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Changes in the Ukrainian Gambling Regulations

14 Apr 2017

gambling regulationsThe news are good for the punters from Ukraine, since the last announcement from the government has brought lots of smile to the country’s gambling market. The Ukrainian Prime Minister, received and accepted a letter from the Minister of Finance, who asked for the gambling to be relegalized by 2018 and the gambling regulations to be changed in favor of the industry.

What's the Background of Ukraine's Betting Market?

We should remember that 8 years ago, at 2009 all kind of gambling was outlawed in the country. Two years ago there were some tries to relegalize gambling, but those tries failed as operators felt that the tax rates and licensing fees were too high.

But as it seems, it is about time for things to change in this sector, as the government gave a great thought to this, due to the great revenues the state could have. Those regulations implied that if sports betting, lotteries, iGaming and land-based casinos were allowed, it could have created annual revenues of 1.5bn dollars. It should be noted that the Minister of Finance, Aleksandr Danilyuk said earlier this year that the government has missed out on 370 million dollars in taxes over the last two years due to the delays in reopening the market.

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