Kofi Adams: Government Mulls Allocating Betting Revenue for Sports Development

Kofi Adams, the Minister of Sports and Recreation, has revealed that the government is considering utilizing revenue from betting to support the development of sports in the country.

He explained that the National Democratic Congress (NDC) had promised to establish a sports fund, which could be funded through proceeds from lottery and betting activities. Adams, who is also the Member of Parliament for Buem, emphasized that given the substantial revenue generated by betting, it would be a strategic move for the government to explore ways to tap into this sector. The funds could then be invested in improving sports infrastructure and other developmental areas.

“The NDC’s commitment to creating a sports fund must be fulfilled, and one way to do that is through a sports lottery or by allocating a portion of the taxes from sports betting activities,” he stated. “A portion of the tax revenue from sports betting could be directed into the fund to support sports development. As sports grow, the tax revenue will also increase, which will benefit the state. This is one potential approach being explored,” Adams explained in an interview with JoyNews.

In a related development, Minister of Finance Dr. Cassiel Ato Forson has assured the public that removing the betting tax would be one of his first actions in office.