BETTING KENYA After leaving Kenya, Sportpesa remains in 5 markets 3 years ago Iwo Bulski Post Views: 744 The United Kingdom, Italy, South Africa, Tanzania and the Isle of Man are the five remaining markets betting company SportPesa is left with after it announced Saturday that it has ceased operations in Kenya, its biggest market of the six that it had. According to SportPesa’s website, it describes Kenya as the “spiritual home of the company”. “Kenya remains the spiritual home of SportPesa. With a number of sponsorship deals and frequent community development programmes, we think we’ve earned our title of the most popular gaming company in Kenya,” – says SportPesa on its website in a yet-to-be-updated category. The company says its European market is headquartered in Liverpool, the United Kingdom. “Having established strong partnerships with some of the biggest football clubs in the UK, we are proud to have our new European head office in the stunning Royal Liver building in Liverpool,” Besides the UK, the firm has markets in other European territories, including Italy and the Isle of Man, which is a self-governing British Crown dependency in the Irish Sea between England and Ireland. “As proud sponsors of Torino F.C. SportPesa is excited to add Italy to its portfolio of operations, and we look forward to extending our product offering and first-class service to Italian customers,” In Africa, the firm has markets in Tanzania and South Africa, besides Kenya, which it has since suspended its operations in. “From our office in beautiful Cape Town, SportPesa has recently secured a landmark four-year deal with the city’s leading football team, Cape Town City FC, SportPesa sponsor three of Tanzania’s most popular and successful football teams, including 26-time Tanzania league champions, Yanga SC,” – inform company On Saturday, September 28, SportPesa announced it was stopping operations in Kenya until the “hostile business environment” in the country improves. In a statement to newsrooms, SportPesa said the 20 per cent withholding tax charged on overall winnings has made it impossible for the firm to make money from the business. “The tax is based on a fundamental misunderstanding by the Rotich-led Treasury of how revenue generation works in the bookmaker industry. This decision will have a damaging impact on both customers and Treasury,” Further compounded by the currently in-effect 20% witholding tax on winnings, the economic incentive to place bets will be completely removed as the taxes will deprive consumers of their total winnings. This will have severe consequences for the licensed betting companies, which dutifully pay their taxes and ultimately will lead to a decline in government tax revenue to near zero and will halt all investments in sports in Kenya, – added SportPesa. “Until such time that adequate taxation and non-hostile regulatory environment is returned, the SportPesa brand will halt operations in Kenya.” Another betting giant, Betin, announced that it had laid off all its staff in Kenya, citing unprofitable business environment in Kenya. SportPesa, whose operating license was not renewed by July 1, said on September 3 that its meetings with several regulators in Kenya, including the KRA and the Betting Control and Licensing Board, yielded a result they desired. “There has been notable progress in these sessions, and we are pleased that Kenya Revenue Authority have now cleared us to have our license renewed. SportPesa is confident that these processes will be completed soon, allowing the company to resume full operations, … we will be communicating soon on when we will be commencing operations” – said SportPesa in a press statement released on September 3. SportPesa, which alongside Betin and Betway controls 85 per cent of the Kenyan betting market, allegedly owed KRA Ksh14.9 billion in unpaid taxes. SportPesa CEO, Captain Ronald Karauri, in a past media interview said the company has directly employed 400 people in Kenya. The fate of the betting firm’s staff now hangs in the balance, as the company is yet to announce what it would do with its workers. Source: k24tv.co.ke About Post Author Iwo Bulski Issues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. See author's posts Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: gamblers in Kenya, Kenya, SportPesa Continue Reading Previous Kenya – Betin sacks all its staffNext Kenya – SportPesa halting operations due to a drastic hike in taxes More Stories BETTING TANZANIA Betting firm employs 142 Tanzanian youths 1 hour ago Szarlot BETTING SOUTH AFRICA Betfred SA denies it owes Joburg City Power over R3m in unpaid lights bill 1 hour ago Szarlot BETTING TANZANIA Parimatch Tech becomes GR8 Tech 1 hour ago Samuel BETTING GHANA Why Ghana Must Widen the Distance Between Sports Betting and Education Centres 3 days ago Szarlot BETTING WORLD NEWS 1xBet Statement: Curaçao License is Valid and Fully Operational 3 days ago Iwo Bulski BETTING GHANA How to bet on sports responsibly? 3 days ago Szarlot EXPERTS KENYA BetEngines launches the first Sportsbook software solution tailor-made for the African market. 4 days ago Adeleye Awakan BETTING UGANDA Up To 20 Arsenal Fans Arrested Over Trophy Parade In Uganda 4 days ago Samuel BETTING NIGERIA 13 players win over N160m via BetKing’s ACCA 4 days ago Szarlot EXPERTS KENYA Ronald Karauri’s Inspiring Journey from Pilot to SportPesa Billionaire 4 days ago Szarlot KENYA ONLINE The Rise of Crypto Casinos in Kenya 4 days ago Samuel EXPERTS KENYA Betting firms rush to comply with new tax regulations 5 days ago Samuel Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.