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Alternative investment-Sport pesa
radiomast
#2241 Posted : Thursday, July 02, 2020 8:11:33 PM
Rank: Member


Joined: 2/15/2018
Posts: 428
sqft wrote:


Does the kenyarra family have to be brought into every issue? I thought the betting companies have been in court challenging the tax with some even exiting the country due to illogical taxation and also wananchi were also complaining that tax on their bets was hurting them. Siku hizi even when it rains, its said to be a kenyarra family conspiracy so that they can benefit by watering their farms. This nonsense by idlers has become too much.


Sportpesa, the largest betting firm was forced out of business In October 2019 due to a disagreement with the govt over taxation. At issue was the 20% excise tax.

Fast forward to July 2020. Now the Kenyatta family has acquired a significant stake in Sportpesa. Now UK has conveniently decided to waive the 20% excise tax.

Are you still going to bury your head in the sand?

https://www.financeuncov...-sportpesa-betting-firm/
radiomast
#2242 Posted : Thursday, July 02, 2020 8:17:50 PM
Rank: Member


Joined: 2/15/2018
Posts: 428
Before the govt kicked out Sportpesa last year, the firm was employing thousands of Kenyans in various capacities.

They sponsored various sports leagues and national teams to the tune of hundreds of millions of shillings. This enabled various sports people to earn a living.

When Sportpesa was kicked out, players, coaches, referees etc, went broke due to lack of salaries. They were kicked out of their dwellings due to inability to pay rent. Some marriages dissolved. All so that the Kenyatta family can acquire a signficant stake in a betting firm that mints millions.

Most of the money that was going to support these youth will now go the Kenyatta family. Some of these broke youth will now resort to crime and carjack your royal behind. All so that the kenyatta family which is already immensely rich can become even richer

https://www.the-star.co....e-kpl-players-speak-out/
mpobiz
#2243 Posted : Friday, July 03, 2020 4:09:40 PM
Rank: Elder


Joined: 8/10/2010
Posts: 2,264
radiomast wrote:
[quote=sqft]

Does the kenyarra family have to be brought into every issue? I thought the betting companies have been in court challenging the tax with some even exiting the country due to illogical taxation and also wananchi were also complaining that tax on their bets was hurting them. Siku hizi even when it rains, its said to be a kenyarra family conspiracy so that they can benefit by watering their farms. This nonsense by idlers has become too much.


Sportpesa, the largest betting firm was forced out of business In October 2019 due to a disagreement with the govt over taxation. At issue was the 20% excise tax.

Fast forward to July 2020. Now the Kenyatta family has acquired a significant stake in Sportpesa. Now UK has conveniently decided to waive the 20% excise tax.

Are you still going to bury your head in the sand?

https://www.financeuncov...sportpesa-betting-firm/[/quote]


Matingi amekanusha hii maneno.
Politics is just things to keep the people divided and foolish and put your trust in men and none of them can do nothing for you...
doubletap
#2244 Posted : Saturday, July 04, 2020 7:04:06 PM
Rank: Member


Joined: 7/17/2014
Posts: 132
Location: Wherethewindblows
In as much as they we re-ploughing back the betting gains, gambling cannot be used as a means to uplift our communities since they also do take a lot from the people. Those billions were not from the winnings of gamblers but more the losses that many had incurred. Plus don't forget gambling can become an addiction that destroys lives and livelihoods and we don't have the capacity to deal with as a nation.

Lets think of other ways to support all those who relied on there sponsorship, sports is big business so we need to monetise it.

You have to learn the rules of the game. And then you have to play better than anyone else - Albert Einstein
radiomast
#2245 Posted : Monday, July 06, 2020 5:32:37 PM
Rank: Member


Joined: 2/15/2018
Posts: 428
mpobiz wrote:


Matingi amekanusha hii maneno.


The President signed the Finance Act 2020 into law that includes erasing the 20% excise tax on betting. But Matiangi's roadside declaration weighs more.
Haki there are too many jokers in Kenya. Kollywood should be churning out big box office comedies. Laughing out loudly Laughing out loudly Laughing out loudly


Swenani
#2246 Posted : Tuesday, July 14, 2020 12:14:53 PM
Rank: User


Joined: 8/15/2013
Posts: 13,236
Location: Vacuum
doubletap wrote:
In as much as they we re-ploughing back the betting gains, gambling cannot be used as a means to uplift our communities since they also do take a lot from the people. Those billions were not from the winnings of gamblers but more the losses that many had incurred. Plus don't forget gambling can become an addiction that destroys lives and livelihoods and we don't have the capacity to deal with as a nation.

Lets think of other ways to support all those who relied on there sponsorship, sports is big business so we need to monetise it.



It seems you are describing Obiero's NSE activities.
1)How much has KQ taken away from Obiero
2)Can Obiero be waned off his KQ addiction
If Obiero did it, Who Am I?
radiomast
#2247 Posted : Tuesday, July 14, 2020 6:31:15 PM
Rank: Member


Joined: 2/15/2018
Posts: 428
doubletap wrote:
In as much as they we re-ploughing back the betting gains, gambling cannot be used as a means to uplift our communities since they also do take a lot from the people. Those billions were not from the winnings of gamblers but more the losses that many had incurred. Plus don't forget gambling can become an addiction that destroys lives and livelihoods and we don't have the capacity to deal with as a nation.

Lets think of other ways to support all those who relied on there sponsorship, sports is big business so we need to monetise it.



You are right in that sports can be a big employer and can keep youth busy in positive activities and away from crime.

But It doesn't help that successive presidents think sports are a joke. So the person assigned to be sports minister is usually a person with very little interest in sports like Amina or a complete clown like Echesa.

Basically the sports ministry is being used by presidents to give people positions as personal favours or to just engage in political shenanigans like Echesa.
whiteowl
#2248 Posted : Monday, July 27, 2020 7:54:33 AM
Rank: Veteran


Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
With the impending 2nd lockdown, I'll be reviving this thread so that we make some money. And please don't use any local bookies when expecting big payouts. The current lot are just scammers
kmucheke
#2249 Posted : Monday, December 14, 2020 1:23:39 PM
Rank: Member


Joined: 3/16/2019
Posts: 313
False wins, court cases and the thin veil of charity: How betting firms took Kenyans for a ride

Quote:
There is still one puzzle in the story of SportPesa’s meteoric rise to the top, and its spectacular crash: its numbers just do not seem to add up. For instance, the firm declared revenue (bets placed) of Sh149.7 billion in 2018. This was a 35 per cent growth from Sh111.5 billion in 2017.

On the face of it, these numbers look okay. But the 2019 population census estimated Kenya’s population at 48 million, with a median age of 19. Gambling is illegal for anyone under the age of 18, so that leaves Kenya’s adult population, at approximately 25 million, as SportPesa’s legal clients. To make this money, every Kenyan of legal gambling age in 2018 would have to have wagered Sh6,000 with just one company.

This is a puzzle that even economists are struggling to crack, especially given the fact that an Ipsos survey from 2018 claimed that around half of all Kenya's households (not individuals) made less than Sh10,000 in a month.

“These numbers are too big. Kenyans were betting, but Sh150 billion for just one company? We must all be missing something. What must be confirmed is whether for sure SportPesa really paid out in excess of Sh120 billion because that is really a lot of money,” Tony Watima, an economist, said.

“That is about half of what the Teachers Service Commission uses to pay teachers. Or is the same as what tea farmers receive as bonuses. There is no way such money can move into the economy and people on the ground do not feel it,” Watima added.
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