Organizers of bookmaking activities in Ukraine

Corporate law
Дєдов Євгеній
04.02.2022
Law Services - Organizers of bookmaking activities in Ukraine

  PLAYAN FAN INVESTMENT LLC and VBET UKRAINE LLC became the new licensed organizers of bookmaking activities in Ukraine.
Thus, on January 18, 2022, the Commission for the Regulation of Gambling and Lotteries (KRAIL) adopted decisions № 13 and № 15 on the issuance of licenses for the organization and conduct of bookmaking activities.
It will be recalled that for almost a year, the only licensed organizer of bookmaking activities in Ukraine was PARIMATCH LLC, which received the relevant license in early March 2021.
Fan Sport started its operations in 2016 and operated under an international license. Currently, the bookmaker has received an official address in the UA domain zone and has started accepting bets on the fan-sport.ua website. At the same time, PLAY FAN INVESTMENT received a license to organize and conduct casino gambling on the Internet.
VBET was launched in 2003. The company operated online on the basis of an international license. At the end of May 2021, VBET UKRAINE LLC also received licenses to conduct poker gambling on the Internet and online casino gambling.
Thus, we currently have three licensed organizers of bookmaking activities in Ukraine.In accordance with the provisions of the Law of Ukraine “On state regulation of gambling activities” (hereinafter – the Law) the organizer of bookmaking is a legal entity resident of Ukraine, which on the basis of the license has the right to organize and conduct bookmaking activities in bookmakers and / or on the Internet.
Article 54 of the Law stipulates that the relevant license is issued for 5 years, and the amount of payment for it is 30,000 (thirty thousand) minimum wages. At the same time, the minimum wage from January 1, 2022 is UAH 6,500.
At the same time, it should be remembered that until the day of commissioning of the State Online Monitoring System, the annual equal part of the license fee for organizing and conducting bookmaking activities, organizing and organizing gambling activities on the Internet, as well as the annual slot machine fees are paid in triplicate.
The law distinguishes the following forms of bookmaking activities: in bookmakers and through the Internet, which have their own peculiarities of implementation. The Law also regulates the conditions, procedure, restrictions on the organization and conduct of bookmaking activities, the rights and obligations of the organizers, as well as the procedure for acceptance, refund of bets and payment of winnings (prizes) based on the results of the bet.It should be noted that the state budget for the year of operation of the legal gambling market in Ukraine received more than 1.4 billion hryvnias in revenues from the relevant license fees.
At the same time, according to government forecasts, the expected level of revenues from royalties in 2022 to the special fund of the state budget is about UAH 1.19 billion.