Ukraine Government to Lift Ban on Gambling

Six-year ban on gambling set to be lifted in Ukraine as government drafts new legislation.

Ukraine is likely to become the next Eastern European country to have the fully regulated gambling market as the country’s government have plans to make gambling legal again.

The former Soviet republic had a strong casino industry before the nation chiefs surprisingly decided to ban all forms of gambling in the country.

Six-year Gambling Ban Will Soon be Lifted

Nevertheless, the latest reports suggest that the government is ready to review the current situation and develop the best possible strategy for introducing casino gaming, sports betting and other popular forms back to Ukraine residents.

Ukrainian gaming professionals are delighted with the latest developments and have already organised a Game On: Bringing Gambling Back to Ukraine conference that will be held at the Hilton Hotel Kyiv on October 13-14.

Businessman Glyn Thomas, who is behind the said event, believes that the Eastern European country has the potential to become one of the world’s leading gambling markets.

This is due to the fact that a number of IT companies that are heavily involved in the gaming industry already operate out of Ukraine, with the country also home to some high-profile software providers for the gaming operators.

Casino Industry Used to Employ Over 200k People

Before the 2009 ban on gambling, the country’s gambling industry employed more than 200,000 people, with another 150,000 working in other support businesses.

Ukraine government seem to believe that the time has come for the country to use best practises from other countries that already have a regulated market and introduce legislation that would make land-based and online casinos, sports betting and online gambling legal.

The upcoming gaming conference in Kyiv will serve as a great opportunity for the government officials to learn how the country could profit from the regulated gambling market, and also learn about the issues and challenges Ukrainian gaming companies are faced with every day.

Ukraine prime minister, Arseniy Yatsenyuk, admits that the country needs to review its existing gambling legislation and create a regulated market that would have a positive effect on the economy, labour market and tourism in the country.

There is clearly a political will in Ukraine to make gambling legal again and it is now only a matter of time before the new gambling legislation becomes effective.