Daily Archives: February 22, 2021

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Most Canadian online casinos are carrying bonuses of some kind or another. Many will provide you with a welcome bonus when you first join, and this may require a deposit or not. Top casinos will continually reward you with promos and bonuses long after you stop being a new player to keep you entertained throughout your time at their site.

Oddly enough, there is more to casino bonuses than just stacks of cash. Do not get us wrong we like bundles of free spins and cash. However, these mean next to nothing if the terms and conditions attached to these bonuses are not fair, too. Claiming an offer with bad conditions will be detrimental to your casino gaming experience rather than benefit it. What should you look for then?

Before playing at any Canadian online casino, read through the terms and conditions attached to each offer (as tedious as that process is) and ask yourself these six simple questions.

The wagering requirements attached to bonuses is hugely important. Casino bonuses that have hefty playthrough rates (also known as rollover requirements) mean that you will have to re-wager much of what you win multiple times before you can withdraw those winnings. For this reason, we would not recommend claiming any casino bonus which has wagering requirements of over 40x the bonus amount. A few casino bonuses out there are wager-free, and that is great. However, they tend to be worth considerably less than offers that have fair playthrough rates.

Unless you claim a no deposit bonus, you will likely have to deposit to claim an offer. The amount you are required to pop into your account can vary from offer to offer, never mind casino to casino. Cash and free spin bonuses worth small sums will typically only need a minimum deposit of $10. More extensive offers can ask for $20 to $25. Only high-roller bonuses should require a minimum deposit of hundreds, if not thousands of euros.

You might think that you can use your casino welcome bonus to play anything and everything that a site has to offer. That will most likely not be the case, though. Live casino bonuses can usually only be used on live dealer games. Slots are typically fair game with most rewards. However, it is worth noting that some slot games are exempt from bonus offers, and this usually means progressive jackpot titles. Similarly, free spin deals may be valid on a single game, a selection of games, the titles from one providers portfolio, or many of them. For this reason, it is worth checking the terms and conditions before you claim an offer.

It is unlikely that you are going to be able to win millions with casino bonuses. Many offers come with specific terms relating to how much you are permitted to win with free spins. Usually, progressive jackpot prizes are out of the window, to begin with. How much you are entitled to win with your casino bonus is vital because it plays an essential role in determining whether an offer is worth claiming in the first place or not at all.

Just because you win several thousand dollars with a casino bonus does not mean that you can cash out all those winnings. Some casinos are sneaky in that they will let you win vast sums but limit the amount of winnings from bonus funds that you can withdraw. For this reason, you should once again check a bonus offers terms and conditions to ensure that maximum cashout caps are reasonable in comparison to the bonus you receive and the amount you can win with it.

You will not always get your bonus immediately. Some casinos have wagering requirements attached to their offers and will immediately let you play with your bonus funds as soon as you deposit. Other casinos initially look like they have no wagering requirements on their bonuses. In reality, though, you will unlock your bonus over time rather than being given it straight away. The amount you wager (within a timeframe) determines how much of your bonus is unlocked. In other words, this process is precisely the same as having a promo with wagering requirements, the only difference being that you will not get to play with the bonus straight away.

However, when you do unlock the offer, the funds are not credited as bonus cash but as real money. This means that you can withdraw anything you win with unlocked bonuses, as you have technically already fulfilled the wagering requirements on them.

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Guide to Online Casino Bonuses in Canada - Off The Bench - Off The Bench Baseball

CHICAGO--(BUSINESS WIRE)--Rush Street Interactive, Inc. (NYSE: RSI) (RSI), one of the most trusted and fastest-growing online casino and sports betting companies in the United States, today announced that it has secured market access opportunities in Ohio, Maryland and Missouri.

