SportPesa is a sports betting platform with operations in Kenya, Tanzania, South Africa, the Isle of Man and the United Kingdom, where it operates in conjunction with TGP Europe. In Kenya, it is owned and operated by Pevans East Africa, a company with shareholders from Bulgaria, Kenya and the United States.
Karauri said SportPesa will make a decision later whether to set shop in Brazil—which will allow for both online betting and land-based operations.
The Brazilian presidency has already approved the sports betting law, paving way for establishment of regulations to guide gaming in the soccer mad nation.
Brazil’s U-turn was informed by the sharp growth of the gaming black market and loss of revenue from off-shore betting. According to conservative estimates by Brazilian authorities black market betting in the country stands at about US$ 350.000.000.
The footballing nation now wants to earn revenue through imposing taxes from the business.
In Brazil, land-based betting firms will be expected to pay tax equivalent to six percent of the bets, which police service will take 2.2 percent, football clubs (2 percent), public schools (1 percent) and 0.5 percent to social security
“It implies benefits will trickle down to all the society and allow the State to harness money lost through illegal offshore sports betting,” a Brazilian commentator said.
In Kenya, gambling generally takes place online with services like M-Pesa allowing users to place bets, pay off losses and get winnings on their phone without needing a bank account.
Source: GMB / pulselive.co.ke
