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New Gambling Legislation Slated for Approval in Ukraine

New gambling legislation in the Ukraine has passed its first test. The Verkhovna Rada has approved the government’s 2285-d gambling bill.
An earlier version was rejected by the parliament, but progress looms. The bill will be tweaked in regard to the minimum age for gambling participation. It will change from 18 to 21.

Slot parlors are not addressed however as to their legality. Some 5,300 exist and stakeholders want up to 40k legal entities. Of course, they would be housed in particular areas and venues.

Online gambling will be covered, including its licensing fee structure. Permits for a hybrid online and land-based sports betting will run $23.4 million for five years for 120,00 monthly minimum wages. Casino licenses require 62,500 minimum wages while online poker operators pay only 2,500.

No one is sure why taxation is not an issue. The bill should reduce gambling rates from 18% to 10%. Plus, gamblers should get an exemption on their winnings.

Ukraine’s President Volodymyr Zelensky is getting tough. He has publicly blamed existing illegal gaming operators who didn’t want to “play by transparent rules.”

Perhaps this is why Ukrainian authorities have gone on an illegal gambling rampage, shutting down over 900 venues across the country. Lottery operations involving slots were included.

Source: https://calvinayre.com/2020/01/17/business/ukraine-parliament-approves-new-gambling-bill-first-reading/

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