Expert: “Ukraine is the most effective country in launching a gambling market

Boris Baum, the first deputy head of the Advisory and Expert Council of the Gambling and Lottery Regulation Commission of Ukraine (GRAIL) at the Kiev exhibition “Gaming Industry” told about the achievements of the regulator for the year after the signing of the decree on the legalization of gambling in the country. The functionary also voiced the existing problems of the market and named the mechanisms of its improvement.

According to Baum, the efficiency of the CRAIL is proven by the speed of processing applications from operators interested in local jurisdiction. He noted that on February 2, 2021, the body issued the first official license to launch online casinos in Ukraine, while the land-based sector received permission only in May. However, this did not prevent the state budget from receiving almost 1.5 billion hryvnias in proceeds from the sale of gambling licenses.

“Other countries take nine months to review applications, and sometimes this period can be exactly twice as long. But CRAIL has developed tools that can significantly speed up the process. With us it takes only five to ten days,” said Boris Baum.

He also noted that today Ukraine is the most effective state in the world in terms of launching a gambling market. This, he said, was achieved due to the high speed of KRAIL.

Boris Baum added that in the regulator’s plan for 2021 on the volume of tax collections from representatives of the gambling business was set to collect at least 1.5 billion hryvnia.

“As of today the plan is almost fulfilled. We managed to earn UAH 1 439 000 000 from the sale of licenses. At the same time so far three permits, 409 slot machines and one land-based gambling establishment are waiting to be paid for. Accordingly, we will be able to exceed the plan at the beginning of next year. We are proud of our work and the efforts that have been made by our friendly team to ensure competent and effective legalization.”

The official said that one of the tasks of KRAIL is the construction of modern tourist resorts in Ukraine with casinos, which previously did not exist in this country.

Recall that the head of the Ukrainian Gambling Council is sure that the adoption of the tax law is waiting for all representatives of the legal market of gambling.