Sport betting company SportPesa has announced it will end sponsorship of the Kenyan Premier League (KPL) after the government imposed a hefty tax increase on gaming revenue.<\/p>\n
Company boss Ronald Karauri said the 35% increase would negatively affect its business operations.<\/p>\n
KPL’s top official Jack Oguda told the BBC that the news was devastating for Kenyan football.<\/p>\n
SportPesa’s sponsorship of teams outside Kenya will not be affected.<\/p>\n
It currently sponsors English teams Everton and Hull City.<\/p>\n
SportPesa is one of East Africa’s major gambling companies.<\/p>\n
The tax was imposed to deter minors from betting.<\/p>\n
Kenyans are the biggest gamblers in sub-Saharan Africa. Three-quarters of 17-to-35 year olds in Kenya admit to having placed a bet, according to a recent survey.<\/p>\n
Young men use mobile phone apps to predict local and international football matches.<\/p>\n
There have been concerns about its negative effects on young people with parents and religious leader saying it is harmful and urging the government to act.<\/p>\n
Parliament had initially slapped a 50% tax on bookmakers, lottery companies and sports betting sites, which was lowered to 35% before the president signed it to law.<\/p>\n
Mr Karauri told the BBC that the tax hike was likely to drive betting underground.<\/p>\n
In another statement he said that regulation and not taxation was the best way to deal with the concern about betting effects on minors.<\/p>\n
–<\/p>\n
Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"
Sport betting company SportPesa has announced it will end sponsorship of the Kenyan Premier League (KPL) after the government imposed a hefty tax increase on gaming revenue. Company boss Ronald Karauri said the 35% increase would negatively affect its business operations. KPL’s top official Jack Oguda told the BBC that the news was devastating for […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n