Home Business Bettors oppose 10% tax on bet wins – Citi Business News

Bettors oppose 10% tax on bet wins – Citi Business News

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Bettors are expressing displeasure at the government’s plan to levy taxes on lottery and sports betting.

As part of efforts to raise additional revenue for the country, government slapped taxes on income from lottery, betting and gambling.

According to several local bettors, the government’s move is an attempt to prevent them from enjoying their winnings in peace.

In an interview with Citi News, they urged the government to reconsider its plans to take a 10% withholding tax from winnings in lotteries, sports betting, and games of chance at the point of payout.

“I could lose all my bets in a year so if I should win one day and then 10 percent is deducted, it actually means that I have lost.”

“Honestly, it is not fair. We are suffering because the system is not any better so taking away 10 percent of my bet wins is not a good thing”, another said.

For one of the gamblers, “This policy of taxing our fortunes in betting is not in our interest. 10 percent of our wins is too much for us. “

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