BETTING KENYA Kenya – SportPesa halting operations due to a drastic hike in taxes 3 years ago Iwo Bulski Post Views: 424 Online sports betting companies such as SportPesa have grown rapidly in the East African nation in recent years, riding a wave of enthusiasm for sports, with the government saying the gaming industry achieved a combined revenue of 204 billion shillings ($2 billion) last year. That sparked government concern about the social impact of betting, and in May Kenya introduced new gambling regulations, including a ban on advertising outdoors and on social media. This week, parliament voted an amended proposal raising the excise duty proposed in the 2019/20 (July-June) budget on the amount wagered at the time a bet is placed on all betting platforms to 20% from an initial 10%. SportPesa said it was “disappointed” by the move and that it would stop its operations until a “non-hostile regulatory environment” returned. Newspapers Daily Nation and Standard reported that a second firm, Betin Kenya, had also ended its operations, citing the heavy taxation as the main reason. The company could not be immediately reached for comment. Source: Reuters 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 betting Continue Reading Previous After leaving Kenya, Sportpesa remains in 5 marketsNext The future of betting in Kenya 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.