Expert: "Ukrainian gambling market will be equally accessible to everyone"

Representative of the Expert Advisory Council of the Commission for Regulation of Gambling and Lotteries of Ukraine (CRAIL) Andrey Astapov revealed some details of the functioning of the recently legalized gambling market in the country. In particular, the functionary spoke about the main requirements put forward to operators by the local regulator.

The Ukrainian gambling market will be equally accessible to all foreign and national companies, Astapov claims. One of the main goals of legalization was to stimulate the inflow of investments into the country. As a result, equally transparent conditions are established for all interested parties. Despite this, when planning the organization of gambling in Ukraine, a potential investor must take into account a number of factors.

Андрей Астапов
Andrey Astapov

Firstly, any gambling activity can be carried out by a legal entity officially registered in Ukraine. Secondly, the operator must reasonably assess its financial capabilities. The size of the authorized capital, the bank guarantee for the payment of winnings to the players and the license fee are figures that should be kept in mind when applying for a license.

“To be more precise, the minimum share capital is approximately 860,931 euros. The bank guarantee cannot be less than 1,239,741 euros. The huge advantage here is that the money from the paid-in capital can be used for any other purpose and at the operator’s full discretion,” says Astapov.

Thirdly, there are also a number of requirements that can be divided into organizational and reputational. For example, any connection of a gambling company with countries that violate anti-money laundering laws is prohibited, and all major officials of the operator must have an ideal business reputation.

Recall, in the capital of Ukraine announced the opening of the Shangri-La casino.

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