Despite stringent regulatory measures and heavy taxes, Kenyans bettors have placed a staggering Sh88.5 billion in online bets over the past year, until June 2023.
This impressive figure comes in the face of a crackdown on the sector and the introduction of punitive taxes.
In a remarkable financial windfall, the Kenya Revenue Authority (KRA) collected Sh6.64 billion solely from excise taxes, a sum paid by gaming firms as part of the new 7.5 percent tax on wagered amounts.
This astonishing statistic reveals that Kenyans were placing Sh242 million daily in bets, translating to Sh10.1 million per hour, Sh168,333 every minute, or Sh2,806 every second.
This surge in gambling activity showcases how betting has evolved from mere pastime to a significant economic activity.
This year’s betting frenzy has demonstrated an economic resilience that defied previous crackdowns on gaming firms and persistent taxation.
Despite facing these challenges, the industry has resurged, attracting devoted enthusiasts, following the implementation of a 7.5 percent tax on wagered amounts in the previous year.
However, this surge in betting activity has not been without its consequences.
Health experts have raised concerns about the growing addiction to gambling, likening excessive gambling to a defined mental disorder known as ludomania or problematic gambling.
Silas Kiriinya, a consultant psychologist and CEO of Amazon Counselling Centre, has pointed out the transformation of gambling behavior from a source of entertainment to a compulsive habit with significant risks.
This boom in the gambling industry has not only provided financial gains but has also brought to light the need for responsible gambling practices and support for those struggling with addiction.
As the industry continues to grow, the government’s role in ensuring the well-being of its citizens is becoming increasingly crucial.
