Gamblers’ Average Spend Hits Ksh 1,825- Finaccess Survey

The perception of gambling as a potential income source is growing among younger, urban, and educated individuals, results of the 2024 Finaccess Household Survey show.

• The study sought to find out the average amount spent on gambling across different demographics in 2024.
• Overall respondents spent Ksh1,825 on betting.
• The highest perception is observed in the 18-25 age group at 13.4 percent, followed by 26-35 age group at 12.7 percent, according to the Survey.

“Among these, urban respondents showed a slightly higher perception at 11.9 percent compared to rural respondents at 10.1 percent. Males had a higher perception (13.7 percent) compared to females (8.2 percent),” – survey noted.

Urban residents spent an average of Ksh2,125 on gambling, significantly higher than rural residents, who spent Ksh1,481. In addition, Males spent more on average (Ksh1,876) compared to females (Ksh1,623).

“These findings, combined with earlier findings showing a high perception of gambling as a potential income source among younger people, suggest that younger, urban, and educated individuals are more likely to invest in gambling, possibly due to optimism or a perceived income opportunity.”

Gaming companies have continued to leverage mobile phones and mobile money to reach a broader audience through gambling, particularly sports betting. In the 2024 Survey, 11.2 percent of respondents reported being actively involved in betting.

The Finaccess Survey indicates that the financial inclusion landscape was impacted by the various reforms instituted in the last three years and especially the regulatory environment governing digital credit providers.

“The usage and quality of financial services and products continue to deepen, on account of increased adoption of technology and innovations, use of a portfolio of products and services; government policies, and private sector strategies.”

Source:kenyanwallstreet.com

About Post Author

Samuel

I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos.

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Samuel

I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos.