Socio-economic impact of gambling in Uganda

Despite of the negative socio-economic effects ignited by the gambling sector in Uganda, the youth are setting up businesses to safeguard themselves against addiction.

As noted by Fahad Luyzburg, in E-playafrica.com:

gambling is a fairly regulated sector in Uganda. Thus, there are checks and balances on the excess of activity. Apart from social-economic impacts, youths who have earned proceeds from gambling have set up businesses to safeguard themselves and others against addiction.

The fairly regulated gambling industry set in place by the government to control betting activities has so far made a positive impact on the country’s tax revenue. A report indicated that as more young Ugandans place bets on a different sport, there has been an increase in the tax generated from the gaming industry and this has boosted the economy’s revenue especially after the negative implications the pandemic had on businesses. 

With betting companies establishing their entities in the country as the number of punters increases daily, the economy has had positive growth. A research carried out by Global Advanced Research Journal on the socio-economic impacts of sports bets showed that at least 84% of Ugandan youths partake in gambling activities, most of who are within the age 30 years and below.   

The gambling industry has also improved employment opportunities amongst the youths, as many online operators are setting up betting shops in different areas within the country, some of the proceeds from wagers placed are used to transform the Ugandan soccer league through sponsorship deals with clubs, and with at least 20 Ugandan football players in different leagues in Europe, punters can place bets on games they derive entertainments from. 

SiGMA website adds French as its 6th language:

SiGMA Group is excited to announce the addition of a 6th language to its website. Users can now find all content, including the SiGMA News website, in French. The latest addition to SiGMA’s portfolio of languages will run alongside the recently launched Russian, Mandarin, Spanish, and Portuguese content, and aims to cater to SiGMA’s wide portfolio of international events.