Survey Reveals Gambling Spending Trends in Kenya
The average amount spent on gambling by Kenyans has reached Ksh1,825, with younger, urban, and educated individuals increasingly viewing it as a potential income source, according to the 2024 Finaccess Household Survey.
Gambling Expenditure Across Demographics
The survey reveals that the 18-25 age group holds the highest perception of gambling as a potential income source, at 13.4%, followed closely by the 26-35 age group at 12.7%. Urban respondents were more inclined towards this perception, with 11.9% identifying gambling as a possible source of income compared to 10.1% of rural respondents. Male respondents demonstrated a higher perception rate (13.7%) than females (8.2%).
When it comes to actual spending, urban residents reported an average expenditure of Ksh2,125 on gambling, outpacing rural residents, who spent Ksh1,481. Similarly, men spent an average of Ksh1,876, compared to women, who spent Ksh1,623.
Link Between Gambling and Financial Inclusion
The survey noted a growing use of mobile technology and mobile money in gambling, particularly in sports betting, which has facilitated broader access. Around 11.2% of respondents reported being actively involved in betting activities.
The findings suggest that younger, urban, and educated individuals are more likely to invest in gambling, influenced by optimism or the perception of gambling as a viable income opportunity. This trend reflects broader shifts in financial behavior, shaped by technological advancements and increased financial inclusion.
The 2024 Finaccess Survey also highlights the influence of recent regulatory reforms on the financial inclusion landscape. The adoption of technology and innovative financial services has deepened the usage and quality of financial products, supported by government policies and private sector strategies.
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