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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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murchr wrote:Why is the govt frastrating gambling/sports betting yet that is money circulating in the economy?
I may not agree with these firms sponsoring clubs in the UK but why is there so much aggression against local betting firms? Sports betting is big money to the economies all over the world.
What happened to Kibaki's dream of making Isiolo the center of gambling in Kenya? Read Kanini Kega (sp) interview on BD this week. That is the GoK's thinking that gambling is evil and addictive and is wasting youth in Kenya. In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Angelica _ann wrote:murchr wrote:Why is the govt frastrating gambling/sports betting yet that is money circulating in the economy?
I may not agree with these firms sponsoring clubs in the UK but why is there so much aggression against local betting firms? Sports betting is big money to the economies all over the world.
What happened to Kibaki's dream of making Isiolo the center of gambling in Kenya? Read Kanini Kega (sp) interview on BD this week. That is the GoK's thinking that gambling is evil and addictive and is wasting youth in Kenya. So is smoking and drinking, but we are not closing BAT or EABL We have very nonsensical politicians. We have been betting horses eons, are they just discovering this now? "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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Rank: Member Joined: 1/22/2015 Posts: 682
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Angelica _ann wrote:murchr wrote:Why is the govt frastrating gambling/sports betting yet that is money circulating in the economy?
I may not agree with these firms sponsoring clubs in the UK but why is there so much aggression against local betting firms? Sports betting is big money to the economies all over the world.
What happened to Kibaki's dream of making Isiolo the center of gambling in Kenya? Read Kanini Kega (sp) interview on BD this week. That is the GoK's thinking that gambling is evil and addictive and is wasting youth in Kenya. Not only that, but I personally know one of the owners of one of the (former) top betting firms in Kenya. These guys are foreigners, so every week they used to ship out 20 million minimum to some tax haven, then on to Denmark where they stay. This is devastating to the Kenyan economy since all the top betting firms were foreign owned and doing the same procedure. Note that in betting, the company doesn't sell anything to their customers, so when they make their money, it is the same as stealing from an accounting perspective. And also note that betting companies are not large employers, they can get by with very few employees. The company I'm talking about had 20 something employees.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Mike Ock wrote:Angelica _ann wrote:murchr wrote:Why is the govt frastrating gambling/sports betting yet that is money circulating in the economy?
I may not agree with these firms sponsoring clubs in the UK but why is there so much aggression against local betting firms? Sports betting is big money to the economies all over the world.
What happened to Kibaki's dream of making Isiolo the center of gambling in Kenya? Read Kanini Kega (sp) interview on BD this week. That is the GoK's thinking that gambling is evil and addictive and is wasting youth in Kenya. Not only that, but I personally know one of the owners of one of the (former) top betting firms in Kenya. These guys are foreigners, so every week they used to ship out 20 million minimum to some tax haven, then on to Denmark where they stay. This is devastating to the Kenyan economy since all the top betting firms were foreign owned and doing the same procedure. Note that in betting, the company doesn't sell anything to their customers, so when they make their money, it is the same as stealing from an accounting perspective. And also note that betting companies are not large employers, they can get by with very few employees. The company I'm talking about had 20 something employees. If this was happening, then its caused by the govt failures What happened to Kenya Charity sweepstakes? "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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murchr wrote:Why is the govt frastrating gambling/sports betting yet that is money circulating in the economy?
I may not agree with these firms sponsoring clubs in the UK but why is there so much aggression against local betting firms? Sports betting is big money to the economies all over the world.
What happened to Kibaki's dream of making Isiolo the center of gambling in Kenya? How exactly is this money circulating in the economy??? Everton is not within our economy! I have no issue with building a Vegas in Isiolo or North Eastern where the rich go but these small bets of 20 bob on promises of making millions in an impoverished country like Kenya is a disaster for the young jobless generation. Safaricom as much as I respect it, is an enabler of poverty. BBI will solve it :)
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Rank: Member Joined: 2/15/2018 Posts: 428
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2012 wrote:murchr wrote:Why is the govt frastrating gambling/sports betting yet that is money circulating in the economy?
I may not agree with these firms sponsoring clubs in the UK but why is there so much aggression against local betting firms? Sports betting is big money to the economies all over the world.
