Feeling Lucky? You Won’t After Minister Ncube’s 10% Betting Tax
In what can only be described as the most on-brand budget proposal of 2025, Finance Minister Mthuli Ncube has revealed a plan to tax the nation’s growing army of sports betting punters.
Yes, you read that right. The same people who are staking their hopes—and their last few bucks—on the next big football match will now find themselves with a little less to cheer about, thanks to a 10% withholding tax on their winnings.
Speaking with the finesse of someone who knows exactly what the people want, Minister Ncube confidently addressed the nation: “Mr Speaker sir, you are aware that the betting industry is quite popular, and its growing as indicated by the proliferation of sports betting houses countrywide.” No kidding, Minister. With the cost of living skyrocketing, it’s no surprise that Zimbabweans are turning to anything that promises the hope of a quick buck—whether it’s betting on football or the next horse race.
Ncube’s keen eye for economic opportunity led him to propose a revolutionary tax reform: “In order to include punters in the tax base, I propose we introduce a 10% withholding tax on gross winnings of sports betting punters with effect from 1 January 2025.” Because who need a job when you can just bet on the next big game, right?
Of course, while many people are out there dreaming of a winning streak, the minister is dreaming of a budget that includes every last cent—yes, even from that lucky punter who just cashed in on a football win. It’s a tax the people didn’t see coming but, apparently, one they’ll just have to accept as their new reality.
The timing couldn’t be better—just as the Zimbabwean sports betting industry reaches its fever pitch, the government is stepping in to make sure that, win or lose, everyone’s paying their fair share. The money will surely help fund more essential services like… well, who knows? Maybe we’ll see a sports betting-themed amusement park next, with the revenue going straight to government coffers.
