Ukraine is one of the countries located in the Eastern European region with its capital in Kiev. Ukraine has a long history of gambling, which has always been a rather troublesome one. This paper aims at identifying the development of Ukraine Bookmakers gambling laws, the governing bodies of the industry, the different gambling licenses to obtain, and the taxes levied on gambling operators. We will also introduce Ukraine sports betting and its framework and some of the achievements of Ukraine Bookmakers in the sporting world.
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Table of Contents
Summary of Key Events
Evolution of the Gambling Related Legislation in Ukraine
Early Years and Prohibition
- 1991: After getting independence Ukraine legalizes gambling.
- 1991-2009: The period that came to be known as the ‘golden age of gambling’ characterized by weak policies, fraud, and mafia.
- May 2009: The gambling hall fire in the city of Dnipro that took nine lives results in the public’s call for the prohibition of gambling.
- June 2009: President of Ukraine Viktor Yushchenko signs the law “On Prohibition of Gambling Business in Ukraine” and it takes effect on June, 25th, 2009.
- January 2010: The Cabinet of Ministers does not allow gambling activities to be carried out under the license of the corresponding economic activity.
- 2011: The Gambling Prohibition Law is changed in order to prohibit the activities of online casinos regardless of the server or company location.
Legalization and Regulation
- 2020: This is after the legalisation of online casinos through Law No. 768-IX that also covers the physical and virtual casinos.
Recent Developments
- April 2024: New rules are issued after the initiative of the activist Pavlo Petrychenko, thus increasing the restrictions for online casinos and prohibiting the activity for military men during the martial law. The petition collected 26 041 signatures and as a result of this, the president of the state Volodymyr Zelensky signed the decree on April 20, 2024.
Regulatory Body
The main regulator of the online casino licenses in Ukraine is the Ukrainian Gambling Council (Всеукраїнська Рада Гемблінгу). Any person wishing to carry out online gambling business in the country must approach this council.
Types of Ukraine Bookmakers Licenses
Ukraine offers various types of licenses for different gambling activities:
- Casino License: Discusses poker that is not played over the internet.
- Online Casino License
- Online Poker License
- Betting License: The latter may include both the traditional and the modern forms of betting which can be either physical or online.
- Racecourse Betting License: Permitted to engage in pool betting at racecourses on physical events.
- Slot Machine License: Relative to slot machines, the latter is allowed in hotel premises.
- Gambling Services License: For entities that deal with gambling software.
- Investment License: For those investors who are trying to create particular hotels.
Every gambling operator has to acquire permits for each device, for instance poker tables, roulette wheels and slot machines.
Licensing Terms and Taxation
- Resolution 300 (March 31, 2021): Concerning the gambling software developers.
- Resolution 1341 (December 21, 2020): Also applies to other forms of gambling (e. g. , casinos, poker, betting).
- Responsible Gaming Principles (August 11, 2021): Licensed by the Gambling and Lottery Commission.
Taxation
Ukraine imposes several taxes on gambling activities:
- General Gambling Tax: Thus, the share of gross gambling revenue was only 18%.
- Slot Machine Tax: It is a 10% of the gross gambling revenue.
- Winnings Tax: 1. 5% of player winnings.
Besides, there are other taxes charged on such goods where corporate tax rates are at 18% of the sales turnover. Gambling activities are not liable to VAT. The percentage of the tax that is imposed on personal income from gambling winnings is 18%.
Ukraine Sports Betting
This paper aims to focus on the analysis of Ukraine sports betting and its role in the country’s gambling industry. A Betting license covers both the physical and online betting making it possible for the operators to provide many sports betting products. The first gambling licenses for sports betting were issued in early 2021 with spacex llc (cosmolot brand), parimatch, gamedev llc, and first element llc among the first ones to receive the license.
Sporting Event Glory Milestones
- The national football team of Ukraine participated in the FIFA World Cup for the first time in 2006 where it got up to the quarters.
- Ihor Belanov, Oleh Blokhin and Andriy Shevchenko are famous Ukrainian footballers who have been awarded the Golden Ball.
- Both of the boxers, namely Vitali and Wladimir Klitschko were world heavyweight title holders.
- Sergey Bubka of pole vaulting held the Indoor World Record from the Year 1993 to the year 2014 and the Outdoor record since the Year 1994.
- Ukraine men’s national basketball team secured their place for the FIBA World Cup in 2014.
Conclusion
It is essential to comprehend Ukraine Bookmakers gambling laws, the kinds of licenses issued, and the taxation level, especially for those who plan to engage in the sector. This means that the country has put measures to regulate both the physical and the online casinos to avoid extreme cases of gambling. Sports betting industry in Ukraine remains prominent, thus contributing immensely to the growth of the economy and available openings for high net worth investors.
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