Sharp Daily
No Result
View All Result
Saturday, July 19, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

New bill proposes KES 20 minimum bet cap for online gambling

Brian Murimi by Brian Murimi
September 13, 2023
in News
Reading Time: 2 mins read

The government has proposed a new bill that would set the minimum amount for online gambling at KES 20, an increase that could affect millions of Kenyans who engage in the popular activity.

The Draft Gambling Control Bill, 2023, which is open for public comment, aims to regulate the online gambling industry and protect players from addiction and exploitation.

According to the bill, the KES 20 minimum bet would include a saving component for the player, to be determined by the Gambling Regulatory Authority in consultation with the Cabinet Secretary.

Read more: Kenya’s Betting Industry Revenues Fall by Kshs 240 billion

RELATEDPOSTS

Kenya cracks down on betting ads to curb gambling surge

April 28, 2025

Betting board cracks down on speed dial use by internet browsers

February 19, 2024

“A player in an online gambling activity shall not bet an amount of less than twenty shillings in a competition. The minimum amount set under subsection (1) shall be inclusive of such saving component for the player as shall be determined by the Authority in consultation with the Cabinet Secretary,” the bill reads in part.

The bill also imposes a hefty penalty for operators who allow players to bet less than the prescribed amount. Such operators would face a fine of not less than KES 5 million or imprisonment for up to six years.

The bill comes as online gambling has become a booming business in Kenya, with Kenyans staking a record KES 88.5 billion through online bets in the year ending June 2023.

The online gambling craze has also boosted the Kenya Revenue Authority, which collected KES 6.64 billion in excise taxes alone from the new 7.5 percent tax on wagered amounts.

Read more: KRA Sustains Growth in Tax Collection as Revenues Surpass the Kshs 2 Trillion Mark

However, online gambling has also raised concerns about its social and economic impacts, especially on youth who are the majority of players. Some critics argue online gambling fuels poverty, crime, debt and mental health problems among vulnerable groups.

The draft bill seeks to address some of these issues by introducing measures such as responsible gambling, player protection, self-exclusion, age verification and anti-money laundering.

The public has until October 15 to submit views on the bill to the Betting Control and Licensing Board, mandated to regulate all forms of gambling in Kenya. The bill will then be presented to Parliament for debate and approval before becoming law.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Apple unveils the iPhone 15 lineup: all you need to know

Next Post

Treasury unveils draft debt strategy with major tax reforms

Brian Murimi

Brian Murimi

Brian Murimi is a journalist with major interests in covering tech, corporates, startups and business news. When he's not writing, you can find him gaming, watching football or sipping a nice cup of tea. Send tips via bireri@thesharpdaily.com

Related Posts

Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025
Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
News

The real price of Israel – Iran Conflict for Kenya.

June 19, 2025
Economy

Resilient but strained: Kenyan firms speak out in May 2025 CEO survey.

June 19, 2025
News

Co-op Bank posts KES 6.9 billion profit in Q1’2025

May 16, 2025

LATEST STORIES

Invest in stability: introducing the Cytonn USD money market fund

July 18, 2025

The Importance of Asset Diversification on Kenyan Pension Funds

July 18, 2025

Park your money where it grows: Why more Kenyans are turning to Cytonn Money Market Fund

July 16, 2025

Strategies to boost alcohol and tobacco tax revenues

July 16, 2025

Kenya’s reactive monetary policy

July 16, 2025

Why Employers Should Prioritize Pensions Over One-Time Gratuity Payments

July 10, 2025
Business and Finance Concept - Coin, Currency, Financial Item, Graph,

Opinion: Why lower taxes may be Kenya’s only escape route

July 10, 2025

Nvidia becomes the first company globally to hit USD 4.0 trillion market value

July 10, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024