Ghana Bookmakers

Ghana, a West African country situated on the northern part of the Gulf of Guinea and attained its independence in 1960. Since the inception of gambling industry especially Ghana bookmakers and Ghana sports betting, Ghana’s legislation and regulatory frameworks have been gradually developed to contain the industry. This article explores the specific context of Ghana bookmakers and discusses the legal framework for gambling, the authorities, types of permits, taxes, and the growth of sports betting.

Ghana Bookmakers

1960: Gambling regulation and achieving independence.

1992: Football the Olympic bronze.

2006: Gaming Act permitted the online gambling.

2010: First time in the Winter Olympics as a country.

2023: New taxes which have been implemented under the Income Tax Amendment Act.

History of Gambling Legislation

The legal gambling was introduced in Ghana when it gained independence in 1960 copying from the British laws on gambling. The procedure was kick started by the Lotteries and Betting Act of 1960. But as the industry grew and developed new rules were required to be in place.

In 2006, the Ghanaian government enacted the Gaming Act (Act 721) which gave a contemporary legal structure for gambling including on the internet gambling. This legislation was rather a big step as it covered both the land-based and the interactive gambling sectors and created the Gaming Commission of Ghana as the regulating body.

Key Legislative Milestones

  • 1960: Ghana got its independence and laid down the law of Lotteries and Betting.
  • 2006: The Gaming Act of 2006 was enacted and made provisions for online gambling as well as putting in place the Gaming Commission of Ghana.
  • 2023: Act 1094 of 2023 known as the Income Tax Amendment Act added new taxes on the gaming industry which are the 20% Gross Gaming Revenue Tax and a 10% tax on winnings.

Regulatory of Ghana Bookmakers

The Gaming Commission of Ghana is the body that has the mandate of regulating, controlling, monitoring and supervising all forms of gambling in Ghana. It authorises gambling operators, regulates the gambling activities, and promotes adherence to certain standards. Other key agencies include:

  • National Lottery Authority (NLA): Cap 12:02 – The National Lotteries Act. Accelerates the management of national lotteries.
  • Ghana Revenue Authority (GRA): Supervises in the collection of taxes as well as taxes concerning gambling and other related activities.
  • Bank of Ghana (BoG): Responsible for the supervision of financial transactions that are connected with gambling.

Kinds of Permits and Charges

Under the Gaming Act, the Gaming Commission identifies five classes of gaming licenses:

  • Class One License: The different operations in a casino.
  • Class Two License: Sports betting: as in land based, online, or both.
  • Class Three License: Rout operations.
  • Class Four License: Marketing games and remote gaming such as bingo.
  • Class Five License: Casino on the go or also known as mobile/ interactive gaming.

License Requirements and Duration

In order to acquire a gaming license, the company needs to be registered in Ghana, have the initial investment of a certain amount and pass the check of the directors’ Criminal Records. The specific license approval usually takes two to three months to process. All the gaming licenses are issued for a period of one year and one can renew the license every year on payment of renewal fees.

License Fees

  • Casino License: Depends on the level of the business operations; small, medium or large scale.
  • Sports Betting License: This is the minimum capital that must be put into the business to start it up, that is, $2,000,000.
  • Other Licenses: The fees are charged according to the kind of gaming and the extent of the operations to be conducted.

Taxes on Gambling Activities

Act 1094, Income Tax Amendment Act 2023 has brought some major changes to the taxation of gambling operations in Ghana. Key taxes include:

  • Gross Gaming Revenue (GGR) Tax: To be concise, would be 20% of the revenue from the licensed operators.
  • Withholding Tax on Winnings: Withdrawing the winnings a 10% tax is imposed on all winnings.

Summary of Taxes

  • GGR Tax: 20%
  • Withholding Tax on Winnings: It is at this point that 10% comes in.

Prohibited and Allowed Bets

The act again has laid down some rules on the type of betting that one can engage in as well as the type of betting that is not allowed in Ghana. Although most types of gambling are legal, it is prohibited to gamble on unregulated gambling sites. The Gaming Commission regulates the betting activities and provides the recommended guidelines for proper betting practice.

Ghana Sports Betting

It has picked up well in Ghana due to the demographic composition of the population, high internet usage, and the passion for sports especially football, particularly the European leagues especially the English Premier League.

Sporting Event Glory Milestones

  • 1960: The Lotteries and Betting Act is the first piece of legislation to come into force.
  • 1992: The Ghanaian under 23 side popularly known as the Black Meteors were champions in football at the Barcelona Summer Olympics and clinched a bronze medal.
  • 2006: Legalization of online gambling is permitted under the Gaming Act.
  • 2023: The legislation of new taxes on gambling activities through the Income Tax Amendment Act.
  • Ongoing: Future trends in the growth of the sports betting industry especially in light of advances in technology and the greatly expanding popularity of football.

Conclusion

Sports betting industry and Ghana bookmakers work legally as the country has a well-defined legal environment in this regard. Leveraging on the enhancement of legal framework, well-coordinated regulatory bodies and comprehensible taxation, the gambling business in Ghana is rapidly growing. As it develops, it still remains one of the major sources of income for the government and helps to support public services and their development.

FAQ: Ghana Bookmakers

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