You Will Need Ksh 500 Million To Set Up An Online Gambling Shop in Kenya

Setting up an online gambling shop will soon be an uphill task for investors if the proposed rules will be implemented.

In the new proposed law, setting up an online betting shop will cost an intended investor 500 million shillings.

The move to charge 500 million shillings for investors into the 200-billion-shilling sector will see the majority of the small-scale players wind up business.

For one to be granted a license, under the new proposed law, one will have to part with a whopping 100 million shillings.

The bill is currently before the National Assembly and many people expect that it will sail through given the current concern about the effects of gambling on Kenyans.

The government, through the Ministry of Interior, had in April 2019 vowed to reshape the gambling industry in Kenya by rooting out rogue players who were exposing Kenyans to addiction.

According to the Ministry of Interior, 76 percent of Kenyan youth are active gamblers with the majority of them being addicts who bet and lose money on a daily basis.

To curb gambling, the new law will also require investors to deposit 200 million shillings that will be refundable as security for their business. The amount will be deposited with the Betting Control and Licensing Board (BCLB).

Investors in the online betting business will be required to deposit another 200 million shillings as proof the investment to sustain the operations of their business.

The law will also hit hard on those who seek to set up a non-online gaming business. They will be required to pay 30 million shillings for their license and security.

Those planning to start a casino business are not lucky either. The new law will not spare them. They will be required to pay 50 million shillings to secure a permit. They will also need 100 million shillings as proof of capital.