BETTING TANZANIA Sportsbook operators call for tax waver 3 weeks ago Adeleye Awakan Post Views: 165 The Sportsbook operators in Tanzania, often called (TSBA) Tanzania Sports Betting Association is asking the government for tax waver due to the impact covid-19 pandemic as had on the sports betting industry in the country. That has seen all significant sports league suspended across the globe. These have had a substantial effect on the sports betting brands in majorly African countries, severely that have seen a drop in sales drastically across the region. However, the Chairman of the (TSBA) Jimmy Kenneth Masaoe quoted said on behalf of the association we have written the government calling for help because we are all feeling the effect of Covid-19 pandemic. It is a situation for us the sports betting companies in Tanzania to seek full government assistance. Due to shortage, in the circulation of money unlike when regular sports football leagues are played in Europe, so we are looking at ways to dialogue with the government to reduce some taxes so we can at least cover our cost. While there is a possibility that many will go bankrupt thus, according to local reports in Tanzania, sports betting contributed 3.5% of the country GDP Gross Domestic Product in 2019. However, currently, the country boost over 2,600 betting shops with over 22 licensed sportsbook operators in the country most which are located in the Der ser Salem. Gambling Laws and Tax Tanzania However, Tanzania has the reputation of being a pioneer in the field of gambling on the African continent. The Investment Promotion and Protection Act of 1992 and the Tanzania Investment Act of 1997 marked the beginning of legal gambling in the country as they stimulated leisure and tourism-related investment in the country, and along came gambling as well. The government decided that it needed to regulate this sector more effectively. 1n 2003, with the enactment of Gaming Act of Tanzania the country established legal body, the Gaming Board of Tanzania to oversee the gambling industry, issue licenses to operators and collect taxes from gambling premises. In contrast, the board tax all licensed operators in the tune of 25% of their GGR (Gross Gaming Revenue). In comparison, 20% tax applies on the bettor’s net winnings, which was initially 18% in 2015/16 as amended in section 31A of the Gaming Act Cap 41. Adeleye AwakanAuthor E-play Africa, sports betting reviews, thoughtful leardership articles in Africa gambling industry, marketing gaming platforms in Africa with strong networking relationship with gaming operators in Africa, Expertise in PR, marketing communication, and consultant on gaming in Africa. Facebook Twitter LinkedIn Email Print Tags: gambling law, Tanzania, tax Continue Reading Previous Gambling companies in Africa suffer heavy losses from COVID-19Next Betinvest partners with Sportradar to provide content solutions More Stories BETTING eSports is the future of online betting 14 hours ago Iwo Bulski BETTING SOUTH AFRICA What is the future of Africa’s online sports betting? 4 days ago Iwo Bulski BETTING PROMOTION Betway – New Customer Bonus Offer – Option 1 5 days ago Piotr Kostecki BETTING NAMIBIA Namibia – Hospitality, tourism sector can now open 5 days ago Iwo Bulski BETTING WORLD NEWS Betway set to sponsor Sevilla FC 6 days ago Iwo Bulski ANGOLA BETTING Angola authorizes betting and online gambling with licenses for 10 years 6 days 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. This site uses Akismet to reduce spam. Learn how your comment data is processed.