CNBNews

On the website of the Commission for the Regulation of Gambling and Lotteries, a decision was published on the issuance of the first and only license to carry out betting activities in Ukraine. Thus, the international holding resumes betting activities — Parimatch legalization in Ukraine. 

Parimatch is one of the biggest steps. One of the top world betting companies will be able to fully function and invest in the development of the Ukrainian economy. The law on the legalization of gambling has already been passed by the parliament and signed by the president, but the big gambling business is on hiatus.

Until recently, the gambling business in Ukraine was in the shadows, under the guise of lottery licenses and the patronage of officials and security officials. Using rather aggressive marketing, these companies nevertheless did not want to attract too much attention. Such attention could end with searches with the seizure of equipment and lengthy court battles.

Ukrainian President signed a law to legalize gambling. Thanks to the document, the activities of bookmakers, casinos and slot machine halls — both offline and online — will be legalized and licensed in the near future.

Why it is necessary to legalize betting

The very fact that such a law has been passed is a huge breakthrough. Ukraine has become the last in Europe and one of the last countries in the world to legalize this type of business, not taking into account the countries where betting or online casinos are prohibited for religious reasons, there are not many countries left in the world, where this issue is not settled. All civilized countries have already regulated the activities of the industry: some forty years ago, some more, but everywhere this is an absolutely normal type of business.

Market analysts believe that the positive from the legalization of the market is great, but the society cannot yet evaluate it, but the players already have the opportunity to enjoy the advantages of playing in a legally operating institution:

• Online casinos and bookmakers are forced to compete, so they try to create favorable conditions for players, offer them promotional codes and favorable odds.
• Online gambling, where the main problem is the withdrawal of funds, is becoming more civilized. The law provides for the registration and identification of the client by uploading a scanned copy of the passport and bank card details.
• But the main benefit is that the player is protected from both fraud and himself. According to the legislation, player identification systems will operate in establishments of all types, monitoring of those included in the black list, accounting of bets and winnings will be carried out.

The only thing that is a dark spot for Parimatch in the history of the legalization of the gambling business is the fact that the law has been adopted and signed, but there is no state position on taxation of the industry.