As the sports betting wave continues to engulf the country, one of the local betting companies has now resolved to venture into politics.
In addition to betting on sporting activities, mCheza will be seeking to cash in on the upcoming US elections pitting Democratic Candidate Hilary Clinton against Republican Donald Trump.
Speaking on Monday, the firm’s CEO Peter Karimi noted that the unique offering will debut during the US elections and gamblers will have the opportunity to predict the outcome of the election.
This comes even as contention rages on over the huge income being raked in by the firms.
Last week Members of Parliament passed a Bill that would ensure part of the billions the industry makes annually go into funding the Budget.
“This Bill is meant to discourage gambling. Either we gamble and pay huge taxes so that we build roads and provide better healthcare (or stop),” Majority Leader Aden Duale who was pushing the bill sponsored by the Executive said.
Following the new law, betting firms will be paying to the taxman 7.5 percent of their revenue by the 20th of each month after paying out winnings, while lotteries will pay 5 per cent of their turnover by the same deadline.
Gaming companies will be required to hand in 12 percent of their revenue after paying out winnings.