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Kenyans cut back on betting as taxes, inflation bite
Betting is down across age groups, but still more common among younger people. 14.3 percent of 18-25 year olds currently bet, with 13.4 percent considering it a good source of income.
The number of Kenyans engaged in betting has thinned since 2021 amidst new taxes targeting gains from gambling activities and an inflated cost of living cut people’s appetite in the industry.
Only 11.2 percent of Kenyans are currently engaged in betting, a drop of 2.7 percentage points from the 13.9 percent recorded in 2021, according to a new report by the Central Bank of Kenya (CBK), Kenya National Bureau of Statistics (KNBS) and the Financial Sector Deepening Trust (FSD) Kenya.
