web analytics
News

Uganda To Nationalize Its Gambling Industry

Uganda To Nationalize Its Gambling Industry
Uganda To Nationalize Its Gambling Industry

According to the reports surfacing in the local media, the government in Uganda is planning to nationalize the nation’s gambling industry.

It has been reported that the country’s finance minister Matia Kasaija has conveyed through a written letter to the National Gaming Board Uganda (NGBU) asking them not to issue any new license to gambling operators and also let the existing licenses expire without issuing renewal certificates. The letter also confirmed the government’s erstwhile stand on the state of gambling affairs.

Also, the government has made it clear that the country’s new policy is intended only for international gambling operators. The government in Uganda has brought in the new regulation for the overseas gambling operators who are carrying out gambling operations in the country, but a majority of their profits gets drained overseas.

The government in Uganda has been open about its restrictions on gambling operators. Also, the government has brought in stricter regulations for gamblers in Uganda. Ugandans participating in gambling activities are required to provide their government-issued identity cards and verify that they are above 25 years old. They are also required to register their phone numbers with the government’s central monitoring system.

Currently, the Ugandan-licensed operators pay 20% of their gross gaming revenue and are required to withhold 15% of gamblers’ winnings.

What could be termed as a significant policy shift, it is now clear that “the state would have the monopoly on at least sports betting activities countrywide.”

Please wait...
Bitcoin Casino

About the author

Harry Matthew

Harry Matthew

Harry serves as a resident reporter for Casino Buzz. He has been responsible for building the content base and forms the core reporting strategies for the website. Along with reporting, Harry is an amazing baseball player with good record at university level. He can be reached at hm@casino.buzz

Add Comment

Click here to post a comment

Official Partners

Bitcoin Casino

Sloto Cash Casino
⭐Weekly Free Spins Bonus Codes⭐👉Subscribe To Our Newsletter!✅

Get free spins bonus codes✅

Get new & exciting slots to play every week✅