RSI has entered into a strategic partnership agreement with Penn National Gaming, Inc. (Nasdaq: PENN) (Penn National). Under the terms of the agreement, RSI will have the ability to offer its award-winning BetRivers.com real-money online casino and sports betting platform for up to 20 years in Ohio, Maryland and Missouri through potential second skins in each of those states, subject to license availability, state law and regulatory approvals. Upon and following the launch of the skins, RSI will compensate Penn National with industry-standard payments for market access.

We are pleased to gain potential market access to three new states as we continue the execution of our strategy to gain access and bring our best-in-class online gaming offerings to key markets across the United States, said Richard Schwartz, president of RSI. The addition of Ohio, Maryland and Missouri to our market access portfolio, specifically, builds on RSIs success in neighboring states and will create enhanced marketing efficiencies for our BetRivers.com brand. We continue to engage in productive dialogue with industry participants, such as tribal and commercial casinos and other stakeholders, to further our expansion into new states. We expect to continue entering into additional market access arrangements in the future, as other opportunities arise.

RSI currently operates online gaming sites available for customers to play today in eight states with a combined population of more than 68 million, including Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, Pennsylvania and Virginia. Taken together with our ability to access markets under applicable regulations or potentially access them through our existing market access deals for online gaming in New York, Ohio, Maryland, Missouri and West Virginia, RSI now has the potential, with first or second skins, to access online gaming markets reaching more than 35% of the U.S. population. In addition to its industry leading real-money online casino and sports betting offerings, RSI offers immersive social gaming options and provides tailored retail wagering services to in-casino sportsbooks. RSI is the market leader in the three most populous states that have legalized retail sports betting: Illinois, Pennsylvania and New York.

Additionally, the agreement provides RSI with a right of first offer for a potential skin in Texas through Penn National subject to, among other things, state law and regulatory approvals.

About RSI

Founded in 2012 by gaming industry veterans, RSI is a market leader in online casino and sports betting in the U.S., currently operating real-money gaming in nine U.S. states. RSI launched its first online gaming site in New Jersey in September 2016, and through its BetRivers.com and PlaySugarHouse.com sites, RSI was the first to launch regulated online gaming in Colorado, Illinois, Indiana and Pennsylvania. RSI was named the 2020 Global Gaming Awards Digital Operator of the Year, and the 2020 EGR North America Awards Casino Operator of the Year and Customer Service Operator of the Year. RSI has been an early mover in Latin America and was the first U.S.-based gaming operator to launch a legal and regulated online casino and sportsbook, RushBet.co, in the country of Colombia. For more information, visit http://www.rushstreetinteractive.com.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. RSI's actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, RSI's expectations about its strategic partnership with Penn National, its potential future operations in the states covered by that partnership and its future performance there, and its expectations about obtaining additional market access throughout the United States. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside RSI's control and are difficult to predict. Factors that may cause such differences include, without limitation, changes in applicable laws or regulations, unanticipated product or service delays, and other risks and uncertainties indicated from time to time in RSIs most recent proxy statement, including those under "Risk Factors" therein, and in RSIs other filings with the SEC. RSI cautions that the foregoing list of factors is not exclusive. RSI cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. RSI does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

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Rush Street Interactive Secures Online Casino and Sports Betting Market Access Opportunities in Ohio, Maryland and Missouri - Business Wire

Reading Time: 4 minutes

After significant and protracted deliberations, Ukraine finally legalized gambling activities back in 2020. The Law on the governance of the organization and carrying out of gambling activities became effective almost half a year ago. As of the date of writing this article, already 3 licenses have been granted to online casinos for their gambling activities to be performed in the future.

There is still a number of issues and, despite all efforts, the gambling market seems to be standstill except for the mentioned minor movements by local online players obtaining licenses. As of now, it seems that no big international market players are entering the newly born Ukrainian gambling market. So, let`s discuss whether it is all going somewhere and if that somewhere is in the right direction.

Ukrainian gambling market background

To see a broader picture, one should unveil the historical background of the current gambling market legalization in Ukraine. First of all, its worth mentioning that the Ukrainian gambling market has been actually reopened, but not developed from scratch.

