Unlocking the Potential of a Thriving Kenyan Gambling Market
Welcome to Kenya — the pulsating heart of East Africa, where the rhythm of the game is in sync with the vibrant culture. With a population of around 55 million and a tech-savvy inclination, the state is the largest economy in the region. It is also a hotbed for the flourishing world of online gambling.
Discover the vast potential of the Kenyan entertainment niche, a perfect solution for gaming manufacturers and operators alike. Online Casino Market offers insights into the advantages and distinctive features of the country's wagering sector. We can also help with launching a one-of-a-kind project in the prosperous African territory.
Here are 2 main facts about this market’s prosperity:
- The Kenyan gambling industry is a behemoth, valued at a staggering $40 million in 2020, resilient even in the face of global challenges.
- With nearly 30 licensed sportsbooks and an estimated combined revenue of $2 billion, the market is buzzing with potential.
Ranking third in Sub-Saharan Africa, the country stands out with the highest number of young gambling enthusiasts in the region. The youth aged 18-25 outspend their counterparts in other African nations, making Kenya a promising arena for operators. The most favoured amusements include table games and slot machines.
Sports wagering is the undisputed king, with football, especially European leagues, capturing the lion's share of bets. Still, online poker and casino amusements are very popular.
Local game producers are known for their technical prowess. All of them are mostly focused on mobile devices because the level of Internet penetration in the country is increasing. The shift to online platforms in recent years has opened up new horizons, giving entrepreneurs a chance to attract a digitally savvy audience.
Gambling activities are lawful, but the regulatory landscape is intricate. Rooted in the 1966 "Betting, Lotteries, and Gaming Act," the laws do not explicitly address iGaming. The Betting Control and Licensing Board regulate land-based operations, providing an opening for international entrepreneurs.
Legal gambling websites emerged in 2011, marking the beginning of a surge in popularity for online platforms.
While the state law permits various wagering activities, including betting, lottery, casino games, and slots, the future legal framework remains uncertain.
In 2018, the regulatory body decreased the charge rate on gross gaming revenue from 35% to 15%. However, a subsequent imposition of a 20% tax on gamblers' winnings was met with disapproval within the industry and was eventually rescinded.
Kenya has various taxation measures in place for different forms of wagering:
- A 15% charge rate is applied to gaming earnings.
- The lottery incurs a tariff equivalent to 15% of its income.
- Bookmakers are subject to a levy of 15% of the profits generated.
- As of now, the online entertainment sector remains untaxed.
The country has a lot to offer for businesses, especially in the wagering industry. While sports betting is currently the main focus, we suggest a smart and varied approach for operators. Consider offering a mix of web casino games and bidding options for local gamblers.
The land-based wagering industry, legalised in 1996, is valued at $40 million. Although the online segment lacks regulation, entrepreneurs can operate with foreign licences, enjoying benefits like:
- low competition;
- an English-speaking environment;
- progressive industry development with the latest technologies.
Kenya's gambling scene is shifting from physical locations to web platforms, creating plenty of opportunities. If you're looking for expert advice and a customised business plan, Online Casino Market’s professionals are here to help. We support the establishment of wagering websites by providing top-notch gambling content.
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Take advantage of the growing Kenyan market and set yourself up for a successful future. For more information, please contact our manager.
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