SPORTS BETTING FIRMS NOW THE BIGGEST TAX-PAYERS IN TANZANIA, DISPLACING CASINOS

DAR-ES-SALAAM, Sports betting companies have surpassed casino operators to become biggest tax payers in Tanzania, according to information provided by the Gaming Board in response to questions submitted by the media.

Its data for past fiscal year showed that until 2015/16, casino gambling was a leading category but in 2016/17, sports betting took over the top spot. Sports betting are a form of gambling which entails placing a wager, also known as a bet, on the outcome of a sporting event.

The board's data showed that in the last financial year, sports betting contributed 17.9 billion shillings (about 7.97 million US dollars) in tax revenue compared with 9.8 billion shillings paid by casino operators in the same period, followed by SMS Lottery at 7.4 billion shillings, Slots Operations at 1.5 billion shillings and 40 Machine Site at 278.8 million shillings.

In the first two months of the current fiscal year -- July and August -- sports betting contributed taxes amounting to 1.12 billion and 1.84 billion shillings in taxes for the two months respectively out of a total of 2.9 billion and 4.5 billion collected from all gaming activities in the two months.

The information filed by the Gaming Board General Director showed that until October this year, a total of 18 companies had been registered as sports betting firms.

Source: NAM NEWS NETWORK