A number of Ghanaian youths who engage in sports betting are unable to comprehend the rationale behind the proposed levy taxes on lottery and sports betting.
Government plans to take a 10% withholding tax from winnings in lotteries, sports betting, and games of chance at the point of payout.
According to some bettors, government should rather encourage sports betting and the judicious use of the returns made to help grow the economy.
They noted that should more businesses be created and consumption increase from the monies earned, it will translate into more taxes for the government in the near future.
“Somebody can use GH100 and win GH50,000. You can use that money to establish yourself. So the government should rather pray for us to win and use the money wisely so they can rather tax that,” a bettor told Ghanaweb.
For another, it is just unfair for government to take a portion of his winnings when he bears the losses alone.
“If I try throughout the month and I win just once, it means I lost more than what I win. If I lose GH1000, I can win GH500. If you take 10% out of it, am I making gains or loss,” Kofi (not his real name) said.
Source: The Independent Ghana