The previously operating Ukrainian gambling market was not so much a success story as one might imagine. There were no huge and fancy casinos like in Las Vegas, but rather a market consisting of different establishments, some of them even legal and compliant. They were shut down by decisive moves of the state authorities in 2009 due to the lack of comprehensive regulations and effective control over their execution, which irreversibly led to negative consequences. As a result, the mentioned flaws contributed to the growth of black and grey gambling services markets. Moreover, the lack of strict rules and their enforcement also formed a public opinion that the gambling market was something antisocial and dirty. Ukrainians still remember well those times when slot machine halls literally surrounded public transport stops and were filled with some not exactly wealthy people giving up their last money in pursuit of a snatch.

At that time, Ukrainian authorities decided to use muscles instead of brains and banned all gambling activities instead of introducing reasonable regulation and taking the situation under control. Thus, starting from mid-2009, all gambling operators were forced to leave the wild, but rapidly growing market. However, as one may guess, the Ukrainian gambling ban was not far from the Prohibition in the United States in terms of its results. Ukrainian gambling market simply went undercover, depriving the Ukrainian budget of significant contributions previously made by the industry.

What are the current challenges for the Ukrainian gambling market?

Not so long ago, a logical step was taken by Ukraine and the gambling activities ban was lifted. However, same as in the case with the Ukrainian land market, things are not perfectly smooth and there are still some obstacles in place.

For instance, while three online casinos have already paid for and received licenses, they still can`t fully realize and enjoy the rights of an online casino operator. The reason is that the necessary regulations applicable to certification of the equipment to be used in casinos haven`t been adopted yet. Additionally, there is still a certain lack of clarity in terms of taxation of gambling activities. Some say that a specific volume-based tax will be introduced. However, considering that the licensed operators can`t get any revenues in the absence of the regulations to certify their equipment, the issue of taxation seems to be too far to think about.

Apart from that, one should note that this time Ukrainian government decided to seriously take advantage of the gambling market by imposing comparatively high license fees, financial thresholds, and location requirements (for offline casinos). For instance, the license fee is around USD 1.1 million for online casinos (for 5 years) and USD 10 million for offline casinos if based in Kyiv (additional equipment fees will also apply). Moreover, a gambling operator must have a share capital of at least USD 1.1 million and a deposit account or Ukrainian bank guarantee for USD 1.2 million.

As to the location requirements, under the new legislation, casinos can be opened only at 5-star hotels with at least 150 rooms in Kyiv, 4- and 5-star hotels with at least 100 rooms in other regions, out-of-town resorts with a total area of at least 10,000 m2 or special gaming zones within territories to be further defined by the Ukrainian government.

Under the new law, various restrictive regulations of a similar character also apply to betting, slot machine halls, and online poker activities.

Opportunities and additional obligations for Ukrainian gambling operators

It is worth mentioning that there are some opportunities for the new market players. The new law provides that such players may obtain investment licenses. Holders of such licenses will be exempt from license fees for 10 years if they build a new 5-star hotel with at least 200 rooms in Kyiv or 150 rooms in another Ukrainian region.

Ukrainian gambling operators will be also obliged to follow certain gambling standards and policies aimed at preventing gambling addiction. The government plans to launch a state-owned online monitoring system. The system will perform a real-time oversight and control of the Ukrainian gambling industry.

To sum it all up, its an important aspect that different people might make different conclusions as to the above. Pessimists might claim that this time, the gambling market launch in Ukraine has little chance to become interesting for the largest international market players. However, if evaluated by opportunists, entering the Ukrainian gambling market is definitely worth a shot.

High financial thresholds and strict regulations ensure that the market will not slip into putting dirty slot machines centered around metro stations. It is more likely that the Ukrainian gambling industry will at least somehow resemble what one may observe in wealthy locations like Las Vegas. This puts confidence into the minds of potential investors because the government will not be in a position to cut its own leg by banning a well-governed and budget-supporting industry.

