The Ukrainian gambling market has had an extremely dynamic history since its legalization after the collapse of the Soviet Union in 1991.
Ukraine is currently a dynamic market for the betting industry as it is home to well-known international brands with a strong sports presence such as Parimatch .
There are several forms of legal gambling in Ukraine, including land-based casinos, online casinos, online and offline sports betting, and offline poker, the latter of which is recognized as a sport in the country but must be played offline and in an organized manner . in the form of a tournament with a prize pool with fixed buy-ins for players.
However, this was not always the case. Following Ukraine's independence from the USSR, the industry grew rapidly during the 1990s, expanding from a single casino in the basement of a Kiev hotel at the start of the decade to nationwide coverage, including the installation of slot machines in several businesses, but political opposition remained.
This confrontation came to a head in 2009 after the outbreak of a large fire in a gambling hall, which killed several people.
This tragic event was followed by a complete ban on the industry, signed by the President of Ukraine Viktor Yushchenko June 23rd.
Although the then president personally opposed the ban due to the sector's support for over 200,000 jobs, as well as its financial impact on Ukraine's budget, lawmakers moved ahead with proposals and the market was closed on June 25, 2009.
Earlier attempts to regulate the industry resulted in all free-standing slot machines being removed from various businesses in 2005, and prior to that, it was ruled in 1996 that casino operators needed a government patent in addition to proper licensing.
Ten years after the initial ban — and after a change of government — President Vladimir Zelensky began work on the re-legalization and re-regulation of the gambling sector of Ukraine, reaching its goal in October 2020.
The new president established Commission on gambling and lotteries responsible for licensing, certification and general market monitoring and industry control, composed of six people and headed by a chairman.
Source - YouTube channel Slotregator
Ukraine's gambling industry was discussed earlier this year at SBC Digital CIS. conference with Boris Baum , Deputy Advisor to the Head of the President of Ukraine; Levgeniya Derbal , director of legal affairs, Parimatch; Dr. Ekaterina Hartmann , director of legal and regulatory affairs, European Gambling and Betting Association (EGBA), and Ilya Machavariani , senior partner, 4H Agency.
The post Ukrainian Gambling: From Prohibition to Regulation first appeared on GamblingTV.com.
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