We have failed for allowing the youth rely on bets as means of survival – Ken Agyapong

Flagbearer aspirant of the ruling New Patriotic Party (NPP) Kennedy Ohene Agyapong, has expressed his concerns about the growing reliance of Ghanaian youth on sports betting as a means of survival.

In an exclusive interview with Happy 98.9 FM’s Sefah Danquah, the Member of Parliament for Assin Central criticized the failure to provide sufficient job opportunities for the youth, which has led them to turn to betting for income.

The government recently introduced a new tax on winnings from lotteries, gambling and other games of chance. That is, 10% of all winnings will be subject to tax, which will be imposed on domestic rivals. Additionally, there would be a 20% tax on the profits of betting companies doing business in the nation.

According to Ken Agyapong, he would have increased the betting tax from the current 10% to 30%.

“We have failed by creating the avenue for the youth to rely on sports betting. We should rather create job opportunities for the youth and for me, I will increase the 10% betting tax to 30% as a punitive measure to discourage the youth on relying on bet. But I will not say much about it for now because we have not been able to create jobs for the youth”.

The seasoned politician drew a comparison with the United States, where a 40% tax is imposed on lottery winnings, emphasizing the need for discipline and alternative income sources for the youth.

Ken Agyapong expressed his unwavering commitment to prioritizing the welfare of the country over political considerations, stating, “I don’t fear votes and the misconceptions people put out there.”

He continued to highlight the dangers of steering Ghanaian youth towards sports betting as a primary means of survival, recognizing that the lack of job opportunities contributes to this phenomenon.

He added that with the availability of jobs, approximately 80% of the would abandon gaming and betting.

Ken Agyapong underscored the potential benefits of his proposed betting tax increase, explaining that it would not necessarily deter betting but would generate more revenue for the government

“The tax I will put on betting will not prevent them from doing it but will make more revenue for the gov’t that is why I used America as an example. The tax they get from betting is what they use to build schools and the health sector. The money gotten from betting is easy money and everywhere the tax is so huge on it but I don’t know why it was free in Ghana here”.

Meanwhile, many Ghanaians have expressed their displeasure with the government’s decision, highlighting concerns about the economic burden this tax could impose on individuals who engage in sports betting. The move has also been criticized as placing another burden on an already heavily taxed population.