A Kenyan youth is currently spending 100 shillings (averagely) through betting per day. Pick a minimum of 1,500,000 gamblers who are already addicted to this evil game by the name of betting. Total ; they send 150 Million to the Sportpesa per day = 4.5 Billion per month.
Then the Sportpesa picks about 100 of them and sends an average of 10K to each. Total ; 1 million per day ; 30 million in a month.
Same Sportpesa will reappear at the end of the month and reward one ‘winner’ with about 200M. So the total expenditure in a month is 230 Million (in the context above). Directors of the said company will take home about 3.710 Billion per month. About 45.93 Billion in a bad year.
But wait! They are very generous. Very philanthropic.
They will donate kitu 80 Million to Gor Mahia football club, 135 Million to Harambee Stars and about 62 Million to some Rugby team. Per year.
They will also pay approximately 3 Billion to the taxman.
Meaning by December of every year, Directors of Sportpesa will have milked approximately 40 Billion (net) from pockets of poor gamblers.
Don’t forget, out of 1,500,000 gamblers,1, 499,000 did not win a coin that year. They are left poorer. With only an option of stealing their neighbors’ rabbits to sell and do more betting with a hope of winning next time.
I’m not an economist but hapa kwa betting hakuna akili.
Cc. Muthui Mkenya