Betting sites have implemented 5% withdrawal tax in Kenya. This tax will become effective from July 2025.Below is a message we received from betting sites:
Starting from July, all withdrawals will be subject to a 5% tax in accordance with new regulations. The tax amount will be automatically deducted during the withdrawal process.
This means that if you win Ksh10,000,you will be deducted 5% from the winnings. When withdrawing the money,5% which is equivalent to Ksh500 will be deducted. You will receive Ksh9500 in your phone.
If you win Ksh100,000,you will be deducted Ksh5,000, hence receiving Ksh95,000 in your phone. This is clearly alot of money to gamblers, considering that they used stake to bet.
To make decent income, you have to come up with high odds and low stake.