Play abroad to avoid withholding and excise duty on your gambling stakes and winnings

Are you an avid punter and are you tired of the over taxation currently happening in Kenya?Have you been asking yourself what alternatives are there?

One of the main options at your disposal is gambling overseas.The internet is a magical thing and it has truly created a global village and has removed the confines of geographical seclusion.With an internet connection and a bank debit card you are able to access any goods or service across the global.

The same applies to gambling.With the closure of the mighty three sports betting firms in Kenya namely sportpesa,betin and betpawa and the introduction of these ridiculous taxes that border on theft many punters have been dissuaded from betting.

There is however light at the end of the tunnel for firms link bet365 and even sportpesa in the UK have a global reach and offer to all a betting platform that can be accessed easily on the internet and all you need is a debit account to be able to deposit or withdraw funds.

If you are concerned about the security of your bank account and fear that some Nigerian somewhere is phishing for your monies,fear not as these sports betting providers work with intermediary payment platforms such as neteller and skrill who provide you with a fence around your precious money and are the ones that will be undertaking the payments as opposed to direct payments from your bank account.

Additionally these foreign,well established,highly capitalised firms offer better odds and a wider array of betting markets that you can take advantage of.

The only major limitation that we have noted is that betting platforms such as bet365 require a minimum deposit of USD 10 which is KES 1000 in order to allow you to bet but once you have made this deposit you can stake as low as $1 or KES 100.

When you win you get your total winnings less the cost of transferring funds back to your bank which costs on average around 2.5% of the amount.For those punters who have figured out a working formula and are profitable but were dependant on the local firms,this might be the way to go for now until we figure out where the chips will fall as with regards to GOK and the taxman