New entrant in Kenyan betting industry BetLion has launched a Sh350 million jackpot, overtaking rivals SportPesa and Betin Kenya on the size of the prize money at stake.
The firm, backed by British tycoon Victor Chandler, Monday unveiled the jackpot dubbed ‘BetLion Goliath Jackpot’ that will see bettors who correctly predict the outcome of 20 games win the prize money using Sh100.
BetLion's prize money beats that of SportPesa’s mega jackpot, currently at Sh156.14 million.
It is also above Sportpesa’s largest payout of Sh230 million that was awarded to Gordon Ogada last year for using Sh100 to correctly predict the outcome of 17 games.
BetLion says it will also reward gamers who correctly predict 19, 18 and 17 games with Sh5 million, Sh1 million and Sh500,000 respectively.
Spencer Okach, the BetLion managing director, said the firm will continue innovating to net more customers.
“When we launched in Kenya, we did promise a product that is not only exciting but also rewarding,” he said.
BetLion’s jackpot is similar to Betin Kenya's, with the amount of money to be won fixed every week.
That of SportPesa grows week-on-week if no player wins the amount on offer.
BetLion launched its operations in Kenya on December 13 last year with the backing of the British billionaire businessman, Mr Chandler.
The 67-year-old businessman built up the famous gaming firm BetVictor, which is now the official training kit sponsor of English Premier League giants Liverpool, before selling it in 2014.
Kenya has witnessed a rapid growth in online gambling and the government tax targets from betting estimates the sector's annual sales at more than Sh36 billion.
New betting taxes approved by President Uhuru Kenyatta on September 21 demand that those who bet cede 20 percent of their winnings.
This means the State will be getting Sh70 million from BetLion’s jackpot winners.