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Pambazuka Lottery suspends Kenya operations over 35 per cent tax

George Miller

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Pambazuka Lottery suspends Kenya operations over 35 per cent tax

Pambazuka National Lottery has suspended its operations in Kenya saying the new tax takes it total cost of operations to 115 per cent.

 

“Operating any lottery under this framework is not possible and therefore business operations are forced to close,”the company said in a statement on Sunday.

The company noted that the effect of the 35 per cent tax on all tickets sales has made them to cease operations  until a “sustainable regulatory framework” is in place.

“All prize claims after yesterday’s draw will be paid out to winners directly or from the company offices on April 7th 2018,” it added.

This came after Kenyan sports gambling firm Sportpesa withdrew all their local sponsorship commitments over the proposed tax of 35%.

Last year, President Uhuru Kenyatta finally signed Finance Bill 2017 and eight others into law.

The law raises the tax rate on gambling but sets it at a lower rate than had originally been proposed. It will impose a tax of 35 per cent of gross profits on all gambling.

Until now, lotteries were taxed at five percent, betting firms – bookmakers – at 7.5 per cent, casino gambling at 12 per cent and competitions like raffles at 15 percent.

The Finance Act seeks to amend the law relating to various taxes and duties. It also seeks to amend laws including:

The Betting, Lotteries and Gambling Act (Cap. 131) to increase the tax rates from the currents rates to 35 per cent

The Kenya Revenue Authority Act (Cap.469) to include newly introduced laws: Tax Procedures Act 2015, Value Added Tax Act 2013, Miscellaneous Fees and Levies Act 2016 and Excise Duty Act 2015 as part of laws administered by the Kenya Revenue Authority.

The Stamp Duty Act (Cap.480) to provide for tax neutrality for Islamic financial products to favourable compete with similar conventional products in Kenyan markets.

The Sacco Societies Act (Cap.490B) to define ‘deposits’ and ‘deposit taking sacco business’ to add principles of Islamic law to the Act as a form of recognition of Islamic saccos.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Africa

Editec partnering with BtoBet in Africa

George Miller

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Editec partnering with BtoBet in Africa

EDITEC, a leading sports betting, lottery and gaming operator in Africa, with a strong presence in twenty countries as well as offices across Europe and the Middle East, signs a partnership agreement with the multinational iGaming platform and Sportsbook provider BtoBet.

Online, EDITEC operates under the renowned brands of Premier Bet, SBA, Guinee Games, and R&S Betting and is one of the fastest growing online operators in a number of regions in Africa, already with a well-established retail estate and network of agents.

Alex Rutherford, EDITEC Head of Online, stated: “We were extremely impressed by the flexibility and functionality of the BtoBet platform and look forward to an incredible partnership which will push EDITEC’s brands to the next level and give our customers a truly exciting betting experience.

Commenting on the partnership, BtoBet’s Chairman Alessandro Fried reported: “The growing number of gamblers and the spread of mobile in Africa is indicating the need to adopt a suitable platform and fitting software to have the greatest insight into players’ data and behaviour in order to drive and manage the gaming business in the most efficient way. In this perspective, we are very proud to support EDITEC as a partner in Africa and to provide our technology and solutions, to increase the company’s revenues.

 

About BtoBet
BtoBet is a multinational company and is part of a group with 20 years of experience in software development in IT, finance, telecommunication, e-commerce and banking, strongly committed to technology and widely investing in technology research and development. The experience gained in these advanced environments, allows BtoBet to be visionary in the iGaming and Sports betting industry with a deep understanding of the requirements of the market, catching changing trends and anticipating bookmakers’ and operators’ needs. BtoBet is a true partner in technology, offering a standalone platform and services for the iGaming and Sports Betting industry. It counts on a very talented, continuously trained development team and day to day management support to clients. BtoBet allows licensees to be unique in the market, by giving them the opportunity to completely personalise their offers for Sports betting and iGaming business, online mobile and retail. BtoBet has technical branches with large ever-growing teams of developers in Skopje, Ohrid, Bitola, Belgrade, Nish, Tirana, and Rome. Malta hosts the commercial and marketing centre.

About EDITEC
Founded in 1997, Editec has established a unique business model with headquarters in the UK, online IT centers in Sweden and Romania, hardware and distribution division in France as well as a satellite advisory office in Lebanon.
All divisions exist as separate entities to enhance efficiency and flexibility.
The retail division operates through an extensive network of local agents, franchising, betting shops, points of sale, mobile and online platforms. In total, there are over 650 shops and 55,000 points of sale providing lottery and sports betting services across its footprint. The retail operations in Africa provide employment to over 60,000 local people. In the upcoming year, Editec is seeking to open retail operations in three more countries.

