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Ukraine Releases Full Text of Gambling Reform Bill

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5 years ago

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Ukraine Releases Full Text of Gambling Reform Bill
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Ukraine’s authorities have released the full text of the bill to legalise gambling in the country. The draft also contains the provisions for online betting and igaming. This is a bit surprising since the government had earlier announced that the gambling will be restricted exclusively to certain territories and hotels.

The draft bill also permits igaming, online betting, online poker and retail bookmaking at other locations.

Ukraine will issue 10 online casino licences, 10 online betting licences and five online poker licences. The country will also issue 80 retail bookmaker licences, which will allow for 10 locations each.

In addition, 20 casino licences will be available only to five-star hotels that have at least 200 rooms if located in Kiev and at least 150 rooms if located elsewhere.

Operators must possess capital of at least UAH30m ($1.20m) in order to apply for a licence.

The bill also creates a gambling regulator for the country, the Commission for the Development and Regulation of Gambling. The seven-member Commission will be accountable to the country’s Cabinet of Ministers and will develop licensing conditions for conducting business activities, which must be approved by the cabinet.

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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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