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Kenyan Youth Lured into Betting, Crypto Currencies Amidst Job Scarcity

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Nyakundi Report

Newsroom 1 min read

This archive report was first published on 19 December 2019.

Kenya's high unemployment rate has pushed many young people into seeking alternative means of earning a living, with some turning to betting and virtual currencies as a way to make quick money.

According to a 2017 Geopoll survey, 76% of Kenyan youth have participated in gambling or betting, the highest percentage in sub-Saharan Africa.

With the rise of smartphones, internet penetration in Kenya has reached 84%, more than triple the East African average of 32%, making it easier for betting sites to attract clients.

Despite efforts by leaders such as Interior Cabinet Secretary Fred Matiang'i to reduce the growth of betting, the industry continues to thrive, with 11 out of the top 20 Google search queries by Kenyans being related to betting.

Kenya is the third-largest gambling market in Africa, after South Africa and Nigeria, with the majority of bettors being young people aged 18-36 years.

Alarmingly, 17% of those who lose bets consider suicide as a way out, while 8% turn to alcohol and drugs, and 6% accumulate huge debts from stakes.

As Dr. Matiang'i noted, '54% of Kenyans involved in betting are from low-income brackets and have been blacklisted by lending agencies due to their inability to pay back loans taken to place bets.'

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