It is common knowledge that Kenya is among the top countries in the world in Corruption matters. This evil that bedevils us has done us more harm than we can statistically quantify.
From unemployment to under-employment, the Kenyan youth continues to harbor that elusive Kenyan dream, if ever, there was one. It is because of these economic upheavals that the youths engage in new frontiers to try and make ends meet.
From innovation to the invention, an average Kenyan is trying through thick and thin to ensure that they can at least put a meal on the table. The new kid on the block as far as “hustling” is concerned, is Gambling. This article will try to approve or and disapprove gambling as an economic activity that is “The Next Big Thing.” Is a sport betting our new Oil??
A Wiseman once said a fool and his money are soon parted. There has never been a time in Kenya’s history when this saying became so applicable than today. Gambling is different things to different people. The English dictionary defines it as the act of playing for stakes in the hope of winning. It includes payment of a price for a chance to win a prize.
Wilson Mizner defines gambling as ‘the sure way of getting nothing for something.’ Mizner’s definition thus excludes the existence of any direct Quid Pro Quo in gambling. Is gambling really this bad? If it is, why is it legal in Kenya? Does it have any economic benefits? Let us try to answer some of these key questions.
o start with, gambling leads to financial devastation. They say that gambling is a successful business because the house always wins. The player will generally start gambling with the aim of achieving some financial freedom. However, they never reach this level. The more one wins, the more they will gamble with the hope of winning much more.
This trend will continue until finally, they have lost all they had. At this point, one will find themselves in deep debts and financial troubles. Their gut feeling will be to further borrow and win back their bet, so the cycle will continue.