Canada Sports Betting. Sports betting in Canada has grown to become just as popular as it is in the United States. Canadian betting does focus on different sports, including: Ice Hockey, Football. Overseas Betting Sites – Regional Analysis to Help You Pick a Foreign Betting Site! Here's the answer for those of you who wonder how to get some extra aid on selecting a local betting companies free of. From the time of baba Germany (2000), reported being around ebute meta area of Lagos, to the era of 1960bet Nigeria, Bet9ja, Nairabet, and others including new betting companies and their betting sites in Nigeria. Then, (in primary school days) we locked our pinkie fingers and cut it, to seal the deal, sports betting.
Betting and Taxes in Kenya – Do I have to pay any taxes?
BLOG 12/06/2019
The government, through the Ministry of Finance, Planning and Economic Development is to ban foreign betting companies operating in Uganda. Minister of Finance Matia Kasaija made the clarification on Tuesday in Kampala, saying government is only giving opportunities to betting companies. Foreign companies are giving up on the United States and betting big on China, report says Photo CNN Business Shoppers at a mall in Wuhan, China's central Hubei province. Share on Facebook.
It is no secret that gambling is now more popular than ever in Kenya as evidenced by the several sports betting companies that have emerged in recent years. Whether in casinos, at the race track or even on your phone or computer, the allure of a one-time life changing paycheque has driven many to join the craze with only as little as ten shillings needed in order to participate.
In an annual report done by Hootsuite, betting sites top the list of the most searched category on the internet. However, there is a general lack of awareness on the tax implications involved while betting.
Betting in accordance to the Law
There have been instances where people leave a popular betting company because they did not get the ‘full' winnings' deposited to their account, the gambler (punter) feels short-changed and this should not be the case.
The Betting, Lotteries and Gaming Act (1966) stipulates the rules and regulations that one needs to abide by when it comes to Betting.
Online Betting Companies
Betting means to wager or stake any money or valuable thing on behalf of any person or, expressly or impliedly to undertake, promise or agree to wager or stake by or on behalf of any person, any money or valuable thing on a horse race, or other race, fight, game, sport, lottery or exercise or any other event or contingency;
In practice, Kenya Revenue Authority (KRA) taxes the winnings of punters (people who place bets) when they wage successful bets. It is important to note that placing of bets is a form of entertainment and does not lead to generation of income because it is a consumption.
Mandate of a bookmaker
A bookmaker is a person who;
- Is in the business of receiving or negotiating bets on his own account or on behalf of others
- A person who receives and negotiates bets.
Betting companies, are required to withhold winnings at a rate of 20% as provided by Sections 10(g), 34(1)(m), 34(2)(i), 35(1)(i), 35(3)(h) and Paragraphs 3(i) and 5(i) of The Third Schedule, Head B of the Income Tax Act, Cap 472. This means that if you place a bet and win Ksh 50,000 you will receive Ksh 40,000. The balance of Ksh 10,000 is withheld by the betting company and remitted to KRA.
Betting tax is chargeable on the gross gaming revenue (GGR) of a bookmaker at the rate of 15% as provided by Section 29A of the Betting, Lotteries & Gaming Act, 1966. Gross gaming revenue means gross turnover less the amount paid out to the customers as winnings. The bookmaker remits 15% of the GGR to KRA on the 20th of every month. Similarly, winnings from casinos, lotteries and prize competitions are taxed at the rate of 15% as provided by sections 55A, 44A and 59B of the BLG Act respectively.
Foreign Betting Companies In Kenya
Tax compliance for those who gamble.
It is imperative that each individual involved in betting ensures that they are tax compliant. Additionally, it is important to note that the withheld amount by the bookmaker is final meaning that you do not have to make declarations in your annual Income Tax Returns.
So the next time you are engaged in betting and you get your full winnings after winning a placed bet, you ought to report such companies to Kenya Revenue Authority for non-compliance.
By Maureen Wangari
Elsewhere on the site we've looked at whether you can place bets with your UK-based bookmaker when you're out of the country on holiday or abroad. The next obvious question after that is whether you're able to register online with a foreign betting company when you're abroad.
The short answer to that is this is normally something that is restricted to residents only. There are however options still available such as betting in shops, land-based casinos and registered premises if these are available.
As we noted in the other piece, the only way of betting with a UK company online that isn't licensed in the country you're in is by using a VPN, but this contravenes your terms with most betting sites. As a result, you may wish to register with a local betting company but will struggle to do so if you don't have a permanent address there.
This isn't a universal rule, there are many unscrupulous gambling sites that will accept customers from anywhere with little checks. These are however highly unsafe and often linked to criminal activity, therefore on this page we are talking about betting abroad with legitimate companies that are allowed to operate in a given country.
Registering With A Foreign Bookie
Foreign Betting Companies
It is estimated that around a third of British expats live in either Australia or New Zealand, with about 28% being based in the United States of America and Canada and about 26% living in the European Union. Living in one of those countries will mean that those people have a permanent address that isn't a hotel, allowing them to register with their betting licensed betting companies (where they allow gambling online).
The issue arrives for people who are only holidaying in a country and therefore don't have any sort of permanent address. If you try to register with your hotel's address you'll almost always find that it isn't allowed, whilst ‘borrowing' an address from someone you know that lives in there country will also be difficult given you won't be able to verify that address, not to mention the fact it is fraudulent.
When you open a betting account you have to give your address as well as banking details. The latter will usually require you to give the address that your bank is registered to and that will obviously be in the United Kingdom. This is where most people have trouble registering with a foreign bookmaker and placing bets with them.
