Young Kenyans are spending a significant chunk of their monthly earnings on betting, a new report has shown, pointing to a deeply entrenched gambling craze.
A study conducted between July 12-14 by research firm Geopoll and Ipsos Kenya on youth revealed that Kenyans aged between 18 and 29 years spend about Sh1,550 on average on betting per month.
The survey also showed that 73 percent of surveyed Kenyans who were aware of a recent government suspension on the activity are still engaged in betting, while the profile of these Kenyan bettors was largely male, aged 25 to 34 years.
Kenya’s mobile-based sports betting industry has in the recent past recorded phenomenal growth aided by the ease of placing bets online or through SMS and paying via mobile money platforms such as Airtel Money and M-Pesa.
The survey is part of a series on Kenyan millennials in which GeoPoll and Ipsos Kenya seeks to understand the habits of the youth. The survey was done throughout the country and respondents were those who are aware of the government’s suspension on betting firms.
The survey says that bettors with a monthly household income of more than Sh77,000 are more likely to use the money they would use to bet on other items after the government imposed tough laws on the sector.
The reports also show that 35 percent of youth earning between Sh77,001 to Sh186,000 will now save their betting cash, 45 percent will use the budget on other items while 19 percent said they will continue betting.