BETTING KENYA Sportspesa and Betin close shop in Kenya 4 years ago Iwo Bulski Post Views: 1,112 With the new tax imposed on the betting company of 20%, this has seen some betting companies to call a standoff and close there outlets in protest of this tax. The closure of these shops and outlets will see majority of employees who had been working in such firms { spotspesa and betin} in outcry country wide since this has been their source of income in trying to meet there basic needs. Over 2500 who depend directly will be out of jobs in coming days Straining of government revenue. And in terms of government revenue this will lead to a decline in revenue hence straining the economic progress of the country if something legal is not done immediately. Finally {Betin and Sportspesa} betting firms have finally thrown a towel, these firms have finally halted their operations and are set to send thousands of their workers home after prolonged tax standoff with Kenyan government. To a shocking news the betting company which had been making indications of resuming work again is now disappointed by the Kenyan government decision of and imposed tax here talking of 20% tax excise on all betting companies. Tax will affect total winnings of customers Looking at the effects of this tax to the customer is that it will withhold a tax on each winning the economic incentive to place bets will be completely removed as this tax will deprive customers of their total winnings as said by the firm. Reduction in sports in Kenya as a result of 20% tax excise And to add on this will have severe consequences on licensed betting companies which dutifully pay their taxes and will lead to decline in government tax revenue to near zero and will halt all investments in sports in Kenya. Source: citizentv.co.ke 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: close shops, Kenya, SportPesa Continue Reading Previous Uganda – big day of gamblingNext Uganda – Fortebet opens new branches and gives Techno F1 phones More Stories BETTING KENYA Odibets To Reward Customers With 100 ‘Mbuzis’ For Christmas 1 day ago Samuel BETTING GHANA Bangbet is now available on Google Play Ghana! 1 day ago Szarlot BETTING KENYA Sportspesa risks losing license if found guilty of disobeying court order 4 days ago Szarlot EXPERTS KENYA Gamblers stake Sh620 billion in four years as betting craze rises 4 days ago Samuel BETTING KENYA Gamblers stake Sh620 billion in four years as betting craze rises 5 days ago Szarlot BETTING NIGERIA Nigerian Bookmakers Strengthen Partnership with Gamble Alert 5 days ago Samuel BETTING NIGERIA The Dark Side of Virtual Betting 6 days ago Szarlot BETTING Growing Popularity of Horse Racing 6 days ago Szarlot BETTING NIGERIA How to Watch the African Cup of Nations? 6 days ago Samuel BETTING NIGERIA The innovative Melbetapk.com betting app 1 week ago Szarlot BETTING ONLINE The Interplay of Fantasy Sports and Sports Betting 1 week ago Szarlot BETTING Turn Your Football Passion Into Lucrative Bets and Win Big! 1 week ago Szarlot 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.