The legal market of gambling in Ukraine is expected to generate at least $185 million?in annual budget revenues

The President of Ukraine, Volodymyr Zelensky, signed bill No. 2285-d on state regulation of activities related to the organization and conduct of gambling in Ukraine.?This was reported on Verkhovna Rada. Most types of gambling have been banned since 2009.?

The Ukrainian parliament said on its website that the bill was returned with the signature of the head of state yesterday, August 11.?

The government has committed to establishing eight forms of gambling in Ukraine; land-based casinos, online casinos, retail sports betting, online sports betting, slot halls, online poker, totaliser contracts and lotteries. The new market is expected to be somewhere in the region of 40,000 slot machines.??

This legal gambling market is expected to generate at least $185 million?in annual budget revenues, as well as act as an incentive for the growth of related business areas and the creation of 1,000s of new jobs.?

The international betting and technology company?Parimatch?has confirmed it will be bidding for the new operating?licences?in the country.?

Sergey Portnov, CEO of?Parimatch?said “I would firstly like to congratulate President?Zelensky?for delivering on his pledge to legalise gambling in Ukraine. He has shown that he is a man of his word and we fully support his agenda to liberalise the local economy.?Parimatch?has long argued that the development of a fair and regulated betting industry will really benefit Ukraine.”

Since the legislation doesn’t yet offer clarification on licensing costs and industry taxes, operators will have to wait for coming news expected next month.?

SiGMA’s second European?iGathering?event this year will be held in Kiev, Ukraine, on the 27 August,? just two weeks after the signing of this bill.

This is a great opportunity for all operators, advertisers, lawyers, regulators, and affiliates to meet face-to-face and discuss this important piece of legislation which will surely be key to the future success of industry of gambling in Ukraine.

Our special guest at the iG in Kiev is Boris Baum, Deputy Head of the Office of the President of Ukraine. Baum stated, ‘I’m thrilled to be attending this event. The signing of this bill is a landmark moment for Ukraine – being able to meet with some of the top figures in the industry to discuss this important piece of legislation will be key to the future success of industry of gambling in Ukraine.

For more information about the iGathering contact Denis Dzuybenko,?CIS Region Brand Ambassador at SiGMA Group.?

About SiGMA Foundation:

SiGMA Foundation is the charitable arm of SiGMA Group, reflecting the company’s commitment to supporting those in need around the world with fund-raising activities.?