The readiness of the local online casino market players to pay for the licenses which can`t be yet used proves the above statement to be true. It also leads to a conclusion that gambling investors should already be on their way to Ukraine in order to be in a time when the market starts to operate and extreme profits flow into the hands of the few pioneers.

This article has been created with the help of Oleksandr Aleksyeyenko (Partner at Marchenko Partners) and Sviatoslav Henyk (Senior Associate at Marchenko Partners)

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Continued here:

AAMS Casino the safe online casinos for Italian Players - European Gaming Industry News

With two new deals recently signed a long-term agreement with GiG and a multi-year partnership with Ocean Casino Resort PlayStar Casino is making good headway towards its stated ambition to become a player-favorite in the US. We spoke with Co-Founder and Executive VP Adam Noble to find out more about the firms progress stateside.

By way of introduction to our readers, tell us about the PlayStar brand and its offer.

PlayStar Casino has been developed to offer an online casino experience like no other to players across the US. The team behind PlayStar Casino has a proven track record of building successful, disruptive businesses and we aim to replicate this with PlayStar Casino by launching the brand into regulated states across the US.

In order to compete in a competitive market, we know we need to bring something different to the table and that is what we plan to do with PlayStar Casino

How will the company differentiate itself in what is becoming a crowded marketplace?

In a market where all of your competitors are offering the same content and experience more or less, the differentiation has come down to strength of brand and of course very aggressive acquisition strategies.

With PlayStar Casino our focus will be to deliver value to the player, by putting personalization, engagement, and exemplary customer service at the heart of our proposition and this will allow us to differentiate in the market.

We want to deliver an engaging and immersive experience to players from the moment they walk through our digital doors, and to also reward them for choosing PlayStar Casino as their preferred online casino.

Other brands are not doing this to the same level that we have planned, so this will be a big point of difference between PlayStar Casino and our competitors.

How far down the line are you with the application for getting licensed in New Jersey and can you talk us through some of the challenges in going through that process?

In anticipation of securing market access, all key personnel and business entities have completed the application forms and prepared the necessary supporting documentation. The milestone for submission came with the signing of our market access agreement with Ocean Casino Resort we were able to submit to the DGE a few days after signing with Oceans, so we are in great shape there.

As far as challenges, I think an obvious one is not being able meet the regulator face to face in the current climate, but there are ways around that. And of course, the process in general is extremely rigorous, and so it should be given the nature of the business. We are prepared for that and look forward to working through the process with the DGE.

What were the biggest takeaways from your market research efforts in the US?

This was a really interesting process, we sort research far and wide, commissioning specific reports on the US and specifically New Jersey online casino markets, and referencing reports focused on broader consumer habits in the rapidly changing digital world we live in.

There were many takeaways, not least the number of operators in the market focused on acquiring market share at any cost for their own valuation, with less focus on value to their players.

This question is specific to Joel Wikell, Group Founder and Chairman. How different are things this time around from your experiences back in the 90s and is there anything you learned then that would apply to the business today?

Putting the technology aside for a moment, that has obviously advanced beyond comprehension, I believe the biggest difference is regulation. Back in the early days it really was the wild west, with little governance ensuring operators ran an honest operation. Todays regulatory environment ensures a safer environment for the player, which is paramount, but also for the security and stability of the business.

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PlayStar Casino: focusing on a new approach to the US gaming market - SBC Americas

Although Borgata Casino is not available in Pennsylvania at this moment in time, its launch is imminent.

The parent company behind the Borgata online brand (Entain, formerly GVC Holdings) has already launched BetMGM PA offering casino games and sports betting, and they have the option to launch two more brands under the same license: Borgata PA and Party Casino PA.