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Africa

BtoBet and iSoftBet join forces to expand in new markets in Africa and LatAm

George Miller

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iSoftBet and BtoBet - Partnership

iSoftBet, a premium online and mobile casino game supplier – operating in Belgium, Italy, Spain, Portugal and Romania – and the sportsbook and iGaming platform provider BtoBet, fresh Sports betting innovator 2017 at the SBC awards, have successfully signed a partnership aimed at offering a wide range of exciting games to the ever demanding i-gaming players.

iSoftBet’s impressive portfolio of games that include exclusive branded content based on Hollywood films, famous TV series, unique original slots and excellent table games which will be fully integrated into BtoBet’s advanced, secure and flexible platform. The two companies are ready to expand in all regulated markets in Europe, Africa and Latin America, offering progressive technology, available in an HTML5 format, compatible with desktop as well as mobile.

Commenting on the partnership, iSoftBet’s Head of Business Development Michael Probert, stated:
We are always looking to increase the distribution of our games, and this deal with BtoBet helps us to enter new markets, in particular Africa and Latin America. While these markets are still evolving, we believe they offer huge potential for the iGaming industry as more countries move towards regulation. We aim to assist operators by providing them with our high-quality, top-performing titles through BtoBet’s advanced platform, who, in addition, understand the market and regulations in place very well”.

BtoBet’s Integration manager Maja Janevska highlighted: “Our robust platform and technological intelligence, combined with iSoftBet’s games provide operators the possibility to elaborate unique offers, tailored for every single market, integrating easily more than 3,000 games. Additionally, our sophisticated Recommendation engine enables operators to suggest players their preferred games, at the ideal time and on their preferred device. We also maintain progressive operation with true technology innovation and assure a close collaboration to achieve mutual satisfaction.

 

About BtoBet:

BtoBet is a multinational company and is part of a group with 20 years of experience in software development in IT, telecommunication, e-commerce and banking, strongly committed to technology and widely investing in technology research and development. The experience gained at the forefront in these advanced environments, compared with the more recent gambling industry, allows BtoBet to be visionary with a deep understanding of the requirements of the market, catching changing trends and anticipating bookmakers’ and operators’ needs. BtoBet is a true partner in technology, offering a standalone platform and services for the iGaming and Sports Betting industry. It counts on a very talented, continuously trained development team and day to day management support to clients. BtoBet allows licensees to be unique in the market, by giving them the opportunity to completely personalise their offers for Sports betting and iGaming business, online mobile and retail. BtoBet has technical branches with large ever-growing teams of developers in Skopje, Ohrid, Bitola, Belgrade, Nish, Tirana, and Rome. Malta hosts the commercial and marketing centre.

About iSoftBet:

iSoftBet is a premium online and mobile casino game supplier, providing games to some of the world’s largest and most successful iGaming operators. It is at the forefront of innovation and its tailor-made solutions are designed to meet customers’ needs. iSoftbet offers a wide range of unparalleled original video slots created in-house, exclusive branded games from some of the world’s largest TV and movie production companies. The iSoftBet games are built using progressive technology, and available in an HTML5 format that is compatible with desktop as well as mobile. It proposes online and mobile content from up to 30 additional game software providers to customers in one swift integration. iSoftbet is committed to responsible gaming and complies with the most stringent regulatory bodies in Europe. It is licensed in the UK and Alderney and distributes content in multiple regulated markets such as Belgium, Italy, Spain, Portugal and Romania.

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Africa

NairaBet selects Betgenius to drive in-play growth

George Miller

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NairaBet selects Betgenius to drive in-play growth

Betgenius, the leading supplier of sophisticated sportsbook technology to regulated bookmakers and lotteries, has been selected as the primary in-play trading partner of NairaBet, Nigeria’s pioneering sports betting brand.

 

The agreement will see NairaBet tap into Betgenius’ unrivaled in-play trading coverage across all major sports, including football and basketball, to deliver a premium live betting experience to its online and retail customers.

The long-term partnership marks a significant enhancement of NairaBet’s live betting product by giving its traders access to the fastest and most accurate pricing on the market, as well as greater control of its in-play trading strategy. 

Akin Alabi, CEO of NairaBet, said: “As competition grows in the Nigerian sports betting space, we at NairaBet made a decision to stand out from the crowd. One of the decisions we made was to partner with Betgenius to power our in-play markets. I am confident it will be a rewarding experience for both parties.’’

Matt Stephenson, Managing Director of Betgenius, said: “As one of Nigeria’s premier sportsbook operators NairaBet is leading the way in the growth of its in-play offering, building upon its own high quality in-house risk management team. The live betting trend is spreading across the African market and Betgenius is excited to bring our trusted product to many more partners in the region in the future.

Betgenius’ highly flexible, automated InPlay Manager and PreMatch Manager tools allow sportsbook operators to partially or fully outsource their trading function, offering hundreds of thousands of markets across all major sports. 

 

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