BETTING KENYA Sports Betting in Kenya 4 years ago Peris Wambu Post Views: 1,090 Do you know what legalization of online casinos is doing to the countries in Africa? Kenya is an East African country taking bold steps to add legal gambling to its basket of economic ventures. Discover how online casinos in Kenya have affected the country’s earnings slowly revolutionizing Kenya’s entire economy. Generally, Kenyans have been engaging in online betting for a while. However, recent times saw the government of Kenya institute measures that knocked the online casino industry into shape in a move to make legal gambling a viable economic activity. The July 6 betting report indicated that at least 5 million Kenyans had been betting prior to the recent regulations put in place by the Betting Control and Licensing Board of Kenya. With a growing number of online operators joining the country’s gambling landscape, this number has since then increased tremendously. How Legal Gambling is Turning Kenya’s Wheels of Economy As one of the many African countries on the forefront of legalized gambling, Kenya’s betting industry has grown tremendously to become a great force in the countries blossoming economy. Recent years have seen this East African country expand its gambling landscape allowing licensed operators to tap into its enthusiastic community of gamblers. With a population of over forty five million folks and a flourishing economy, Kenya needs no other incentive to draw in foreign investment. The country’s casino industry has become a huge plus to its growing economy, opening it to great prospects of a glowing future. The advancement in technology has further propelled Kenya to its great economic times. With the advent of online gaming platforms, interested punters can now easily access casino services right from the cozy comfort of their residences. Online casinos today enjoy growing popularity with more and more companies venturing into the Kenyan market. And thanks to the recent regulations, bettors in Kenya do not have to solely rely on the offshore websites for their gambling needs. This has not only cushioned layers from a cloud of uncertainty around legality, safety and security of these foreign platforms but also allowed for the domestication of gambling as a viable business opportunity for Kenyan investors. Kenya now stands on the brink of one of the most lucrative phase of their thriving economy. A Win for Kenyan Folks As the online industry blossoms, some of the direct beneficiaries are fortunate Kenyans who hit jackpots playing online games, not to mention a huge number of Kenyan job seekers who continue to secure employment with every launch of a gaming platform. Online casinos like Betway and Online Sports Betting Kenya have over time rewarded many lucky winners in Kenya with life changing prizes. One case of such mouthwatering win is that of Yannick Mahrez who lays from the country’s capital. A Win for the Kenyan Government Seeing how lucrative the gambling industry had become, the Kenyan government made a smart move stepping up its regulations on online casinos through the Betting and Licensing Board of Kenya. The result was both a secure environment for gamblers and a streamlined source of revenue. The Kenyan authorities today net millions of dollars from the casino industry in tax and revenue. In fact, as a move to deter the underlying problem of addictive gambling, recent regulations led to the gambling tax rates soaring, heralding a time of booming revenues. 2017, for instance, witnessed spiking tax rates on the gambling business to a tune of 35%, leaving most the operators in the industry frustrated. Sports pesa, one of the earliest gambling platforms still feels this tax man pinch to date. As for jackpot winners, these individuals also have to meet a tax obligation of at least 20%. It doesn’t stop at taxation. In terms of foreign investment, Kenya has also benefitted from a stream of international betting companies like Betway Online, a subsidiary of the UK based Betway. This among other online casino operators have made insanely great contributions to the Kenya’s economy. Good or Bad? Without ignoring the evident negatives like addiction problems, illegal gambling, and the somewhat intimidating tax levels by Kenyan regulators, the gambling business in Kenya has undoubtedly paid off. It’s no wonder other nations in the country’s neighborhood continue to embrace legal gambling by instating systems that enable gamblers to access a whole range of betting services within a highly protected environment. As more online businesses launch in Kenya, this is expected to entice more foreign investors into the country. This means nothing less than job opportunities for thousands of Kenyans and extra sources of revenue for the Kenyan government. Parting Note Kenya’s Betting, Lotteries and Gaming Act of 66 does not categorically mention online gambling. The law only applies within the country’s territory hence there are no specific restrictions that prohibit Kenyans from legally gambling online. Betting companies operating on an international scale accommodate majority of Kenyans seeking to be art the larger gambling community through a wide range of gambling services. About Post Author Peris Wambu “Hey, Peris here! I am enthusiastic about sports and gaming in general and a massive Liverpool fan. Every piece of writing you receive is brought to you by the power of countless cups of coffee!” See author's posts Peris Wambu“Hey, Peris here! I am enthusiastic about sports and gaming in general and a massive Liverpool fan. Every piece of writing you receive is brought to you by the power of countless cups of coffee!” Facebook Twitter LinkedIn Email Print Tags: gambling platforms, Kenya, sports betting Continue Reading Previous Refer-a-Friend to BetwayNext A Beginner’s Guide to Betting on Horse Racing in South Africa More Stories BETTING NIGERIA The Rising Contribution of Online Betting to Nigeria’s GDP 2 days ago Samuel KENYA ONLINE Kenya To Introduce Cryptocurrency Regulation 2 days ago Samuel BETTING UGANDA African Football Betting’s Prospects for the Future 3 days ago Szarlot BETTING KENYA Understanding Kenya’s Sports Betting Boom 3 days ago Samuel BETTING KENYA Magical Kenya Open Tips 2024 4 days ago Szarlot BETTING ZAMBIA Jai Chilufya: «My hand is stronger than ever before» 4 days ago Tools BETTING TANZANIA Tanzania and the growth of the sports betting market 5 days ago Samuel BETTING NIGERIA Navigating Regulatory Challenges and Seizing Opportunities in African Sports Betting 6 days ago Tools BETTING HOT NEWS KENYA Sports betting comes to X (Twitter), but not yet live in Kenya 6 days ago Samuel BETTING NIGERIA Stakers reject Reps’ move to stop sports betting 6 days ago Szarlot BETTING NIGERIA Bet Naija attendant, friend arraigned for allegedly stealing N16.7m 2 weeks ago Szarlot BETTING GHANA Soccabet And The Ghanaian Youth 2 weeks ago Szarlot Leave a Reply Cancel replyYour email address will not be published. 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