The Rapid Growth of Sports Betting Culture in Kenya: Is there Reason to Worry?

There has been rapid growth in the gambling and betting industry in Kenya in the past few years. And the trend seems to be growing more and more as time passes.
This can be witnessed through the increasing number of gambling and betting companies that keep being launched in the country in the recent past. The hard question here is, is betting and gambling really legal? Does it in any way impact the lives of participants positively? Does it create employment to the largest number of young people who participate more?
Sports betting is one that has taken the better part of the industry and has the largest share of the cake from participants, who are mostly young people who have cleared school but have not been lucky enough to secure employment. They tend to try their lack through betting on the scores of a game and if the prediction turns out to be correct, they win a specified amount of cash from the concerned
It is so sad to note that Billions of shillings are being wasted in this fledgling industry. Truth be told, gambling is and will never be a legitimate business despite the fact that it already appears like it is. A study by the Australian government disclosed that that though gambling is addictive and highly destructive, only around 15 percent of gamblers seek help. Meaning that many gamblers suffer quietly, with some getting into drugs and alcohol to drown their sorrows, while others simply commit suicide. That is why the Australian government has taken the bold move to not only control gambling but also offer help to those affected.
In Kenya, there is a body meant to Control and License betting companies, but is it really doing enough? Companies keep emerging left, right and center with the government watching but doing nothing. There are more than 20 betting companies and just to name a few, they include: M-Cheza, Sportpesa, Elitebet, JustBet, BetYetu, Betway, Eazibet, Betika and Betin. Under the current regime, where betting is easily available online and on phones, it is quite easy for even minors to engage in this dangerous practice.
Nations that have committed to train and equip their people with a variety of knowledge and skills, and then create a conducive environment to utilize those skills; produce highly patriotic citizens and enjoy low crime rates. Conversely, nations or communities where people are brought up to depend on handouts, or easy money, produce people who tend to be idle, unhappy, and prone to crime. And if we are not careful enough, Kenya will be one of those countries.
Parents struggle a lot to raise money so as to see their children getting quality education, but what they are not aware of is that, this same cash for school fees is the one being used for betting. These children are not going to school as they are too busy engaging in such activities. When will they learn that it is high time they stop wasting their parents’ resources? Where will such people get or create employment when at the time they are supposed to be in class, they are busy looking for easy money thorough betting?
We need to discourage the betting and gambling culture, being developed in the country and not showing our children that there is a quick way to make money without working hard.
Related: Devil’s Advocate: The Morality of Betting and the Hypocrisy of Kenyans
About Soko Directory Team
Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory
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