In New Jersey, the company operates all three brands, BetMGM NJ, PartyCasino NJ, and Borgata NJ, so it stands to reason that Borgata Casino Pennsylvania will be joining the regulated state market in the near future.

While there is no exact information as to what players can expect once Borgata PA goes live, we can make some solid assumptions based on what the company offers in New Jersey and what is available on BetMGM PA, currently the only operational PA casino brand from Entain.

On this page, you will find a variety of useful information on what to expect once Borgata Casino PA goes live in terms of bonuses, available games, payment methods, etc. We will do our best to keep the page fresh and up to date as the actual launch date is revealed and more information becomes available.

The company is yet to give the exact timeframe for the launch, but we believe it will happen in February 2021.

What is important to note is that they already have the necessary license issued by the Pennsylvania Gaming Control Board (PGCB), so the legal side of the matter has already been resolved. At this point, it is the matter of the technical implementation and feasibility.

At the moment of writing this, the Borgata online brand specifically is available only in New Jersey. Of Entains brands, the most wide-spread is BetMGM, which offers online casino games in four US states, namely:

Looking at the NJ site, players in Pennsylvania can probably look forward to a welcome bonus package consisting of two parts. There should be a small no deposit offer to try the games with no risk involved, and a standard match bonus on the first deposit.

The free portion of the bonus should be available to the players after they complete the registration process and verify their identities. You will most likely be able to use this money to play all your favorite casino games without many restrictions, but when the time comes to cash out (if you get lucky), you will first need to deposit.

The other part of the welcome offer consists of a 100% match on your very first deposit. Borgata Casino PA will match your first deposit in full, up to the maximum of $600, giving you extra funds to play your favorite games and get acquainted with the site.

Of course, it is entirely possible that Borgata Casino Pennsylvania comes up with a different welcome offer when they announce the launch date. We are basing this information on what we know so far.

Borgata Casino NJ gives players a chance to participate in their M life Rewards program and players in Pennsylvania will likely enjoy the same benefits.

As you play online, you will collect valuable Tier points, which can be exchanged for cash and bonuses in the online store, but you can also use them at various land-based locations that belong to the same group.

M life Rewards program features four distinctive tiers, each one featuring better and more valuable rewards:

Looking at BetMGM PA and Borgata Casino NJ, PA casino players should have access to a decent selection of games from different categories.

Slots are the most popular gaming category at online casinos and players from Pennsylvania can look forward to a colorful portfolio once Borgata PA goes live. There will be a few hundred titles on offer, featuring popular games from the likes of IGT, NetEnt, Big Time Gaming, WIN Studios, Ainsworth, Everi, and more.

Games featuring a progressive jackpot always attract a lot of attention because of their potential to produce massive win regardless of the stakes played. Borgata Casino PA will likely offer a decent number of progressive slots like IGTs Cleopatra, NetEnts Mercy of the Gods, and WIN Studios titles such as Spin Bandit, Fire Drake, and The Win Genie.

Having partnered up with Evolution Gaming, the company offers an excellent range of live dealer games across its brands and Borgata PA will be no exception. Fans of live action should have access to games like roulette, blackjack, Casino Holdem, Three Card Poker, Ultimate Texas Holdem, Dream Catcher, and more.

The selection of deposit and withdrawal options for the players at Borgata PA should be quite similar to what is available at BetMGM PA.

To fund your account, you will probably be able to use:

For withdrawals, the number of options is somewhat more limited:

As for the withdrawal process, all requests are subject to a security review. You can expect your request to be approved within 48 hours, but it can take longer, depending on the amount and whether or not there are any additional documents you might need to send over to the casino.

Since players from New Jersey can play from their phones with no problems, there is no reason to think anything will be different in Pennsylvania. The casino offers mobile apps for iOS and Android users alike and you should be able to download them from the relevant stores or straight from the Borgata site.

Whether you play from your computer or your phone, you will need to be physically present within the PA state borders to play for real money. The Wire Act currently prohibits online gambling operators from offering their services across state borders.

