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Compliance Updates

Ukrainian Parliament Registers Draft Law on Regulation of Gambling Industry

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Ukrainian Parliament Registers Draft Law on Regulation of Gambling Industry
Photo Source: unian.info
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Verkhovna Rada, the Parliament of Ukraine, has registered a draft Law “On State Regulation of Activities in the Organization and Conduct of Gambling.” The Government’s bill aims to comprehensively streamline the organisation and conduct of gambling.

Adoption of the bill will allow to regulate the problem of illegal gambling business distribution and prevent gaming addiction. The legalisation of gambling business will also increase revenues of the budget up to UAH 5 billion, but the final figures of the expected budget earnings will depend on the version the MPs adopt the law.

Since 2009, the Law of Ukraine “On Prohibition of Gambling in Ukraine” has been in force. But the results of this ban have led to gambling being a shadow business and their organisers receiving a surplus; the State budget has not been filled through taxes and fees from such gambling industry.

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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