Government introduces new 10% tax on betting and lottery winnings

06 April 2023 at 15:32

Nigeria-sports-betting

The new tax has been widely criticised by young Ghanaians on social media, many of whom are involved in betting.

The betting industry in Ghana has seen tremendous growth in the last decade, leading to many betting companies setting up shop in the country.

🚨 Ghana 🇬🇭 has introduced a new tax for betting, games of chance and lottery. Tax will be 10% on all winnings.

Betting companies will also have a 20% tax on all revenue. pic.twitter.com/SVWQLhgh4v
— Gary Al-Smith (@garyalsmith) April 5, 2023

In recent years, sports betting has often divided opinion among Ghanaians, with some quarters highlighting its effects on the youth.

Others also believe betting is legal and therefore cannot be described as a bad practice when no laws are broken.

Some time ago, GH One newscaster Serwaa Amihere came under fire for suggesting sports betting was becoming a national crisis.

Taxation is crucial for government revenue, but the 10% tax on all bets may harm Ghana’s youth who already face economic challenges. Many young people rely on betting due to the lack of job opportunities, taking 10% from our betting earnings seems unfair.
— GameAnalyst 𓃵 (@GameAnalyst3) April 6, 2023

Dancehall artiste J. Derobie is also on record to have said that sports betting is good and has saved many youths from engaging in armed robbery.

The singer maintained that sports betting was a means of survival for many young men who could otherwise have been involved in other social vices.

The new tax means 10% of all winnings by punters will go to the government of Ghana.

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