FEATURED STORY

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 *

Follow Us

Related Articles
Affordable Housing Project
FEATURED STORY

Govt Puts Up For Sale 4,888 Affordable Housing Units: Here’s The Full List And How To Buy

The government has put up for sale 4,888 affordable housing units across...

Geraldine Sande, Channel Sales Leader for Schneider Electric East Africa
FEATURED STORY

How Working With ‘Glocal’ Original Equipment Manufacturers Can Empower East Africa’s Channel Partners For Success

Channel partners in East Africa, including resellers, distributors, system integrators and panel...

Treasury CS John Mbadi
FEATURED STORY

Understanding Tax Amendment Bills: How The New Laws Will Affect Kenyans

The government has announced several amendments to the existing tax laws to...

Prime Cabinet Secretary and Cabinet Secretary for Foreign & Diaspora Affairs
FEATURED STORY

Inside Kenya’s 60 Years of Diplomatic Journey

Kenya is set to commemorate 60 years of diplomacy this week starting...