A lot of time has passed since the signing of the law on the legalization of the gambling business in Ukraine, but only in February, 2021, the first organizations began to receive the desired licenses. One of these companies turned out to be Parimatch — the company was able to get approval for online betting.
However, in March, 2021, the Gambling Commission of Ukraine approved their application for a Parimatch license to conduct offline betting. The organization met all the requirements, the necessary checks were passed. Parimatch also paid all licensing fees, while proving that they comply with all the rules of a transparent business environment.
Why is it so hard to get a sports betting license
According to the legislation, there is a list of requirements that must be met in order to obtain approval. At the same time, it should be noted that at the moment there are many online casinos operating on the territory of Ukraine, which also do not mind getting a license. Moreover, the number of organizations continues to grow, which means that in the near future other Ukrainian bookmakers will also receive approval. Among the most problematic criteria, bookmakers single out the following:
- Incorrect execution and submission of documents — errors of a technical nature, the execution of an incomplete package of documents, or the lack of necessary copies of documents confirming the compliance of the gambling zone with the laws of Ukraine are taken into account;
- High cost — for an online casino, you need to immediately pay a contribution to the treasury for 5 years in advance, which is more than 560 million hryvnias;
- Complete transparency of business conduct — in addition to all copies of documents confirming the legality of the enterprise, all equipment must also be certified in accordance with the law.
It is because of these reasons that many continue to conduct their activities exclusively online. Some of the bookmaker companies are registered and operate abroad, but they also attract a Ukrainian audience. Their great advantage is the lack of binding to a specific place, and the bonuses of the bookmaker’s offices allow you to expand the client audience and gain the trust of users.
Despite the stringent requirements, the Parimatch company was able to obtain a license primarily due to the high quality of services on the market. Without a sufficiently high level of technological development, it will be difficult for other companies to compete with organizations that have already received a license. The management of the casino claims that they have to launch their brand in very difficult conditions. There is no gambling market in Ukraine, and it will have to be built from scratch. The main difficulties are the issues of financial monitoring and unregulated tax burden. The company does not yet know how to work with them.
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Last modified: September 2, 2021