BETTING KENYA Kenya – following Uganda in banning football betting 4 years ago Iwo Bulski Post Views: 767 Kenya gives notice to betting companies to comply with tax regulations or face closure. The government of Kenya has declared war on betting companies due to its adverse affects on the youth and high spending by patrons. Kenya’s Interior Minister Dr. Fred Matiang’i, said that the government will be turning the betting industry inside out. He called for changes in the Betting and Licensing regulations. According to the reports by the local media house NTV. The minister ordered the Betting Control and Licensing Board to oversee that betting firms are in compliance with the taxes to avoid obstruction, reports Kenya’s Standard Media Group. “To show that we are serious, all betting licenses in the country stand suspended effective July 1, 2019 unless the holders pay all their taxes,” – said Dr. Fred Matiang’i. Kenya recorded the highest number of youth betting with at least 76 percent of them involved in betting following a recent GeoPoll survey) carried out among youth between the ages of 17-35 in Uganda, Tanzania, Ghana, Nigeria, South Africa and Kenya. The survey further shows that Kenyans spend the highest amount of money in gambling and the highest frequency compared to other African countries. Whilst other countries bet mostly once a month, a majority of Kenyans bet once a week spending about $50 per month mostly on football bets. Youth elsewhere spend less than $50 a month. What of Uganda? Kenya’s order comes months after the President of Uganda banned betting companies in the country citing the bad effect betting is having on the youth. State Minister of Finance David Bahati, was quoted by the privately-run Daily Monitor portal as confirming that no new licenses will be issued for the betting companies and that old licenses will not be renewed upon expiration. Source: Euronews 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: betting comapnies, Fred Matiang'i, Kenya Continue Reading Previous Kenia – Future of 19 betting firms now depends on security vettingNext Kenyans given 48 hours to cash out of betting firms More Stories BETTING HOT NEWS NIGERIA Nigeria’s appetite for fintech solutions increase for technological evolution 6 hours ago Samuel EXPERTS KENYA Tools Kenyan players can use instead of GamStop for responsible gambling 6 hours ago Szarlot BETTING KENYA Beez FC Wins 13th Edition Of KOT 5 Aside Tournament 6 hours ago Samuel EXPERTS KENYA Digital wallets as an enabler for financial services in Africa 3 days ago Szarlot BETTING KENYA Betting firms tax remittance hit Ksh 15B in FY2022/23 3 days ago Szarlot EXPERTS KENYA Unlocking the power of mobile trading: A financial revolution in Kenya 4 days ago Samuel BETTING GHANA Why ‘Sewing Machine’ is trending in the world of sports betting 4 days ago Samuel BETTING NIGERIA The growing trend of mobile betting in Nigeria 5 days ago Samuel BETTING NIGERIA Innovations in responsible gambling: Betbonanza’s initiatives for safer betting 5 days ago Samuel BETTING ZAMBIA Amplifying Sports Betting with Music Ambassadors 6 days ago Szarlot BETTING UGANDA Uganda: Man Wins Shs 300,000 in Sports Betting, Dies Mysteriously 6 days ago Szarlot KENYA ONLINE Xprizo partners with African payments provider M-Pesa 6 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.