Gambling operators to pay security bonds to regulatory authority
The Ugandan National Lotteries Board (NLB) has passed a decree that requires gambling firms to pay a security bond of USH 200 Million (US$75,616.00) to cover customer payments should those operators fail to meet their obligations.
“Most of these sports betting firms are owned by foreigners,” Manzi Tumubweinee, chairman of the NLB inimitably said. “After making money, they close and run away without paying their clients. We are calling on anyone who wins and feels cheated to come and get help from us. If we establish that he/she genuinely won, we shall pay.”
Tumubweinee clarified that all operators who offer gaming and pool betting in the Ugandan market require licencing from the NLB. “We have almost 50 gaming firms but only 32 are licensed. If any players enter a firm without a license, they are required to report that firm to Police because it is operating illegally,” he said.
Operators or promoters who flout the licencing process are liable for a fine of up to USH 10 000 and may face a jail sentence, Tumubweinee warned.
Other changes include the provision that casinos operators may not operate less than 200 meters ways from churches, mosques and Government offices.
“We are planning to do a lot of enforcement. We are going to close all illegal firms so that we limit underage gambling and crime. Very soon for anyone to bet, you will be required to show a betting permit,” concluded Jonathan Kyeyune, who heads up NBL Operations.