FEATURED ARTICLE

Minimum Betting Stake to Rise in Far-Reaching Recommendations

Share
A betting platform displayed on a mobile phone.
A betting platform displayed on a mobile phone.
Share

Penalties including fines for gamblers who place bets with stakes of less than Ksh100 could be implemented if Parliament accepts a proposal before the house.

In 2019, Parliament had proposed a minimum stake of Ksh50 in a bid to tame gambling addiction among the youth.

The CS Fred Matiang’i-led Interior Ministry, however, submitted to the National Assembly’s Sports, Culture and Tourism committee that the proposed minimum stake be doubled.

The committee, chaired by Mavoko MP Patrick Makau, agreed to the submission which if approved by lawmakers will have major ramifications on the industry.

The proposals include a fine of Ksh5 million for placing a bet using less than Ksh100. Numerous betting platforms allow users to bet with as little as Ksh1.

Dr Fred Matiangi crack down on betting companies www.businesstoday.co.ke
Interior Cabinet Secretary Dr Fred Matiang’i has led the onslaught against betting companies in Kenya. [ Photo / Business Today ]

“Amend by deleting the word ‘fifty’ and substitute thereof with the words ‘one hundred’ to promote responsible gaming and to prevent addictive gaming,” the committee noted in its report on the Gaming Bill, 2019.

READ>>>>>How Mobile Phones Have Helped the African Betting Market Grow

Matiangi’s Interior Ministry has been at the forefront of the government campaign against gambling addiction in the country.

According to a recent report by Geopoll, Kenya has the highest rate of youth actively engaged in betting at 76%.

Several online platforms have aggressively marketed features allowing customers to bet with small amounts ranging from Ksh1 to Ksh 49.

Major players in the industry including Sportpesa and Betin had capped minimum stake at Ksh50.

Proponents of increasing the minimum stake argue that the move will discourage youth from staking their hard-earned money.

It remains to be seen, however, whether Parliament will adopt the committee report.

READ>>>>>Odibets Launches Free Browsing on its Betting Platform

Written by
MARTIN SIELE

Martin K.N Siele is the Content Lead at Business Today. He is also a Quartz contributor and a 2021 Baraza Media Lab-Fringe Graph Data Storytelling Fellow. Passionate about digital media, sports and entertainment, Siele also founded Loud.co.ke

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PAST ARTICLES AND INSIGHTS

Related Articles
TotalEnergies Marketing Kenya outlet
BUSINESSSTOCKS

TotalEnergies Marketing Kenya Plc 2026 HY Net Profit Up 21.3% to KSh1.3Billion

TotalEnergies Marketing Kenya Half-Year net profit rose 21.3% to KSh 1.3 billion...

Satrix MSCI World Feeder Exchange Traded Fund: The NSE will now have three such funds
BUSINESS

SATRIX MSCI World Feeder ETF Net Assets Rise 16.5% to KSh 196.7 billion

Satrix MSCI World Feeder ETF, Kenya’s first global equity Exchange Traded Fund...

Ziidi allows Investors to invest in fixed income market
BUSINESS

Ziidi Money Market Fund Balance Sheet Size Grows 90.2% to KSh 20.3 Billion

Ziidi Money Market Fund (MMF), managed by Standard Investment Bank and ALA...

CBK seeks KSh 60 billion in September for Budget Support
BUSINESS

CBK Seeks KSh60Bn for Budgetary Support in September Treasury Bonds Sale

CBK (Central Bank of Kenya) has published a prospectus inviting bidders to...