Kenya Government Considers sh20 Minimum Bet Amount
Gamblers will be limited to stake amounts of at least Sh20 in a new plan designed to reduce the popularity of betting among Kenyans. Minimum Bet Kenya sh20
The minimum stake for online gaming and those utilizing gambling machines has been proposed by the Betting Control and Licensing Board (BCLB).
The current low minimum bet of Sh1 has made gambling affordable and fueled a significant increase in the number of young and vulnerable people playing in the hopes of winning millions in prizes.
A player in an online gambling activity shall not bet an amount of less than twenty shillings in a competition.
The minimum amount set above shall be inclusive of such a saving component for the player as shall be determined by the Authority in consultation with the Cabinet Secretary.
Gambling Control Bill, 2023.
If betting companies or gaming machine operators disobey this requirement, they will be fined Sh5 million or sent to jail for a maximum of six years.
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To make gambling more prohibitively expensive for the unemployed and young people, a few companies, like Betika and Milestone Gaming (doing business as SportPesa), have set the minimum wager amount at Sh50.
Over time, gambling evolved from a pleasure to a source of income for Kenyans trying to cover their daily expenses.
According to a poll by the Central Bank of Kenya, 11.2 percent of respondents believed that betting was a source of income in 2021, compared to 13.9 percent of respondents who reported actually betting.
Despite the government’s warnings, the poll revealed that the average amount spent each week on gambling was Sh939 and more Kenyans were turning to mobile loans to support their gambling habit.
Kenyan youth outperformed their rivals on the continent when it came to betting, according to a 2021 study that was conducted across Africa. More than 80% of respondents there said they engaged in betting.
As more young people turn to gaming in an effort to get fast money, experts believe that the rise in gambling addiction is being fueled by the high unemployment rate.
The trend has also resulted in the opening of betting shops where a large number of Kenyans go to place bets on live sporting events, usually on the weekends.
The BCLB’s quest for minimal betting stakes is the newest tool the State has at its disposal as the gambling obsession continues to develop relentlessly and resists heavy taxation on players and gaming companies. Minimum Bet Kenya sh20
