Gambling Business in Ukraine: Current Information about Ukrainian Gaming Week

The legalisation of gambling in Ukraine has become an important theme for many entrepreneurs. The gaming industry has been banned for 10 years in this country. Although offline and online lotteries in Ukraine continued to operate within the law, owners of other gambling establishments suffered losses and closed their projects.

Gaming Law — the Beginning of the Industry's Revival

The first attempt to legalise the entertainment field was undertaken in 2017. In July 2020, the president signed a law allowing casinos, gaming clubs, poker rooms, and bookmaker offices to operate in land-based and virtual segments.

The main points of the regulatory document:

1. It is necessary to obtain a licence to buy an online casino or land-based establishment.
2. A gambling operator is obliged to register a legal entity in Ukraine.
3. The amount of the authorised capital should make up UAH 30 million (data is current as of January 14, 2020).
4. The cost of gambling licences varies from 750 to 120,000 minimum wages (depending on the type of projects, features and the location of establishments).
5. Government organisations and financial institutions are not allowed to open gambling establishments, including online lotteries in Ukraine.
6. The licensee can manage only one establishment.
7. Casinos advertising is allowed in the online space and the media.
8. The gambling licence is valid for 5 years.
9. The owners of gambling clubs and casinos are prohibited from installing slot machines released before 2019.
10. It is possible to open casinos in the capital only in 5-star hotels.

The new rules created favourable conditions for the development of the gambling business and gave hope for the prosperity of the industry. Not surprisingly, the queries "How to make money on bets?", "What is the tax on lottery winnings in Ukraine?" and similar ones have become more frequent in Ukrainian internet space.

Businessmen are actively looking for information on how to open bookmaker projects in Ukraine or organise the operation of slot machine halls.

Ukrainian Gaming Week is a unique opportunity to get acquainted with the opinion of experts about the new law, study the details, and learn more about the prospects and achievements of the Ukrainian gambling industry.

What do the Organisers of Ukrainian Gaming Week Offer?

The following figures testify to the large scale of Ukrainian Gaming Week:

• about 3,000 visitors who will become part of the new gambling era;
• more than 100 information partners: iGB, Jobsora, grc.ua, Smart Money, Yogonet, Bett-Market, SBC, and others;
• over 100 members: EGT, IGT, Favbet, BetConstruct, Interkassa, Apex Gaming, Slotegrator, Login Casino, etc.

Guests of Ukrainian Gaming Week will be able to familiarise themselves with the products of recognised manufacturers operating in the virtual and land-based segments.

The best experts in the gambling industry will speak at the conference:

• Tamara Golubchyk;
• Artem Kuzmenko;
• Oleh Derlyuk;
• Iryna Sergienko;
• Maryna Martynenko.

Speakers will answer the following questions:

• How to open a bookmaker's office and a gambling hall?
• How to form a professional business team?
• How to make money on bets and lotteries?
• What is the tax on winnings in Ukraine?
• How to launch a casino on the most favourable terms?

Conference participants will also get a chance to:

• learn more about the legal nuances of the new legislation;
• establish cooperation with promising partners;
• create thematic networking;
• sign contracts with the leaders of the gaming industry (EGT, IGT, Favbet, and other reliable manufacturers).

The guests of the event will be able to attend the UGW Awards — an award ceremony for the best representatives of the gambling business.

Do you want to keep abreast of current events and find out more about the launch of gambling halls, bookmaker projects and online lotteries in Ukraine? Please, contact Smart Money. We partner with reputable suppliers and experts to help you open a profitable gambling business.

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