The Sun International hotel and casino group acquired Powerbet Gaming, owner and operator of Voltbet.com with has now been rebranded and launched as Sunbet.
According to Sun International executive Michael Farr, Sunbet will target the South African market and acts as a foot in the door to the online gaming world.
"The sports betting industry is in its infancy and offers high growth potential," Farr said. "It seems likely that, in time, online gaming will be legalised in South Africa and we believe this business will position us well for when this happens, both in terms of track record and in understanding our guests' online preferences."
Aside from sports betting, online gambling has not yet been legalized in South Africa.
"Many South Africans would like to bet on their favourite teams or individuals, but don't necessarily gamble in [land] casinos. Sunbet gives them the platform to do just that," said Farr.
A local news publication did an article on the rise of sports betting within the country noting an increase of 71.3 percent in 2012.
South Africa is now home to over 400 betting shops and over 300 sports books. Industry experts predict that sports betting will surpass horse racing in popularity over the next 5 years.
"We will give customers the option to bet in current pop culture, betting on odds like 'Who will win the 2013 Pop Idols?' or 'What colour dress will Charlize wear to the Oscars?'" Farr said.
Sunbet will offer odds on rugby, cricket, soccer, tennis and US sports with horse racing in the works.
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