The Betting Control and Licensing Board (BCLB) has come out to set the record straight after reports emerged that Kenyans were wasting hundreds of billions on sports gambling.
A local newspaper recently carried a story highlighting how betting was taking a toll on the public, indicating that close to a trillion shillings were harvested by the gaming firms in 2024.
The publication expressly indicated that at least KSh 766 billion was spent by the gamblers.
Weighing in on the matter, the BCLB dismissed the findings as a "myth".
The board established that the media deliberately inflated the figures, perhaps to drive a narrative.
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According to the agency, the betting sector has been growing and is projected to generate KSh 20 billion only in 2025, a far cry from the KSh 766 billion estimation.
The BCLB suspects that the publication might have included other unregulated offshore platforms.
"Debunking the KES 766 Billion Myth Recently reported in the media, it was claimed that Kenyans spent KES 766 billion on gambling in 2024, a figure roughly equivalent to 31 percent of national revenue. The sensational figure inaccurately inflates the size of the regulated market, likely by including offshore (unlicensed) platforms," it said.
The BCLB lamented that such reportage would mislead policymakers and the public on the economic reality of licensed gaming firms.
Whilst the story sought to sow negativity, the BCLB recognised the impact the gaming platforms have had.
"The industry directly employs over 10,000 Kenyans, supports over 500,000 livelihoods indirectly, and contributes substantial amounts in community projects under corporate social responsibility (CSR)," the agency said.
