According to the betting regulator, the Kenyan betting industry has recorded outpouring popularity boosted by aggressive marketing campaigns by industry players and projections are that gross gambling revenue in Kenya stands at Sh7 billion monthly and about Sh100 billion annually.
It’s estimated that by the year 2022, the global gambling market could be worth $635 billion according to new findings by Dublin-based Research and Markets.
In Africa millennials especially within the Sub-Saharan Africa region are using their mobile phones to bet on football and are spending less than $50USD per month.
According to research on gambling, poverty is a constant risk factor for problem gambling and mostly affects already vulnerable populations. With high unemployment rates, the high gambling habits among young Kenyans could be a cry for help as many seek financial independence.
CS Matiang’i alluded to the fact that poverty is a constant risk factor for problem gambling and mostly affects already vulnerable populations, especially the youth.
“It is the position of Government to support the growth of the private sector as the engine of economic growth but only in a manner that is honest, accountable and socially responsive.
“Going forward, we will introduce a regulatory framework predicated on minimising harm. Our support and action in the sector will be purely driven by the government’s “Duty of Care”, responsibility and dedication to the public interest,” he said.
Kenya boasts of a better ranking in terms of affordability of devices and services, scoring 63.06 out of a possible 100. Tanzania scores 41.24 and Uganda, which put a ban this month on online betting has 38.42.
“The mobile phone has become the most convenient tool for those gambling. About 75 percent of those who bet do so using their mobile phones with Kenya having the highest number of mobile usage for gambling at 96 percent,” Geopoll said.