Even if you are able to register with a site in another jurisdiction you will likely have to play in the local currency, if you are therefore linking a UK bank account or eWallet in GBP then you will be liable for exchange fees. If you are an expat in that country you will likely have a bank account in the local currency that you can use, if not it is worth getting one if you plan to gamble online.
There is also the obvious risk that if you knowingly register for an account when you shouldn't and you are found out you could end up forfeiting any winnings you make.
Use Companies That Are Licensed Where You Are
One of the easiest ways of being able to place bets when abroad is by using a company that has a licence both where you find yourself and in the United Kingdom. William Hill is a good example of a bookmaker that has licences all over the world, meaning that you shouldn't have much of a problem registering with their foreign companies if you have a corresponding registered address in that country.
If you have an account with them in the UK then it's entirely possible that you'll be able to login to your main account via the Spanish website when in Spain, as an example, and place bets legally.
If William Hill aren't registered in the country that you find yourself in, however, then you might wish to find alternative ways of placing bets.
Betting In Person
Elsewhere on the site we've looked at whether you can place bets with your UK-based bookmaker when you're out of the country on holiday or abroad. The next obvious question after that is whether you're able to register online with a foreign betting company when you're abroad.
The short answer to that is this is normally something that is restricted to residents only. There are however options still available such as betting in shops, land-based casinos and registered premises if these are available.
As we noted in the other piece, the only way of betting with a UK company online that isn't licensed in the country you're in is by using a VPN, but this contravenes your terms with most betting sites. As a result, you may wish to register with a local betting company but will struggle to do so if you don't have a permanent address there.
This isn't a universal rule, there are many unscrupulous gambling sites that will accept customers from anywhere with little checks. These are however highly unsafe and often linked to criminal activity, therefore on this page we are talking about betting abroad with legitimate companies that are allowed to operate in a given country.
Registering With A Foreign Bookie
Foreign Betting Companies
It is estimated that around a third of British expats live in either Australia or New Zealand, with about 28% being based in the United States of America and Canada and about 26% living in the European Union. Living in one of those countries will mean that those people have a permanent address that isn't a hotel, allowing them to register with their betting licensed betting companies (where they allow gambling online).
The issue arrives for people who are only holidaying in a country and therefore don't have any sort of permanent address. If you try to register with your hotel's address you'll almost always find that it isn't allowed, whilst ‘borrowing' an address from someone you know that lives in there country will also be difficult given you won't be able to verify that address, not to mention the fact it is fraudulent.
When you open a betting account you have to give your address as well as banking details. The latter will usually require you to give the address that your bank is registered to and that will obviously be in the United Kingdom. This is where most people have trouble registering with a foreign bookmaker and placing bets with them.
Even if you are able to register with a site in another jurisdiction you will likely have to play in the local currency, if you are therefore linking a UK bank account or eWallet in GBP then you will be liable for exchange fees. If you are an expat in that country you will likely have a bank account in the local currency that you can use, if not it is worth getting one if you plan to gamble online.
There is also the obvious risk that if you knowingly register for an account when you shouldn't and you are found out you could end up forfeiting any winnings you make.
Use Companies That Are Licensed Where You Are
One of the easiest ways of being able to place bets when abroad is by using a company that has a licence both where you find yourself and in the United Kingdom. William Hill is a good example of a bookmaker that has licences all over the world, meaning that you shouldn't have much of a problem registering with their foreign companies if you have a corresponding registered address in that country.
If you have an account with them in the UK then it's entirely possible that you'll be able to login to your main account via the Spanish website when in Spain, as an example, and place bets legally.
If William Hill aren't registered in the country that you find yourself in, however, then you might wish to find alternative ways of placing bets.
Betting In Person
Another way of getting around the restrictions put in place on bookmakers when it comes to foreigners not being allowed to register an account unless they have a permanent address is to place bets in person. Whilst the online restrictions are in place in order to stop people money laundering, the same isn't the case in person.
That's not to say that there isn't a desire to stop money laundering in physical bookmaker's shops, it's just that most people who are only placing relatively small bets won't be subject to the same scrutiny as those betting with huge amounts of money. As a result, you could walk into a bookmaker's in a foreign country and place a bet without a problem.
In Las Vegas, for example, sports books are common in most casinos and can be used by people that are visiting the venue, even if they're not staying in one of the hotels. It's the same as wanting to place a wager on the roulette wheel or when playing blackjack, with the only difference being the thing that you're betting on.
If you've found a market that you wish to bet on when you're in a country on holiday then there's unlikely to be an issue with placing that bet in a physical betting shop. The process might be different to how you place a bet at home, but doubtless someone will explain it to you or you can watch what a local does.
It is worth pointing out however that most countries are not as in love with gambling as the UK is and so don't expect to necessarily find a bookmaker shop on every high street like at home.
Beware Tax Implications
Betting with a local bookmaker when you're abroad is all well and good, but do be aware that in doing so you'll leave yourself open to that country's tax laws. In the United Kingdom there is no tax owed on winnings because UK-facing companies have to pay what is known as Point Of Consumption tax, but the same isn't true elsewhere.
Sticking with Las Vegas, for example, you're unlikely to be pulled up if you win a small amount on the roulette or blackjack table, but if you hit the jackpot on an electronic machine then you can expect the casino's management to come over to you and ask for your details as a levy might well be due on the payment.
Most of the time this will be dealt with by the companies that you're betting with, so you don't really need to worry. Being worried and being aware are two different things, however, and it's always handy to have an idea of what's going on with your money. We've covered tax implications in more detail elsewhere on the site, so have a read of that page.
