Betting is thrilling, but taxes can ruin the fun. In Kenya, two taxes are deducted when you bet:
- 12.5% Excise Tax: This is deducted from your stake before placing a bet.
- 20% Withholding Tax: This is taken from your winnings when you win.
Combined, these taxes take a significant chunk of your betting money. But with Bangbet, you can bet and win tax-free! Let’s break down how much you save with Bangbet.
Understanding the Tax Deductions
Excise Tax (12.5%)
This tax applies directly to your stake. For example:
- If you place a bet of Ksh 1,000, 12.5% (Ksh 125) is deducted.
- This means your actual bet is only Ksh 875, not the full Ksh 1,000.
The excise tax reduces the amount of money you can wager, lowering your potential winnings.
Withholding Tax (20%)
This tax is deducted from your winnings. For example:
- If you win Ksh 10,000, 20% (Ksh 2,000) is deducted.
- You take home only Ksh 8,000 instead of the full amount.
Now imagine both taxes being deducted. It’s no surprise that many bettors feel their hard-earned money is slipping away.
How Bangbet Saves You Money
Bangbet offers tax-free betting, which means:
- Your full stake is placed—no excise tax.
- Your winnings are not reduced—no withholding tax.
Let’s compare the difference between Bangbet and platforms that deduct taxes.
Example 1: Betting Ksh 1,000 with 3.0 Odds
On Other Platforms
- Stake deduction: Excise tax of 12.5% reduces your stake to Ksh 875.
- Potential winnings: Ksh 875 × 3.0 odds = Ksh 2,625.
- Winnings deduction: 20% withholding tax on Ksh 2,625 = Ksh 525.
- Your final payout = Ksh 2,100.
On Bangbet
- Stake deduction: No tax; your full stake of Ksh 1,000 is placed.
- Potential winnings: Ksh 1,000 × 3.0 odds = Ksh 3,000.
- Winnings deduction: No tax; you keep the full Ksh 3,000.
You save Ksh 900 and enjoy bigger winnings with Bangbet.
How Much Do You Save Over Time?
Let’s calculate your savings if you bet consistently over a month. Assume you place daily bets of Ksh 1,000 at 3.0 odds and win 10 times during that month:
On Other Platforms
- Excise tax on daily stakes: Ksh 125 × 30 days = Ksh 3,750.
- Withholding tax on winnings: 20% of Ksh 2,625 = Ksh 525 per win.
- For 10 wins: Ksh 525 × 10 = Ksh 5,250.
- Total deductions: Ksh 3,750 + Ksh 5,250 = Ksh 9,000.
On Bangbet
- Excise tax: Ksh 0.
- Withholding tax: Ksh 0.
- Total deductions: Ksh 0.
Savings with Bangbet: Ksh 9,000 in just one month!
Why Tax-Free Betting Matters
Keep More Money
With Bangbet, every coin you bet and win is yours. You keep 100% of your money.
Boost Your Betting Power
No excise tax means you can stake your full amount. A Ksh 1,000 bet remains Ksh 1,000. This increases your potential returns.
Bigger Winnings
Without withholding tax, your winnings are not reduced. You enjoy the full payout you deserve.
More Opportunities
By saving money on taxes, you have extra cash for more bets. This increases your chances of winning even more.
Annual Savings with Bangbet
Imagine you’re a regular bettor placing Ksh 1,000 bets daily for a year. You win 50 big bets during that time. Here’s what happens:
On Other Platforms
- Annual excise tax: Ksh 125 × 365 = Ksh 45,625.
- Withholding tax on 50 wins (Ksh 2,625 per win): Ksh 525 × 50 = Ksh 26,250.
- Total tax deductions: Ksh 45,625 + Ksh 26,250 = Ksh 71,875.
On Bangbet
- Total tax deductions: Ksh 0.
You save Ksh 71,875 in one year with Bangbet!
Why Choose Bangbet?
Bangbet is the ultimate platform for smart bettors. Tax-free betting means you maximize your returns and minimize losses. Don’t let taxes take what’s yours.
Start betting with Bangbet today and enjoy bigger wins, better odds, and zero deductions. Betting has never been this rewarding!