You have less than 24 hours to withdraw money from your betting wallets

By Vincent Kejitan | Friday, Jul 12th 2019 at 09:50
Share this story:

Gamblers have less than 24 hours to withdraw money from their betting wallets.

This is according to a letter from the Ministry of Interior and Coordination of National Government to telecommunication companies dated July 11, 2019.

“This is to permit you to allow gamers of the subject firms to withdraw any funds they may have deposited in the material period within Forty-Eight (48) hours from the date hereof, and duly notify them of the same, quoting this letter as authority,” wrote Liti Wambua, the acting director of the regulator Betting Control and Licensing Board (BCLB), to Safaricom.

The letter further states: “The licenses of operators were not renewed for the period 1st July 2019 to June 30th, 2020.”

Safaricom had requested the board to give gamblers time to withdraw their money since shutting down the paybill number without notice would expose them to legal action.

Top betting firms yesterday denied any wrongdoing and maintained that they have met their regulatory requirements even as their push-and-pull with the Government continues.

The State on Wednesday evening struck at the heart of 27 betting firms, ordering telcos to shut down their paybill numbers and short codes until their licences are renewed.

Sportpesa Chief Executive Officer Ronald Karauri said the company is an astute corporate entity that has paid all its taxes.

“We continue to address the license matter with industry stakeholders,” Karauri said in a statement.

“In the meantime, the High Court has issued an order that allows Sportpesa to continue operations uninterrupted until the matter is resolved. Therefore, all our paybills and other services remain operational.”

Betin, another major betting firm, said in a statement that any interruptions to the firms' operations would be catastrophic for the country.

This is given the thousands of jobs that would be lost and taxes missed.

“As a company, have paid almost Sh3 billion in taxes since 2018," the firm wrote.

Share this story:
Other related topics:

Latest Stories