BETTING KENYA Betting Firm SportPesa Mulling Kenya Comeback? 4 years ago Iwo Bulski Post Views: 789 SportPesa might be gearing up preparations to return to Kenya, according to recent reports by several local news outlets based on the latest activity on the online sports betting operator’s website. The online betting house closed shop in Kenya, one of its biggest, if not the biggest, markets, in the fall of 2019 after a prolonged legal battle stemming from a new gambling taxation regime introduced by the Kenyan government. SportPesa was one of several major bookmakers to exit Kenya following the introduction of the new tax rules, which burdened locally licensed gambling companies and their customers with taxes that these same companies considered too steep to operate a viable business in the East African country. Under Kenya’s new tax regime, betting companies are required to pay a 20% excise tax on all betting stakes, which SportPesa believes could have a detrimental impact on its business as well as on customers and treasury contributions. Online gambling (and gambling, in general) has become a booming industry in Kenya in recent years, with young, tech-savvy male gamblers being the demographic group driving the rapid and continued growth of the sector. As mentioned earlier, despite the popularity of their products in Kenya, the introduction of the new tax rules prompted SportPesa and several of its Kenya-facing counterparts to shut their websites to local gamblers. Several Kenyan media outlets reported in recent days that latest activity on SportPesa’s website suggested that the betting firm could be entertaining the possibility to return to the local market. After the operator announced its departure from Kenya, its website could not be accessed by Kenyan bettors. However, news outlets report that the website can now be accessed from within Kenya, but local visitors still cannot deposit funds and place bets. The company says in a message to Kenyan customers accessing its website that: Due to regulatory restrictions, we are currently unable to accept deposits from customers in your jurisdiction. We are working on resolving this promptly and will be in touch with you as soon as possible. Reports about SportPesa’s possible return to Kenya emerge about two months after the company’s CEO, Ronald Karauri, said that they were keen to resume operations in the country amid dwindling finances. At the time, the gambling operator maintained that the new tax was: “based on a fundamental misunderstanding […] of how revenue generation works in the bookmaker industry” and that those new rules would “have a damaging impact on both customers and treasury.” In the months after its exit from Kenya, SportPesa focused on its expansion elsewhere in Africa, particularly in Tanzania, and across Europe. Source: casinonewsdaily.com 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: Kenya, SportPesa, sports beting Continue Reading Previous Huge numbers of bettors and partnership to emerge post-coronavirus eraNext African operator Allbet goes online with BtoBet More Stories BETTING KENYA Sportspesa risks losing license if found guilty of disobeying court order 2 hours ago Szarlot EXPERTS KENYA Gamblers stake Sh620 billion in four years as betting craze rises 2 hours ago Samuel BETTING KENYA Gamblers stake Sh620 billion in four years as betting craze rises 23 hours ago Szarlot BETTING NIGERIA Nigerian Bookmakers Strengthen Partnership with Gamble Alert 23 hours ago Samuel BETTING NIGERIA The Dark Side of Virtual Betting 2 days ago Szarlot BETTING Growing Popularity of Horse Racing 2 days ago Szarlot BETTING NIGERIA How to Watch the African Cup of Nations? 2 days ago Samuel BETTING NIGERIA The innovative Melbetapk.com betting app 3 days ago Szarlot BETTING ONLINE The Interplay of Fantasy Sports and Sports Betting 4 days ago Szarlot BETTING Turn Your Football Passion Into Lucrative Bets and Win Big! 4 days ago Szarlot BETTING Movies About Sports Betting 4 days ago Samuel EXPERTS KENYA President Ruto unveils plan to privatise 35 state companies in Kenya 1 week 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.