Crypto 24 / 7 News

Tame increased betting to save youth from addiction, laziness Thursday December 19 2019 In Summary Youth, especially those aged 18-25 years, get addicted to it without realising it, only to have a hard time trying to quit.
Lack of jobs has pushed Kenyan youth into trying to find a way to make money in non-conventional ways in order to provide for themselves and their families, hence ending up being lured by lucrative offers from betting companies or engaging in the ‘mining’ of crypto currencies, or virtual money.
Increased access to the internet, made possible mainly by smartphones, has fuelled the popularity of betting.
The “We Social Report” puts internet penetration in Kenya at 84 per cent, almost triple the East African average of 32 per cent.
Despite various leaders, such as Interior Cabinet Secretary Fred Matiang’i, and organisations trying to reduce the growth and spread of the habit, betting sites continue to receive a huge inflow of clients.
An annual report by Hootsuite says about 11 out of the top 20 Google search queries by Kenyans were about betting.
According to auditors PricewaterhouseCoopers (PwC), Kenya is the third largest gambling market in Africa, after South Africa and Nigeria.
FREQUENCY
With the high numbers, the government cannot control or ban gambling, which is said to force the youth into making bad financial decisions by investing all their money in the game.
A 2017 Geopoll survey reports states: “About 54 per cent of youth in sub-Saharan Africa have tried their hand in gambling.Kenya has the highest number of youth who have participated in gambling or betting in the past, at 76 per cent, followed by Uganda at 57 per cent.”
In Kenya, the betting frequency is once a week while in other countries it is once a month, which brings about the suspicion that the local youth are becoming gambling addicts.
Before they pulled out of Kenya late this year, SportPesa and Betin were the leading betting sites, attracting a large number of young gamblers because of their high winnings of up to hundreds of millions of shillings.
About 70 per cent of those who bet are young people aged 18-36 years, with men making 74 per cent and women at 26 per cent.
This shows that the youth spend most of their online time in the numerous betting sites that come up every day.
ADDICTION
Among Kenyans who lose bets, 17 per cent consider suicide as a way out, eight per cent turn to alcohol and drugs and six per cent have huge debts from stakes.
“Fifty-four per cent of Kenyans involved in betting are from low-income brackets and have been blacklisted by a majority of lending agencies because they borrowed to place bets and cannot pay because they lost,” Dr Matiang’i was quoted as saying.
Gambling is addictive, just like a drug.Youth, especially those aged 18-25 years, get addicted to it without realising it, only to have a hard time trying to quit.
If the youth could earn their money through working, it would lower the number of gamblers.
Leah Akoth Nyawara, Anthony Karanja, Tabitha Mwemba, Anthony Gitonga and Marvel Ochieng – Nairobi In the headlines.