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Gamble Funds at Stake Over Betting Sites Closure

48-Hour Ultimatum to Withdraw Betting Funds.

FRED MATIANGI
FRED MATIANGI

Kenyan gamblers are at stake of losing their funds in betting firms as the state issues a 48 hour ultimatum.

The ministry of Interior directed very strict rules and license regulations pertaining betting firms and gambling in Kenya effected July 1, 2019.

Failure of adhere to this would result to various consequences and finally closure of the betting firms. The threat has finally been effected as the Interior CS Fred Matiang’i directed all telecommunications companies to close betting companies within 48 hours.

Betting since introduced in Kenya has been on the forefront for various things, such that people were made millionaires from  humble beginnings while taking a toll on the livelihood of people consecutively. The youth especially were the most affected by betting and gambling as they resorted to spending majority of their time doing nothing rather than betting.

There have, for instance, been circumstances where families were wrecked due to addiction to betting in that funds set aside for important financial issues were invested in betting with the aim of acquiring more.

School going children have also neglected education and focused into gambling to get easy funds.The major cause for this is unemployment and state of joblessness in the country.

As much as betting companies have played key roles in the economy through taxation and sponsorship, the wreck caused  to the youths is major and might result to worse state if not curbed.

The directive by the CS therefore is aimed at regulating betting companies and gamblers from wrecking the lives of children.

 

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