Scope Of  Gambling And Casinos In Ukraine

If you are a casino lover and planning to choose your next travel destination, you must plan to visit Ukraine. It is a worthwhile place to enjoy natural beauty, attractive tourist spots, museums, and have fun at the most appealing Ukraine casinos.

Ukraine is the second-largest country in Europe. It welcomes more than 10 million tourists per year. It is a good country to visit as it is not much expensive and offers a complete fun package for visitors. If you want to know the reasons to choose Ukraine casinos for an exciting experience, keep reading this article.

The History of Ukraine Casinos

Ukraine has remained in the limelight for casinos and gaming dens since the beginning. It was always famous for providing the most luxurious and extravagant casinos that facilitate the gamers and gamblers by offering good bonuses on victories, discount tickets, and much more. People around the world used to travel to Ukraine to enjoy the experience its casinos had to offer.

Things were exciting and enjoyable until an ill-fated incident hit the gambling halls. There was a fire in the gambling hall in May 2009 in Dnipropetrovsk that took the life of nine people and left many injured. After the incident, several bodies of the society demanded a ban on the gambling zones, and the government imposed a ban on casinos, gambling including online casinos. The Ukrainian Parliament passed the law “On Prohibition of Gambling Business in Ukraine”, and the president of Ukraine, Viktor Yushchenko approved the law on June 23, 2009. Under the action of this law, all gambling halls and casinos were forced to close on June 25. The law was not applicable to lottery tickets.

It was the moment of downfall for the casino businesses and hospitality industry throughout Ukraine. The law was to significantly impact the number of travellers visiting the country each year.

The “After-the-ban” Period

Ukraine economy relies on restaurant and hospitality businesses. To keep it moving, the Parliament had to present a new law within three months to monitor the operations at gambling dens and casinos, but it could not happen due to the unstable socio-economic condition of the country.

Moving forward to 2010, a draft law, “On Gambling Organization and Maintenance of Gambling Activities in the Special Gambling Zones.” law was made public in November 2010 was made public, and the state proposed to establish the state-owned National Gambling Operator to control the casinos and regulate gambling activities. And also issue licenses for all private gambling operators. At a slow pace, the Ukrainian Gaming Congress held its first official meeting on September 29, 2015, in Kiev, the capital of Ukraine.

The Beginning of New Era

After a period of 11 years, Ukrainian president Volodymyr Zelensky sign a new law to uplift the ban on casinos and running gambling all across the country. The law is named “ On State Regulation of Organising and Conducting Gambling.”

Under the action of this law, only legal entities, both foreign and local registered investors, will be allowed to operate gambling organizations. The operator should not be a shareholder in other countries which are currently blacklisted by the FATF ( Financial Action Task Force). The gambling operator must share capital of a minimum of USD 1.1 million. In addition, the operator must have a deposit account in a Ukrainian bank and obtain a guarantee of USD 1.2 million. For online operations, they must have a domain in their name.

The Ukrainian government has also put rules and regulations on the people who are into gambling. People younger than 22 years are not allowed to gamble. However, they can play the games and enjoy various other activities that are being offered in the Ukraine casinos. After this law, all the closed casinos are getting a new life, and they are equipping themselves with modern facilities to host entertainment programs and long gambling sessions with new enthusiasm. People look forward to joining the leading casinos, especially the Kiev casinos.

The Bottom Line

Ukrainian history tells that casino business, and gambling had been a good source of entertainment and income for the country. However, Ukraine casino business has faced a real downfall for the last 11 years. Now, after the approval of the new law, the ban is lifted, and people prospect a fortune from casino businesses.

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