40 pc of Kenyan gamblers intend to place bet on savings

Kenyans aged between 18 to 29 spend at least 1,550 shillings on gambling on a monthly basis.

This is according to a joint research by Ipsos and GeoPoll that also indicates that 40 percent of those engaging in gambling activities initially intended to save the money while 60 percent of them intended to use the money on recurrent expenditure.

Most youth who are unemployed, self-employed and employed have become obsessed by betting targeting to earn an extra shilling or even make a living out of it for those without jobs.

According to Ipsos-GeoPoll’s survey on capping betting activities in Kenya, those who gamble spend an average of 1,550 shillings on betting on monthly basis.

This amount of money translated to daily basis, is 3 US dollars, which many Kenyans’ lives are way below it.

This is one of the reasons that triggered the government to undertake a crackdown on gambling companies targeting those that were not adhering to laid down regulations such as tax compliance and engaging in illegal activities.

The crackdown has led to the non-renewal of licenses for 27 betting companies as well as the deportation of at least 17 directors of gambling companies.

According to the joint study by Ipsos and GeoPoll, 28 percent of those who bet in Kenya are unemployed and are still determined to seek other betting channels to earn a living.

The report indicates that at least 73 percent of bettors are already aware of the suspension and most of them are the youth.

Those aged 35 and above make up 25 percent of bettors. Of the both groups, males lead at 55 percent while female comprise 45 percent of those who gamble with an average of 77,000 shillings-household income cutting across the board.

  

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