If you’ve been betting and winning all alone, that’s about to change. Soon enough, you’ll be placing bets with the government in mind, as the Zimbabwe government is introducing a 10% tax on all sports betting winnings starting January 1, 2025.
Whether your winnings are modest or monumental, the government is now claiming its share, marking a bold step in tapping into the booming gambling industry.
With betting shops springing up across the country and online casinos becoming a favourite pastime for Zimbabwe’s youth, the industry has seen explosive growth. This new tax is expected to transform that surge into tangible benefits for the nation’s economy.
Betting operators are now responsible for deducting the tax at the source and remitting it to the government. The rationale is simple: winnings are income, and income should be taxed.
While this policy is designed to bolster the national budget, it could also shift the dynamics of the gambling industry. Players may hesitate to place large bets, knowing a slice of their winnings will be redirected to the state. Betting businesses, in turn, may have to work harder to attract and retain clients, possibly through promotions and enticing bonuses.
Economically, the government is betting big on this initiative. The additional revenue could fund vital sectors such as education, healthcare, and infrastructure, reducing Zimbabwe’s reliance on traditional revenue sources. However, some concerns remain, including the risk of pushing bettors toward illegal gambling platforms to avoid the tax.
Complementing the new tax is a broader reform effort, led by the newly established Zimbabwe Gambling Regulatory Authority. The Authority is tasked with ensuring compliance, tackling illegal operations, and addressing gambling addiction, promising a more transparent and controlled industry.
This 10% tax signals more than a policy change—it’s a gamble on turning the country’s love for betting into a win for everyone. Will it pay off? Only time will tell.