Kenya has added another giant betting firm to its list of top companies joining the gambling market after the exit of SportPesa and Betin Kenya.
Betting Control and Licensing Board (BCLB) has approved Triple 5bet to operate in the country. There is information revealing that the company is also launching in partnership with a giant betting company from the UK. Speculations point towards 888 Sports, Unibet and Hopa which are top firms in Europe.
Triple 5bet said in a statement it is bringing a gaming experience never seen before in the country. The company’s Operations Manager Jack Spencer noted that the giant betting firm will unveil mega jackpot worth Sh500 million.
If implemented, it will be the highest Jackpot on the land followed by BetLion’s 350 million shilling event. Betika also runs a Grand Jackpot worth 100 million shillings. Currently, the most competitive jackpot is the Mozzartbet Daily Jackpot worth 10 million. Two people have walked home with 10 million shillings each in a spun of two weeks. You can bet in any of the Jackpots today using this combinations which have never missed bonuses.
Further, betting firm said it will bring international gaming experience to Kenya, through variety of sports, top quality odds, free bets, virtual games and live gaming.
Kenyan gamblers won big in June when President Uhuru Kenyatta signed into law a bill which removed excise duty on betting. But a number of gaming firms are yet to effect the changes. The likes of Betika only removed it incase one if placing bets on a few odds but deducts the amount when you aim high.
A battle that pitted Kenya Revenue Authority against betting companies last year led to several of the firms exiting the market. The firms showed dissatisfaction over what they termed high taxation.
The Finance Act 2019 introduced excise tax on stakes placed on bookmakers by punters, placing it at 20 per cent. KRA ordered the betting firms to display the deductions on betting slips.The Finance Act 2019 also hiked the excise duty from 10 per cent that had been proposed in the Finance Bill earlier in the year to 20 per cent.