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Kenya's punters face seismic changes as Cabinet approves bills, mandating savings with bets and reshaping the gambling and lottery arena.
The Cabinet has given its seal of approval to two pivotal bills designed to revolutionize the gambling and lottery sector: the Gambling Control Bill, and the National Lottery Bill, of 2023.
These legislative endeavors are anticipated to usher in substantial transformations within the industry, and they are now poised for further scrutiny and potential enactment as they journey through Parliament.
"In addressing the growing vice of irresponsible gambling and betting (gambling culture), and the socio-economic challenges that result from the menace, the nation's top policy organ considered and approved the Gambling Policy, 2023; the Gambling Control Bill, 2023; and the National Lottery Bill, 2023," reads an official statement from the Cabinet.
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The cornerstone of this reform, the Gambling Policy (2023), aspires to reshape gambling into a force for social progress while fostering responsible gaming.
The legislation meticulously defines online gambling as any form of communication conducted through remote means, with provisions for operators to be licensed as online bookmakers, online lotteries, or online casinos.
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Cabinet sources reveal that the bills are a proactive response to the surge in irresponsible gambling practices, aiming to mitigate their adverse social and economic impacts. These legislative strides are deemed crucial in aligning the industry with a more responsible and socially conscious framework.
The proposed legislation is especially geared towards the vast number of Kenyans engaging in betting activities annually.
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A notable feature of the new Bill is a proposal to compel punters to save a portion of their earnings with every bet placed, serving as an innovative approach to encourage savings within the informal sector. This move is in tandem with the administration's broader strategy to bolster financial prudence and security for citizens.
These changes, however, come with additional financial implications for gamblers. Currently, wagered amounts attract a 7.5 percent tax, while winnings are subject to a withholding tax rate of 20 percent. The proposed legislation seeks to further augment these deductions by introducing mandatory savings with each bet, adding a unique financial dimension to the gambling experience.
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Remarkably, the new proposals maintain the existing gambling tax, currently known as the betting tax, at 15 percent of the revenue generated by betting and gambling firms. This signifies a delicate balance between promoting financial responsibility among punters and ensuring the continued financial viability of the gambling industry.
The fate of these bills now rests in the hands of Parliament, where further deliberations will unfold. The envisaged changes, if successfully enacted, will mark a watershed moment in Kenya's approach to gambling and lottery regulation, fostering a more socially responsible and financially astute gaming landscape.
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