The government of Ukraine has given their consent to one of the most aggressively debated bills regarding the regulation betting activities. As per the new law, wide-ranging rules and regulations will be introduced in the Ukrainian gambling market. There will be different licenses issued for land-based betting and iGaming activities.
The new law will also consist of a register of self-restricted persons, limiting the partaking in betting of inappropriate players for a period of six months to three years.
Apropos the new law, the head of Eastern European Gaming and Gambling practice at Dentons, Ilya Ukraine gamb law Ilya Machavariani said:
“My thoughts are simple – this is a huge step for Ukraine and for the Eastern European industry as a whole. Any flaws that adopted law might have are nothing compared to the fact that Ukraine has finally managed to legalize gambling, despite surrounding controversy and various forces trying to push the law in different directions.”
It is to be noted that the Ukranian government has set stringent requirements to ensure fraud prevention and minor protection. The financial condition of gambling operators will be scrutinized, in order to confirm their financial stability and assure money payments without default. Furthermore, severe financial sanctions are anticipated in cases where establishments or players fail to obey the new law.
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