New Ukraine Rules On Gambling Applications

Following the change to allowing gambling once more in Ukraine more details have been given on the new laws and applying to operate.

Within the new laws there will be eight forms of gambling allowed for operators to apply for a license, they are land-based casinos, online casino, retail sports betting, online sports betting, slot machine venues, online poker, totaliser contracts and lotteries.

Currently there is no gambling regulator in Ukraine but once this has been formalised all applications will need to go through the regulator. Each and every form of gambling will need a separate license.

One notable inclusion in the new regulations on gambling is that any applying company must disclose itself as a legal entity on ownership, shareholders or management and they should not be residents of ‘foreign states recognized as an occupier or aggressor to the Ukraine‘.

However it has not named or classed those states that are deemed as an occupier, which must clearly mean Russia and an aggressor.

Any company applying for a license must show proof of funds of €1.1 million in various ways BUT must disclose where those funds have been derived.

Source: gaming-awards.com

About Post Author