GhArticles.com Every News in Detail
The Institute of Community Sustainability has raised concerns about the growing prevalence of sports betting among Ghanaian youth, describing it as a threat to their well-being and productivity. The organization has urged the incoming administration of President-elect John Dramani Mahama to consider raising the betting tax from the current 10% to 50% as a measure to curb this alarming trend.
In a statement released by its Executive Director, Eric Jerry Aidoo, the Institute highlighted the harmful cycle many young people face, where they spend significant amounts of time and money on betting, often losing half or more of their earnings.
“This vicious cycle of betting and losing is draining the financial resources of our youth, eroding their productivity and potential,” the statement noted.
The Institute warned of dire societal consequences if this trend is not addressed. These include an increase in crimes such as robbery to fund betting habits, financial instability among employees who spend salaries on gambling, and reduced productivity in workplaces.
During his campaign, President-elect Mahama pledged to abolish the 10% tax on betting winnings, alongside other levies like the e-levy and COVID levy, as part of his broader economic reforms.
He stated, “In the first 120 days in office, we will hold a national economic dialogue to draw up a four-year fiscal consolidation plan. We would rationalize taxes, abolishing among others the obnoxious e-levy, the COVID levy, and the 10% levy on bets winning.”
However, the Institute believes that removing the betting tax would worsen the problem and has instead called for its significant increase to address the betting addiction among youth.
The Institute of Community Sustainability proposed that the revenue from a higher betting tax could be used to:
- Establish Rehabilitation Centers: These facilities would provide treatment and support for individuals struggling with gambling addiction, a practice already adopted in some advanced countries.
- Deter Betting: By making sports betting more expensive, the tax increase could discourage young people from engaging in it.
- Invest in Youth Productivity: Redirecting funds to programs that promote education, skills development, and entrepreneurship could offer youth alternative, productive pursuits.
The statement concluded with a passionate appeal to the new administration to take bold steps to address what it described as a “betting epidemic.”
“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 ensure that Ghana does not become a nation of gamblers,” the Institute urged.
