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Are there sanctions for not complying with the rules guiding the Pools and Betting Business?

Yes there are sanctions for non-compliance and they include:

         a.    Prosecution

                      b.    Suspension of Pools promoter’s licence

                      c.    Interest and Penalty.

What is Pools Betting Tax?

Pools and betting tax is a tax levied on any licensed proprietor carrying out pools and betting business within the State.

What is the timeline for renewal of a Pool Promoter’s Licence?

Renewal of Pools Betting Licence commences at the beginning of every financial year.

Who are the Stakeholders in the Pools industry?

Stakeholders in the Pools and Betting industry include:

a.                EIRS

b.                Pools Promoters

c.                Pools Agents

                  Pools Stakers

Who regulates Pools Betting business in Edo State?

The Edo State Internal Revenue Service is legally saddled with the responsibility of regulating pools and betting business in Edo State.

What should a registered Pools Promoter do to continue in business?

To continue in the business of pools betting, a pools promoter is expected to renew his pools promoter’s licence as well as possess the following:

a.    Income Tax Clearance Certificate for the past 3 years to be presented by two (2) of the company’s Directors.

             b.    Evidence of payment of current year Income Tax assessed by the Edo State Internal Revenue Service.

             c.    Bank Guarantee.

What should an intending Pool Promoter do to carry out the Business of Pools Betting?

       A Pools promoter intending to embark on the business of pools betting in Edo State, is expected to register with the EIRS with the following requirements:

                a.     Complete  a registration Form;

                b.    Licence Fee;

c              c.    Agents Licence;

                d.    Bank Guarantee.