The Institute of Community Sustainability has raised concerns about the growing threat of sports betting to the well-being of Ghana’s youth.

The Institute has warned that the rapid rise in sports betting, particularly among young people, has reached alarming levels, prompting their call for the government to increase the betting tax to 50%, up from the current 10%, in a bid to tackle the issue.

It is important to note that during his campaign, President-elect John Dramani Mahama had promised to remove the betting tax as part of his broader tax reforms.

He had said, “First, is resetting the economy for prosperity. 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 winnings.”

However, in a statement released by Eric Jerry Aidoo, the Executive Director of the Institute of Community Sustainability, he expressed grave concern about the current state of sports betting in the country.

Mr Aidoo highlighted how many young people are investing large amounts of time and money into betting platforms, with some risking up to 50% of their winnings only to lose it all, trapping them in a vicious cycle.