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Minister of Sports and Recreation, Kofi Adams, has disclosed that the government is exploring ways to raise revenue from betting to develop sports in the country.
He indicated that the National Democratic Congress’ (NDC) promise to establish a sports fund could be achieved by generating funds from lottery and betting.
The Member of Parliament for Buem stated that since betting generates significant revenue, it would be prudent for the government to devise measures to tap into this sector and invest the funds in infrastructural development and other areas.
“The NDC’s promise to establish a sports fund must be fulfilled. This could be achieved through a sports lottery or by allocating a percentage of existing taxes on sports betting activities.
“A percentage of the tax revenue generated from sports betting could be channelled into the fund to support sports development. As sports grow, the tax component will also increase, benefiting the state. This is one option being considered,” he said in an interview with JoyNews.
Meanwhile, Minister of Finance, Dr. Cassiel Ato Forson, has assured that removing the betting tax would be one of his first acts in office.
Watch Kofi Adams’ interview below:
