Home LATEST NEWS Gambling license cost in Kenya

Gambling license cost in Kenya

227
0

To start a gambling firm in Kenya, one needs up to Ksh 500 million. In addition, Ksh100 million is required for the gambling license. This fee is specifically for online sports betting companies.

Any betting company which is interested in starting business in Kenya is required to deposit Ksh200 million with the Betting Control and Licensing Board (BCLB),in addition, the company should provide proof of Ksh200 million for its operations.

For any company offering jackpots of Ksh 100 million every week,it must have a capital of more than Ksh 1 billion.

Apart from the Ksh 500 million required to start a betting firm, every company is required to clear with the Kenya Revenue Authority, Immigration, BCLB and the Ministry of security. It’s believed that some betting firms participate in money laundering, which is why they have to clear with the security ministry.

So,for anyone intending to register a betting company in Kenya, they must have more than Ksh500 million.

Loading...

LEAVE A REPLY

Please enter your comment!
Please enter your name here