Betting Companies to Deposit Jackpot Monies Into Fixed Bank Accounts

Interior and Coordination Cabinet Secretary Joseph Nkaissery has seemingly come to the rescue of the increasingly growing number of gamblers in Kenya.

Mr Nkaissery has now ordered lottery companies to deposit all jackpot monies into a fixed deposit account with a reputable bank. They are to also offer proof of the same to the Betting Control and Licencing Board for record keeping.

According to the Minister, the move is to allow for transparency and protect gamblers who are always in high hopes of hitting the jackpot.

“We have made it a requirement that all monies promised in form of jackpots have to be deposited in a fixed deposit account with a reputable bank and evidence of the same forwarded to the Betting Control and Licensing Board for record,” the CS said.

Nkaissery noted that the firms ought to publicly conduct the draws to ensure they are fair, random and honest.

"To this end draws ideally be done in public either by use of a ball machine or an electronic draw machine using a random number generator. Each draw should be conducted under the constant vigilance of a representative from the board, external auditor and officials of the lottery operator," he pointed out.

He further instructed the firms to advice customers on responsible betting while advertising.

Members of Parliament led by Gem's Jakoyo Midiwo have been at the forefront proposing laws to regulate betting which is now a multibillion business in Kenya.

In his latest proposal, Mr Midiwo is seeking to have betting firms barred from advertising in print and electronic media.

"No person shall conduct in Kenya, in or through any newspaper or broadcasting, or in connection with a trade or business or the sale of which any article to the public a competition in which prizes are offered for broadcasts of result either of future event, or of past event the result of which is not yet ascertained or not yet generally known," Midiwo stated.

Those who contravene the proposed changes to the law will face fines ranging from Sh1 Million and Sh4 Million, up from the current Sh3,000 or imprisonment for a term not exceeding three months or both.