There has been an increase in the number of betting companies in the country in the recent past. Nowadays, it is a common thing to find youths gathered in betting shops trying their lack by placing monetary bets. In most cases, the majority of these youths end up losing their money.
As much as the betting is being portrayed as a remedy to unemployment, in reality, it is dangerous and highly addictive.
As noted by Interior Cabinet Secretary Fred Matiang’i, 54 per cent of youth betting actively have low earnings.
“76 per cent of youths have an active involvement in betting. 54 per cent of these youths are low-income earners,” said Matiang'i.
Here are some of the ways in which gambling is ruining Kenyan youths.
1. High debt rates
Approximately, 500,000 Youths in Kenya are blacklisted by CRB. They owe loans from various firms, following the loss of money in betting. Others have taken soft loans from family members and friends and now they have debts they cannot afford.
2. Loss of property
We have heard cases of guys who become homeless because they got lured into betting and lost money. People are selling household items like TV sets, sofa sets, and fridges among others in efforts to win jackpots but end up losing.
3. Destruction of friendships and family ties
Close ties are broken when someone takes a soft loan from friends and family members and relatives but end up being unable to clear the debt. Animosity is created leading to hostile relations.
4. Suicide
In extreme cases, some youth end up committing suicide after losing their money on bets. We have had several cases of university students taking their own lives after losing bets.