What happened to Kibaki's dream of making Isiolo the center of gambling in Kenya? How exactly is this money circulating in the economy??? Everton is not within our economy! I have no issue with building a Vegas in Isiolo or North Eastern where the rich go but these small bets of 20 bob on promises of making millions in an impoverished country like Kenya is a disaster for the young jobless generation. Safaricom as much as I respect it, is an enabler of poverty. Sportpesa was sponsoring 2 or 3 local football teams, sponsoring the KPL, boxing, rugby ....... Given that this is Kenya, I suspect that Sportpesa was forced out to make way for another gambling company owned by a senior gava official
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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It is very wrong to collect money from impoverished kenyans to go and sponsor premier league clubs and formula 1 racing, while also enriching the eastern european owners of the gambling firms. The illicit transfer of resources from poor africa to rich europe must be condemned. That is modern day slavery and it must be stopped. Gambling should be outlawed.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Queen wrote:Mastermind wrote:Queen wrote:whiteowl wrote:Angelica _ann wrote:How do you deposit and withdraw from the international bet-houses? One option is to use PayPal and link it to mpesa or a local bank like equity.Mpesa to PayPal deposit is charged 4% and withdrawal 3%.Takes 2 hours to 2 days to reflect depending on the amount. Equity charges 1.5% but more slower than mpesa.You can also topup your betting account directly using your debit card(visa/MasterCard) but its usually safer to run transactions through a third party of your choice like PayPal. So just look for foreign bookies with PayPal payment option and you're good to go. That process is too complicated. It's easier to quit betting altogether and let the government collect zero tax from zero gross winnings and see who will blink first. My twin though am contemplating trying bet22. I visited their site and noted that at some point they might require you to take a selfie holding your ID card revealing your name. Going through their conditions for redeeming bonus payouts is harder than sitting a biochemistry exam in Chiromo campus. Very funny... possunt quia posse videntur
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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radiomast wrote:2012 wrote:murchr wrote:Why is the govt frastrating gambling/sports betting yet that is money circulating in the economy?
I may not agree with these firms sponsoring clubs in the UK but why is there so much aggression against local betting firms? Sports betting is big money to the economies all over the world.
What happened to Kibaki's dream of making Isiolo the center of gambling in Kenya? How exactly is this money circulating in the economy??? Everton is not within our economy! I have no issue with building a Vegas in Isiolo or North Eastern where the rich go but these small bets of 20 bob on promises of making millions in an impoverished country like Kenya is a disaster for the young jobless generation. Safaricom as much as I respect it, is an enabler of poverty. Sportpesa was sponsoring 2 or 3 local football teams, sponsoring the KPL, boxing, rugby ....... Given that this is Kenya, I suspect that Sportpesa was forced out to make way for another gambling company owned by a senior gava official Even the small winnings are money circulating in the economy. As I stated above, the sponsoring of an English club was stupid, it even exposed them to too much scrutiny, but as long as they were sponsoring teams that the govt had no other way o sustaining them then its a loss. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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murchr wrote:radiomast wrote:2012 wrote:murchr wrote:Why is the govt frastrating gambling/sports betting yet that is money circulating in the economy?
I may not agree with these firms sponsoring clubs in the UK but why is there so much aggression against local betting firms? Sports betting is big money to the economies all over the world.
What happened to Kibaki's dream of making Isiolo the center of gambling in Kenya? How exactly is this money circulating in the economy??? Everton is not within our economy! I have no issue with building a Vegas in Isiolo or North Eastern where the rich go but these small bets of 20 bob on promises of making millions in an impoverished country like Kenya is a disaster for the young jobless generation. Safaricom as much as I respect it, is an enabler of poverty. Sportpesa was sponsoring 2 or 3 local football teams, sponsoring the KPL, boxing, rugby ....... Given that this is Kenya, I suspect that Sportpesa was forced out to make way for another gambling company owned by a senior gava official Even the small winnings are money circulating in the economy. As I stated above, the sponsoring of an English club was stupid, it even exposed them to too much scrutiny, but as long as they were sponsoring teams that the govt had no other way o sustaining them then its a loss. When you see a company where the major shareholders are forge in and don't even leave here then know that most of the money is repatriated out of the country. This is a private business that is in the sector of greed that's why even paying taxes is an issue. BBI will solve it :)
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