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Ukraine Online Gambling License Will Be High Priced
Sunday December 6,2015 : UKRAINE'S NEW ONLINE GAMBLING JURISDICTION COULD BE EXPENSIVE
First draft lifting six-year ban indicates that licensing costs will be high.
Ukraine's first moves towards lifting a six-year ban on gambling, including internet activity do not offer much cause for optimism; the first draft of the enabling legislation published this week suggests that licensing and operational costs will be high, although it should be noted that these are early proposals and adjustments may follow debate and consultation.
The draft released by the Ministry of Finance calls for the establishment of a national gambling regulator, which it will control, and a requirement that online operators base their activities in the country.
Operators will additionally have to show that they have secured capital of a minimum Euro 2 million over and above any borrowed funds.
Online gambling operators face a tax of 20 percent of GGR and a hefty annual licensing fee of Euro 1.5 million...substantially more than that proposed for the highest bracket of land casino operators (based on the population of the city in which they are situated), who will be charged Euro 1 million a year.
Online bookie firms will be required to pay a Euro 300,000 annual licensing fee, and if they have land operations they will also have to cough up a Euro 1.5 million annual licensing fee, and up to Euro 3,000 per venue in respect of land retail shops (again depending on the size of the city in which these are located.)
The legislation makes provision for one national lottery, but again the requirements are stiff and require local registration. Companies interested in running the lottery will have to satisfy the regulator that they have five years of international experience and have historically generated over Euro 3 billion in turnover in those operations.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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