Many betting sites in Kenya are not offering jackpots at the moment,the latest being Betika. We have asked a number of workers at the betting sites and they reveal that the number of players have gone down,making it hard for the sites to register profits. Betika has been making losses on jackpots, the last one being Ksh200 million jackpot. Now the betting site is not offering jackpot.
Another betting site that stopped offering jackpots is Betpawa. It used to offer midweek and Mega Jackpots and both were stopped. The reason is the same as above—no profits. Betpawa stake was Ksh5 only. This means that for the company to collect Ksh 1 million, they had to get 200,000 people to play.The number of bettors reduced over time.
Another reason is the intention of the government to introduce SHA to the system such that each player had to contribute certain amount to SHA. Betting sites are against this new regulation.
The number of players to the betting sites has significantly reduced over the past 5 years. This is as a result of the increase in taxation. Currently,players are deducted tax on the stake and winning amount,which is double taxation.
The future for betting sites in Kenya doesn’t look bright and we expect many other sites to stop offering jackpots.
