Kenya to introduce higher deposits for bookmakers

To protect players from non-payment of winnings by operators, the Kenyan government may amend the Gambling Control Bill. The change proposes to increase the deposit for bookmakers from $1,930 to $773,000

Over the past three years, the number of licensed operators in Kenya has increased from 100 companies to more than 226. Such a sharp increase is associated with the growing popularity of the gambling industry, but the regulatory framework has not kept up with the industry.

The deposit of 100 million shillings will be to eliminate companies from the market that are unable to provide financial guarantees, as well as to establish a system of mandatory financial supervision. According to experts, financially unsuitable companies will leave the market even before the innovations appear.