The Kenya Revenue Authority (KRA) and other government agencies could soon be able to track online bets in real-time pending a proposed law.
Government To Track Online Bets
The government is looking to make changes/amendments to the Gaming Bill. This will make a platform that will allow more government agencies to capture suspicious bets and gamblers.
Now, other agencies are being added to the list of institutions that will track the bets as they are placed. This is including security teams and the Financial Reporting Centre (FRC). (Deals in tracking illicit cash).
If Parliament approves changes to the law, regular and suspicious bets will be in the radar of the State.
In a nutshell, the Bill states that;
“The Gaming board shall establish a framework to facilitate real-time monitoring of online gaming activities. This shall be accessible for monitoring by the Communications Authority of Kenya and any other relevant government agencies.”
Why is this happening?
There have been increased concerns that betting firms are emerging as a vehicle to launder proceeds of crime and corruption. This essentially means that some are under-declaring their earnings to the KRA and the Betting Control and Licensing Board (BCLB).
Under the rules, any gambling advertising will need approval from the regulator. It will also require them to contain a warning message that must constitute a third of the actual advertisement.