The Ukrainian gambling market's reopening

In 2009, due to an incident in the city of Dnipropetrovsk, the Ukrainian government made the decision to shut down the entire casino gaming market. Now, after 12 years have passed in 2024, the government has announced that the sector will reopen and that the necessary regulations have been finalized.

Fresh guidelines that attract the interest of potential investors.

Mr. Anton Kuchukidze, the Chairman of the Gambling Council of Ukraine, recently revealed the exciting news of the long-awaited reopening of the gambling industry after a 12-year hiatus. Alongside the announcement, he also outlined the rules and regulations that will govern this highly anticipated endeavor.

The president firmly believes in the immense potential of the market, foreseeing a significant increase in the number of investors. To date, numerous operators have already obtained 40 licenses, highlighting the growing interest in this sector. It is crucial to ensure the protection of vulnerable individuals, such as minors and those with gambling addiction, as the market continues to evolve.

To provide services to players, an operator must fulfill specific requirements.

• Casinos are required to operate exclusively within government-approved hotels.
• ???? Businesses will be required to remit a fixed tax amount without any variations. 170,000 euros/year ;
• ???? Corporations will be required to remit a tax of 19,5%on earnings.

The government aims to ensure that casinos adhere to the regulations in order to avoid hefty penalties. With the objective of increasing revenue, it is anticipated that over 160 million euros will be generated annually. Betmatch, being the pioneer, has successfully acquired its license to operate as a casino. Furthermore, the government prioritizes the well-being of individuals with gambling issues and underage gamblers by providing them with protection and support.

A significant event that forever altered the course of gambling's narrative.

In May 2009, tragedy struck on the fateful day when Barcelona and Chelsea clashed in the Champions League. The casino was abuzz with eager fans and bettors, eagerly anticipating the match.

Regrettably, a Slot machine that did not meet our team's standards caught ablaze, causing the rapid spread of fire throughout the five-story building.

This unfortunate event could have been prevented if the regulations were followed, as the building lacked any emergency exits. The fire tragically resulted in the loss of nine lives and left eleven others injured.

At that point in time, there was no supervision or guidance for addicted or adult players, leaving them to navigate the world of gambling on their own. As a result, the city of Kiev made the decision to completely halt all forms of gambling, including online casinos, rendering them prohibited. This prohibition led to the rise of underground and illicit casinos as an alternative.