwiffyEFT, all you need is a bank account! The service is easy to use, the transactions are quick, and the fees attached to it are on the lower end.
  • SiD: SiD or Secure Instant Deposit is another South African payment option that takes advantage of the country’s EFT system. The service might not be as popular as some of the other options on this list, but it does have a few excellent perks that cement its spot there! Mainly, SiD is a fully online solution that makes transacting as easy as pie. On top of that, deposits and withdrawals with the method are pretty quick, which is a treat for most players!
  • Skrill: Of the several eWallets popular in the South African region, Skrill is arguably the best option. The service is not only the most popular one around, but it offers perks that every user can get behind. Of these perks, the fast processing speed and small fees are hits among fans. The convenience of the method isn’t too far behind them. Since it is an eWallet, you can use it through PC or mobile as long as you have an internet connection.

Gambling Restrictions for South African Rand

The gambling situation in South Africa is complicated. The country has legalized and banned the activity several times, leaving gambling fans confused and frustrated. Currently, licensed sports betting and horse racing are legal in the region, while other forms of online gambling are prohibited. While you might be disappointed by this, there’s still hope for online casino fans. Since the gambling landscape in South Africa is constantly changing, there’s a chance for other forms of online gambling to be legalized soon. This is especially true given the rising interest in the activity.

The licensing situation in the country is just as complicated. After the National Gambling Act of 1996 was introduced, South Africa created a National Gambling Board and nine additional Provincial Gambling and Racing Boards. These exist to govern, regulate, and issue licenses within their jurisdictions. It’s worth noting that players can and will be persecuted if they play on unlicensed sites. The control boards take their job seriously for both player protection and punishment.

Further Reading

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