The liberalization of Ukraine’s gaming market could bring €160 million (US$187 million) a year into the country, according to President Volodymyr Zelensky.
Gaming was largely banned in the East European country after a large fire in 2009 killed nine people and injured 11 others in a gambling hall in Dnipropetrovsk.
However, 12 years later and the gaming industry is booming. So far 40 licenses have been issued by the government.
Anton Kuchukidze, the chairman of the Ukrainian Gambling Council, agrees with the president. He told Euronews: “The potential here is very high. It is a success story for Ukraine.”
The new rules were introduced in 2020 and established who can operate online and in brick and mortar casinos, which are limited to higher quality hotels.
Operators have also been recruited by the government to identify gaming addicts. Some are studying user data to try to identify addicts early on.
Responsible gambling regulations were published by the Commission for the Regulation of Gambling and Lotteries (KRAIL) in June. They restrict bonuses and other incentives—especially to players who have lost heavily.
According to KRAIL: “Responsible gambling is a basic principle of organizing and conducting gambling, and involves the implementation of measures to prevent and minimize the negative consequences of individual participation in gambling, as well as measures aimed at organizing self-restraint and self-control for players,”
Some operators, like Sergey Potapov, chief executive officer of online casino Cosmolot, says taxes are too high.
“We are willing to pay taxes and do so,” he said, “But the tax system will need to change to be competitive to compete with Russia, Belarus, or other countries. I think that many companies are waiting to enter the market until the new law is in place. It is not sustainable as it is right now, and everyone understands that.”
