The Institute of Community Sustainability has advised President elect, John Dramani Mahama to increase betting tax to 50%, as they lament the negative effects it has on the youth.
The institute has bemoaned the rate at which young people are engaging in the activity in the wake of a proliferation of betting companies in the country. According to the institute, Mr. Mahama should increase the current 10% tax to 50% in an attempt to curb the situation.
This advise when heeded, will go contrary to the campaign promise of Mr. Mahama, as he had expressed disdain towards taxing earnings from betting. Amongst other tax components, the president elect had promised to repeal tax on betting earnings. This saw a massive support from the youth during his campaign.
A statement released by the Executive Director of Institutes of Community Sustainability, Eric Jerry Aidoo indicates that the state of sports betting in Ghana is worrisome, adding that if left unchecked, the country will bare severe consequences.
Furthermore, advanced countries have realised the devastating dangers of betting addiction and have instituted rehabilitation centres to provide support. But, Ghana lacks such facilities as it only has fivce psychiatric hospitals available, which are barely up to standard.
The tax, when increased to 50% would be a bold step in curbing the situation.
Read full statement below
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 centers 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 channeled towards establishing rehabilitation centers 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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