Betway resumes operations after approval from BCLB

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Betway
PHOTO/COURTESY: bettingexpert.com

Gambling firm Betway Kenya has received an operating license from the Betting Controls and Licensing Board (BCLB) to re-establish its operations in the country.

The firm’s operations were put on hold in July after BCLB denied 19 betting firms operating licenses following an April decree by Interior Cabinet Secretary (CS) Fred Matiang’i. The CS dictated that all betting firms, whose annual licenses are renewed at the end of June, undergo fresh vetting to ensure that their operations comply with the set regulations and especially in terms of remitting the prescribed taxes. According to the Interior CS, the Ksh. 200 billion industry owes the government approximately Ksh. 26 billion in unpaid taxes. 

While confirming the issuance of the license on Thursday, Betway said that it would begin deducting 20 percent of customer winnings in order to comply with BCLB and KRA directives. Rival betting firm BetLion has similarly started deducting 20 percent of customer winnings despite a court order barring gambling firms from doing so.

“To uphold full compliance with taxation laws, Betway will be deducting 20 per cent withholding tax from winnings in accordance with the law. This will be clearly displayed on individual bet slips to ensure transparency and for ease of understanding by the punter and the collected tax will be remitted directly to KRA on behalf of punters,” the company said in a statement.

Moving forward, the betting firm insisted that it will continue to endorse responsible gambling in line with its betting campaign christened ‘Bet the Responsible Way.’ “This is to ensure that its customers understand the fundamentals of betting and continue to get the entertainment benefits that come from betting in a responsible manner that does not lead to bankruptcy, emotional distress or addiction. In addition to this, the company has instituted measures to ensure only individuals that are of age can register and enjoy the services offered in their betting platform,” Betway said.

ALSO READ: BetLion defies court order not to deduct 20pc of customer winnings

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