The Institute of Community Sustainability has cautioned President-Elect John Dramani Mahama against scrapping the already imposed 10% tax on sports betting.
Mr Mahama during his campaign ahead of the 2024 General Election promised to remove some taxes imposed on the Ghanaian people among which include the 10% tax on sports betting.
In a press statement, the Institute of Community Sustainability urged the incoming administration to consider increasing the tax on betting to 50%. The organisation raised concerns against sports betting describing it as ‘pressing and threatening the well-being of Ghana’s youth.’
According to the Institute of Community Sustainability, the majority of Ghanaian youth spend an inordinate amount of time and money on betting platforms, with some staking 50% of their winnings only to lose it all again. The Institute posits that the vicious cycle of betting and losing is not only draining the financial resources of the youth but also eroding their productivity and potential.
“If left unchecked, this betting epidemic could have severe consequences for our society. Desperate individuals may resort to crime, such as robbery, to fund their betting habits. Companies may also suffer as employees squander their salaries on betting, leading to financial losses and decreased productivity,” the statement outlined.
The Institute of Community Sustainability believes that increasing the tax will deter the youth from staking repetitively and eradicate addiction.
Below is the press statement by the Institutes of Community Sustainability
Increase Betting Tax to 50% to Protect Ghana’s Youth-Institute of Community Sustainability.
As the new government takes office, the Institutes of Community Sustainability wishes to bring to their attention a pressing concern that threatens the well-being of Ghana’s youth. The proliferation of sports betting, particularly among young people, has reached alarming proportions. We urge the government to consider increasing the betting tax to 50% to curb this menace.
The current state of sports betting in Ghana is worrisome. Many young people are spending an inordinate amount of time and money on betting platforms, with some staking 50% of their winnings only to lose it all again. This vicious cycle of betting and losing is not only draining the financial resources of our youth but also eroding their productivity and potential.
If left unchecked, this betting epidemic could have severe consequences for our society. Desperate individuals may resort to crime, such as robbery, to fund their betting habits. Companies may also suffer as employees squander their salaries on betting, leading to financial losses and decreased productivity.
In contrast, advanced countries have recognized the dangers of betting addiction and have established rehabilitation centres to provide support and treatment to affected individuals. Unfortunately, Ghana lacks such facilities, with only five psychiatric hospitals available, which are not even up to standard.
Increasing the betting tax to 50% would be a bold step towards addressing this issue. The revenue generated from this tax could be channelled towards establishing rehabilitation centres and providing support services for individuals struggling with betting addiction.
Moreover, a higher betting tax would also serve as a deterrent to young people who are tempted to indulge in sports betting. By making betting more expensive, we can reduce its appeal and encourage our youth to seek more productive and fulfilling pursuits.
In conclusion, we urge the new government to take decisive action to address the betting epidemic that is sweeping our nation. Increasing the betting tax to 50% is a necessary step towards curbing this menace and protecting the well-being of our youth. We owe it to ourselves, our children, and our country to take action and ensure that Ghana does not become a nation of gamblers.
Hon.Eric Jerry Aidoo
Executive Director
Institute community sustainability
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