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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.
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NBA Odds: Resurgent Clippers Face Warriors in Oakland -
After a much-needed lineup shuffle, the Los Angeles Clippers (29-27 SU, 35-21 ATS) carry a four-game SU and ATS winning streak into Thursdayís game against the best team in the NBA, the Golden State Warriors (47-9 SU, 27-27-2 ATS). Tip-off is at 10:30 PM ET on TNT.
PokerStars.CZ has launched in the Czech Republic -
PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republicís new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.
Sunbets to Sponsor Sutton United -
Online betting operator Sun Bets has inked a one-off sponsorship deal with English association football club Sutton United for its upcoming televised clash against Arsenal FC in the FA Cup fifth round tie.
Time is Money Slot Launches -
Set to a catchy tune, Time is Money offers a free spins bonus where all wins are multiplied by up to x12 by a random multiplier, selected from the time traveling clock.
ArenaCube Signs 3 New Deals -
Under their strategic partnership, ArenaCube and Kiron will develop and launch a new version of Arena Challenge in 2017. The new version of the game will carry Kironís virtual content.
First Woman to Win a WPT Playground Championship -
Besting a field of 380, in the C$3,500 buy-in event, Zajmovic beat Jean-Francois Bouchard in heads up play, pocketed the C$261,000 first prize and a seat in the season ending WPT Tournament of Champions.
NHL Odds: Oilers-Blackhawks at the United Cente -
Fans at the United Center will be treated to a potential Western Conference playoff preview this Saturday when the upstart Edmonton Oilers visit the Chicago Blackhawks. The puck drops at 7 PM ET on WGN.
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