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Sports Betting
ayushnehra
#1 Posted : Tuesday, April 07, 2015 8:10:37 PM
Rank: Member


Joined: 1/4/2015
Posts: 153
Sports Betting has Grown into Kenya and East Africa a lot since 2010. Does anyone know if VAT is imposed, or not? How about any other taxes on the proceeds from such a business?

What are your general thoughts on this type of business?
Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
watesh
#2 Posted : Tuesday, April 07, 2015 8:13:29 PM
Rank: Veteran


Joined: 8/10/2014
Posts: 968
Location: Kenya
I wish i had owned a business like this... so many people are dumping their money here in hopes of easy money
ayushnehra
#3 Posted : Tuesday, April 07, 2015 8:18:28 PM
Rank: Member


Joined: 1/4/2015
Posts: 153
watesh wrote:
I wish i had owned a business like this... so many people are dumping their money here in hopes of easy money


I have seen that and with one website you can access the whole country as a market..!! definitely considering to pursue when finances are in order..!! Need to understand the financial and legal stories though..!!
Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
UpcomingPaperChaser
#4 Posted : Tuesday, April 07, 2015 11:36:35 PM
Rank: Member


Joined: 1/20/2015
Posts: 489
Location: Nairobi
There is an ACT of government that controls gambling and betting in Kenya. But for you to always win, especially on soccer, you must be connected to bigger betting companies so that they can facilitate your access to sports statistics. Sio pesa rahisi inavyokaa. Gaming International did well for like one year before things went bad for them! I remember in Gaming, there is a guy that won Kshs.800,000/= after betting on Kshs.500,000/= on a single Man U game!!

Anyway, its such a good biz, here in TZ gambling is so rife. Everywhere you go u see people walking around with small papers showing order of games and odds. But of course almost all of them always loose!!
Enjoy every moment of your life, you never know when your time will come.
Mike Ock
#5 Posted : Tuesday, April 07, 2015 11:42:40 PM
Rank: Member


Joined: 1/22/2015
Posts: 682
I hear sportpesa can make 2m on a good day. But I hear the physical betting shops in town are not doing so well, so betting website is the key.

However there's a few catches:

1. the biggest international websites eg Google, Facebook, don't allow ukora like gambling to be advertised, so you have to do ads mostly on traditional media, which is damn expensive

2. government license is needed to operate, so get ready to bribe your way through the door with cash and shares in the business

3. the reality of gambling is that you'll make most of your money from 'good clients,' aka poor men willing to throw away their life savings on gambling addiction while their families break under the stress. So you must have a hardened, blackened heart to do this business
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