Gambling Regulator Officially Created in Ukraine
On September 23, 2020, the Cabinet of Ministers adopted the resolution that stipulates the establishment of the Commission for Regulation of Gambling and Lotteries (authorized body) in Ukraine. The Cabinet Minister Oleg Nemchinov reported the corresponding governmental decision.
According to the adopted document, overall 230 people will work in the commission including one chairperson and six members of the regulator. The commission will be found in Kyiv at the address 26 Lesi Ukrainky Boulevard.
It is currently not known who will head the regulatory body and who will be part of it.
What powers will the commission have?
\ on gambling business legalization envisages that the authorized body represented by the Commission for Regulation of Gambling and Lotteries will ensure state regulation of gambling activities in Ukraine.
The law specifies the following powers of the collegial body:
- drafting and submitting for approval to the Cabinet of Ministers of the licensing conditions for the organization and conduct of gambling;
- issuance and abolishment of gambling licenses;
- administering the state online monitoring system, determination of requirements for this system, development and approval of the procedure for its functioning;
- development of the procedure for the inspection of gambling equipment and facilities;
- determination of requirements for fighting against problem-gambling, and definition of principles of responsible gambling;
- submission of proposals to state authorities concerning bills and other regulatory documents in the field of gambling;
- consideration of player complaints against the actions of gambling organizers;
- creation of favorable conditions for attracting investments in the gambling field, etc.
It should be reminded that the law that legalizes land-based and online casinos and betting, as well as online poker and slot machine halls in Ukraine came into effect on August 13 this year. It is expected that the launch of the legal gambling market will bring additional funds to the state budget and help to create new workplaces and attract more tourists to the country.
Where to find out about subtleties of the Ukrainian gambling law?
On November 26-27, the massive industry exhibition Ukrainian Gaming Week 2020 will take place, where companies from different countries of the world will present advanced gambling solutions.
The first day of the event will involve a conference, where public officials, Ukrainian and foreign experts will discuss peculiarities of gambling regulation, the most promising areas for running business, and the future of the industry.