As Fort bet, a gaming company in Uganda recover from the recent losses incurred during robbery at its major centre in Mukono, the company is also facing a decline in the number of clients upon discovering that it lacks insurance.
Much as the company still operate observable centres, it has also opted for internet gaming.
This website has learned that several betting companies have lately been registering declines in returns forcing them to sideline insurance companies.
Insurance safeguards the business and cover possible losses especially the gambling operator get due to huge wins on their platforms.
Whenever massive win occurs, it significantly impacts the company’s expenses which insurance companies can cover to enable maintenance of profits.
On January 12, this year, at around 8:40am, Forbet bet at Kavule, Mukono was attacked by robbers carrying pangas.
Robbers who entered the premises pretending to be customers tied up workers including Flavia Kayaga, Peter Katumba, and Aidah Bukirwa before taking off with money and two smartphones.
At the scene, officers found ropes tied to metallic chairs behind the counter, scattered bag items, and intact computers and betting machines.
Patrick Onyango, the Kampala Metropolitan Police Spokesperson confirmed the incident saying ropes were recovered as evidence, but the crime scene had been compromised by the victims and responders, which hindered the use of canine assistance.
The recent auditor general’s report, there was no availed capacity details of the database to confirm the overall capacity of the National Lotteries and Gaming Regulatory Board (NLGRB).
Its system requires additional storage to accommodate the information being captured.
Section 7 of the Anti-Money Laundering Act Cap 118 requires an accountable person to take appropriate steps to identify, assess and monitor its money laundering, terrorism financing and proliferation financing risks.
Nonetheless, the auditor general was also not provided evidence in this respect that the assessment was done.
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