BETTING KENYA Betting Firm SportPesa Mulling Kenya Comeback? 2 years ago Iwo Bulski Post Views: 639 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 Gambling operators ignore orders to close during the election 2 days ago Iwo Bulski BETTING GHANA Ghana: Gaming Commission Must Regulate Industry 3 days ago Szarlot BETTING KENYA Kenyans spend over KSh 300b on bets, cigarettes and liquor yearly 3 days ago Szarlot BETTING NIGERIA All About Cricket Betting 4 days ago Iwo Bulski EXPERTS KENYA Poor tax policy erodes Kenya’s investor attractiveness – survey 4 days ago Szarlot BETTING KENYA Kenyan government orders all operators to close for election day 4 days ago Iwo Bulski BETTING KENYA The government should work with the betting industry 2 weeks ago Iwo Bulski KENYA ONLINE The influencers paid to push hashtags 2 weeks ago Iwo Bulski BETTING KENYA Eighteen new firms enter booming betting arena 2 weeks ago Iwo Bulski EXPERTS KENYA Kenya launches AML probe focusing on betting operations 2 weeks ago Iwo Bulski EXPERTS KENYA Digital scams have hit Kenya’s gambling and travel industry 2 weeks ago Samuel BETTING KENYA Tanzania joins Kenya, Uganda tax squeeze on gamblers’ winnings 2 weeks ago Iwo Bulski 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.