Sports betting companies in the cotton producing nation of Uganda are in for a rough patch as the President of the country has instructed his government not to issue or renew licences for sports betting establishments.
David Bahati, Uganda’s Finance Minister, made this known; saying that President Yoweri Museveni gave the directive because of the negative impact the betting trend has on young people.
“We have received a directive from President Museveni to stop licensing sports betting, gaming and gambling companies. The President has now directed the board which has been regulating them.
From now onwards, no new companies are going to be licensed. Those which are already registered, no renewal of licences when they expire”.
Assuming our President here in Nigeria decides to follow the steps of President Museveni of Uganda and ban sports betting, how will it impact the Nigerian economy, and most importantly, how would you feel?