Browsing: betting

These days, technology has changed our life, how we respond to everything including how we buy and sell products and services. Fewer clicks on our smartphones or computers now and we can book a cab, a hotel room, a cinema ticket, buy salt, pizza, groceries and a lot of other products and services.

To do so, we often download apps or go to certain web platforms, create accounts by providing personal information and agree to the terms and conditions. We are then able to buy the products and services we are looking for.

When on the platform, done selecting the products or services we wanted, right before paying, we are most of the time requested to confirm that we agree to the “terms and conditions” or “terms of use” or “terms of service” of the platform. By clicking that we agree, we thus enter into a binding sale contract.

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Taxing cash prize winners in Tanzania`s gaming industry is not only inadvertently hurting its rapid growth, but also restraining and stifling its potential.

Innovation and competition have elevated the gaming industry`s offerings and drive more inclusivity among a broader range of audiences, contributing substantially to the economy.

In the 2017/2018 fiscal year alone, the industry contributed Tshs.3.4 trillion ($1.4 billion) to the national economy which is an equivalent of over 3 per cent of the Gross Domestic Product (GDP), official data from the Tanzania Gaming Board (TGB) indicates.

The Tanzania Sports Betting Association (TSBA) statement issued last week stated that taxing cash prize winners is not only hurting the impressive growth, but also restraining the industry`s considerable potential.

The association further stated that despite the industry`s massive contribution, there are concerns over the government`s approach of taxing sports betting which is hurting and inhibiting the industry`s massive potential for growth.…