10 Betting Companies Get Kenyan Gambling License
We have been informed that ten new companies have been issued a Kenyan gambling license. The website of The Betting Control and Licensing Board (BCLB) is not working properly at the moment, but we have gotten the information from reliable sources. The news comes as quite a surprise considering the recent increase in the tax on betting stakes from 7.5% to 12.5%.
Takes the number of licensed betting sites in Kenya to 71
Prior to this news there were 61 licensed and legal betting operators in Kenya. The 10 new companies take this number to 71.
Here are the new Kenyan betting sites that got their license:
- Ealotto
- Betkali
- Play2Net
- Betmo
- Chapbet
- Tigonbet
- Clarity Limited
- Savvybet
- 4bet
Although the competition is getting more difficult, there is no doubt that the Kenyan market is quickly growing. Despite the struggles faced by the higher taxes, the Kenyan betting industry recorded a revenue of Sh88.5 billion from June 2022 to June 2023. To put this in comparison, the turnover of the Nairobi Securities Exchange (NSE) last year was Sh94.2 billion.
Staggering numbers
The current numbers in the Kenyan online betting market is impressive. According to Business Daily, Kenyans place Sh242 million on online bets every day. This means that about Sh2,806 is being placed on bets every second. It is great that the market is growing as it will create new jobs to Kenyans in the online iGaming sphere. To get a Kenyan license also means that these companies have to adhere to strict rules regarding responsible gaming, something that many casinos without a Kenyan license still overlook. Also, for Kenyan players, playing at a betting site with a Kenyan license means they will get treated fairly and that they can rely on the BCLB during any disputes with a betting site.
Having a licensed market also means that the Kenyan government can crack down on illegal activities, including money laundering, more effectively.
