Like many African nations, Kenya is currently dealing with a boom in the online casino and sports betting market. The combination of the smartphone revolution and the country’s high level of unemployment make sports betting an interesting venture for many people. That’s especially true for people between 19 to 40 years, who make up the larger portion of the Kenyan population. However, the future of online sports betting in Kenya still hangs on the balance as the authorities have continued tormenting several leading operators in the country, though they’ve made it clear that they’re ready to collect cash from the industry.
The Kenyan Government on Online Betting
While betting in Kenya is still on its infancy stages, the government has made it clear that they are ready to make cash from the betting market. As a result, the government has been on a journey to regulate the betting industry and eliminating any operator that doesn’t cooperate. However, leading operators led by Betway have proven to be more skillful and determined to make it big in the country.
Last year, KRA (Kenya Revenue Authority) unveiled a new bill that left leading operator on the verge of closing business following a claim of $103 million in unsettled taxes. The bill stated that the taxes represented 20% of all winnings that the company should have withheld from the customers. Fortunately, some operators like the Betway online sports betting site were left standing.
The Future of the Kenyan Online Sports Betting Market
Due to the tussle that has continued between the Kenyan online betting operators and the government, there are serious issues concerning how operators can continue offering their services in the country. Massive taxes from the government have threatened the industry, as several politicians continue salivating over the proceeds from the market. It’s no wonder most of them support the establishment of a national lottery run by the government through the ongoing BBI campaign.
Despite the ongoing tussle, the good news is that major gaming operators have managed to remain operational in the country. Nonetheless, operators have started to advance in the neighbouring countries, getting ready for any policy changes that the government and politicians may push for. Even better, the Kenyan punters are ready to support trustworthy operators in the country to help support different sports and earn money to curb unemployment and poverty.
At the moment, operators like Betway are supporting the growth of grassroots sporting talent in the country, helping to create a more active nation. The emergence of several amateur and pro sports teams also helps to engage the Kenyan youth.
At the moment, there are over ten trustworthy betting companies in Kenya, with more expected to penetrate the market in a few years. Nonetheless, the government is set to regulate the industry to earn revenue and protect the interest of the punters and other investors. That means the future online betting market in Kenya is looking brighter than ever, despite the underlying issues.