Government Seeks Public Views on Planned National Lottery Bill
NAIROBI, Kenya, April 12 – According to local media reports, the Kenyan Government seeks to collect views from members of the public through the new National Lottery Bill 2023.
Kenya’s Capital Business reports the Bill calls for the establishment of a National Lottery Board (NLB) that will manage and operate the country’s lottery ecosystem.
Through this, NLB will operate and manage the national lottery, procure an operator to manage the national lottery, and establish the National Lottery Fund (NLF) to prudently distribute the funds.
“The main purpose of a national lottery is to support good causes and improve the quality of life of citizens through identified good causes, through the proceeds of ticket sales and taxation of winnings the government generates revenue to support various public initiatives or programs and to promote responsible gaming,” the Bill stated.
Kenya has an estimated betting market size of Sh200 billion and is reported to be the 3rd largest gambling market in Africa after South Africa and Nigeria.
The East African market is, however, expected to continue to grow at a compounded annual growth rate of 7.5 percent between 2020 and 2025, in part due to the growing popularity of online and mobile gambling.
Revenue proceeds from the national lottery propose 50 percent prizes and tax for prizes, 38 percent to the national lottery fund, and 10 percent operator profit, tax, retailers, marketing, and operating costs.
Another one percent will go to the National Gambling Regulatory Authority, while 0.5 percent will go to National Lottery Board operations and 0.5 percent to NLF operations.
In the proposed law, the Betting Control and License Board shall transition to the Gambling Regulatory Authority. However, existing gambling licenses issued under the repealed act will remain valid during the licensed period.
SOURCE: Capital Business.Tags: National Lottery Board (NLB), National Lottery Fund (NLF), Kenyan Government, National Lottery Bill 2023