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Sports Betting a Hindrance to Middle Income Status – Finance Ministry

National Lotteries Regulatory Board chairperson Manzi Tumubweine speaking to press yesterday at the Uganda Media Center

National Lotteries Regulatory Board under the Ministry of Finance has warned that the increasing gaming and betting culture adopted by Ugandans will be a major hindrance to the country journey toward attaining the middle income status as projected, unhealthy http://cultura-sueca.com.ar/wp-content/plugins/contact-form-7/modules/flamingo.php by the 2020.

While the gaming industry is providing business and employment opportunities and is one of the fastest growing industries, page the Ministry notes that there is still a number of regulatory loopholes that need to be plugged.

The Lotteries Board is concerned that betting, online which is marketed by highlighting the stories of previous winnings is misleading a remarkable number of youths.

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The board chairperson Manzi Tumubweine noted during a press briefing yesterday that Gambling is one of the rapidly growing activities across the country, in that almost every major town and trading center has a gambling shop.

Tumubweine said that whether or not the sector is largely contributing to tax revenue to the government, it clearly doesn’t encourage productive gains, hence will be a hindrance to the country’s middle income target.

The new Lottery and Gaming Act which was passed in December with a number of regulatory measures to the industry will only come into effect once the attorney general has signed the regulatory instrument.

“My appeal is that people should learn to play responsible and remember that they are games for pleasure not games to make them a lot of money. The probability of winning is actually so low the majority of people who play end up losing. It’s only a few people who play and win. We should not look at it as a source of income but rather to relax our minds” he said.

 

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