Armenia is a country in the South Caucasus, situated at the crossroads of the Syriac and Turanic regions and is flanked by Turkey, Iran, Georgia, and Azerbaijan with its capital in Yerevan. Nonetheless, Armenia has a well-established gambling industry, with sports betting being one of the prominent segments that have a considerable impact on the country’s economy, despite the geographical restrictions. In this article you will find the information about Armenia Bookmakers and the legal situation in Armenia concerning sport betting.
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Table of Contents
Summary of Key Events
History of Gambling Laws in Armenia
1922 – 1991
Prior to Armenia’s independence from the Soviet Union, legal forms of gambling were sparse in Armenia, Georgia, and Azerbaijan. The only two forms of gambling legal in the USSR were state-run lotteries or Sportloto and betting on horse racing.
1991
Gambling became legal in Armenia after the country got independence from the Soviet Union in 1991. However, initially, only the lottery was permitted. The Armenian Nationwide Lottery was also from the communist period, however, it was adapted to the new name for the new country of Armenia.
2004
Armenia also had a shift in year 2004 after the legalization of betting especially on sporting activities and casinos. It was also the year of foundation of TotoGaming – the biggest Armenian gambling company and the legalization of online gambling.
2018
Concerning rising problem gambling rates, the government tightened gambling policies in 2018; the legal age for gambling was raised.
Casino Laws and Regulations Today
Armenia has its own legislation on gambling – the Law of the Republic of Armenia on Games of Chance and Casinos. Over the years after the country’s independence, there are the provisions that govern both the land-based and online gambling.
Key Legal Provisions
- Licensing: The Ministry of Finance regulates the gambling industry and license gambling operators.
Types of Licenses:
- Implementation of Audit Services
- Organization of Lotteries
- Gambling Games and Casinos Organization
- Organization of Internet Gambling Games
- Cash Collection Services
- Fees: In accordance with the Armenian Tax Code, licensing fees are set.
- Locations: Such gambling zones can be established only in some regions, for example, Tsaghkadzor, Sevan, Jermuk, and Meghri. Gambling is not allowed in Yerevan.
- Taxes: As opposed to percentage-based taxation, various gambling businesses are subjected to a fixed state duty. Though, there are proposals to shift to a revenue based taxation regime.
Regulatory Agencies
The main state authority controlling and regulating gambling operations in Armenia is the Ministry of Finance. They are mandated with the duty of providing licenses and also monitoring that the operators adhere to the national laws.
Sports Betting in Armenia
Betting on sports is legal and very widespread in Armenia and the country has a good reputation for the regulation of this form of gambling. This means that there are different kinds of legal activities related to sports betting, which can be done both online and offline.
Types of Bets of Armenia Bookmakers
- Games of Chance: This refers to activities involving games on gaming tables and machines, which are determined by chance or skills (for example poker).
- Lotteries: Raffles or lotteries where the money is split according to the luck of the winners.
- Totos: This is contracts where people wager on the likelihood of particular events, such as sports fixtures. The result is based on the correctness of the bet made, and the amount of the prize is calculated according to the size of the bet and the winning coefficient.
Key Players
TotoGaming: The biggest and the most popular betting company in Armenia providing different types of betting on the Internet and in the stores. These companies have almost a complete domination over the digital gambling industry and offer internet sports betting, online casino games, and digital lotteries.
Recent Developments
Online gambling ads were prohibited in Armenia in January 2021 following the approval of amendments to the Law “On Advertisement” by the Armenian parliament. This measure is expected to reduce the incidence of problem gambling and ensure that internet gambling is regulated in the same manner as other gambling activities such as those carried out in physical casinos.
Responsible Gambling Measures
Armenia has implemented several measures to promote responsible gambling:
- Self-Exclusion: People, or their close ones, can also apply for self-exclusion or exclusion of other gambling establishments.
- Legal Capacity Limitations: Those who have created problems for their families in terms of financial issues arising from gambling can be barred.
Economic Impact
On one hand, gambling leads to social issues, on the other hand, it has become an important source of the government of Armenia’s income. Casinos and private operators produce a large amount of tax revenues, which indicates that gambling is one of the most heavily taxed industries, along with tobacco and alcohol industries.
Conclusion
The gambling sector is quite developed in Armenia, especially in sports betting which is well regulated and growing. Laws in the country as well as measures put in place to curb irresponsible gambling ensures that the country enjoys the economic benefits that comes with gambling without having to deal with the social issues that the vice brings. Therefore, for anyone who is concerned with Armenia bookmakers or Armenia sports betting, it is necessary to comprehend these legal aspects and the latest trends.
FAQ of Armenia Bookmakers
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