To make sure you are adhering to the laws, regulated casinos in the States use geolocation technologies. This means that you will likely have to allow location access to the Borgata Casino PA app when playing from your phone.

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Borgata Casino Pennsylvania FAQ - all the information you need ahead of the launch of Borgata Casino Pennsylvania. - Pokerfuse

The global gambling market reached a value of $53.7 billion in 2019, having grown steadily for many years.

Forecasts suggest a compound annual growth rate of 11.5% between 2020 and 2027, with the online sector accounting for a significant proportion of this.

Increased internet penetration, coupled with advances in software making online gaming more like visiting a live casino, are drawing in thousands of new customers.

Slot machines have always been a huge part of the casino experience and in the US, slot machines account for an estimated 70% of casino revenue on average.

Anyone entering a casino can immediately see the percentage of floor space dedicated to slot machines, which is a testament to the popularity of the genre.

As gaming has moved further online, casino websites also dedicate much of their platform to the provision of a multitude of slots games, mimicking the layout of brick-and-mortar casinos.

There are even sites exclusively dedicated to slots games, appealing to the millions of people who enjoy fast-paced games of chance.

With more people than ever before playing online and new technologies allowing for greater realism, software designers are innovating online slots games that allow the user to experience the thrill of the casino from the comfort of their own homes.

The slot machine industry has a broad appeal, with myriad gaming options to attract almost every demographic.

Consumers can opt for simple, traditional three-reel games, themed versions featuring characters and scenes from popular culture, complex new variations, and more, all with top of the range graphics, immersive sounds, and impressive gameplay.

There are hundreds of slot games to choose from, with providers such as Wink Slots having a wide range of wink slot machines on offer to their players, all with different themes and winning jackpot prize amounts.

Anyone who has ever visited a casino in person will know what a huge role slots games play.

Online offers the same experience, but with the added convenience of being able to play from anywhere at any time, particularly with more online casinos now offering sites optimised for mobile.

Players who enjoy the concept of slot machines but either do not have easy access to a casino or prefer to play from home can now enjoy a huge variety of games wherever and whenever they wish.

Many players are attracted to online play because of tempting incentives such as new player bonuses, which allow free play with the potential to win real money or offer prizes and loyalty schemes for regular players to benefit from.

Many sites offer a certain number of free spins to new players and further free spins for those that play every day.

The catalogue of games is another attraction playing online means users have access to hundreds of variations, if not thousands, and can use their free spins to experiment with lots of different games to find the ones they prefer.

Of the reasons cited by people who prefer visiting a physical casino to playing online as to their preference, the atmosphere and, the interactions with other people are two of the most common.

Software developers making online games are now utilising technologies such as augmented reality, virtual reality, live chat, and artificial intelligence to recreate that experience online.

Gameplay has also advanced from the classic three-reel game to cascading slots with unique graphics and hundreds of ways to win.

Todays online slots players can sit virtually side by side with friends, converse with others while playing, and enjoy all the social aspects of visiting a casino from their homes, workplaces or anywhere in the world.

Online slot machines have penetrated social media, with free to play social slots games that provide a fun, interactive gaming experience with friends.

Software companies are increasingly working to mimic the physical casino experience in an online environment and the technology is improving all the time.

Different slot machines come with different variance levels, meaning there is something for everyone regardless of their tolerance for risk.

Low variance games typically pay out often, but in small increments and with smaller jackpots.

High variance game players may find themselves spinning for hours with rarely a winning combination, but the thrill of knowing that if they do hit the jackpot, the sum of money they win could be life-changing.

Progressive jackpot slots games offer players the opportunity to try and win prizes than can reach millions, should they be one of the lucky few to hit a winning combination.

Whichever variance level players prefer, the opportunity to make money while playing games is undoubtedly a large part of the appeal of slots games both online and off.

The current Guinness World Record for the largest ever single online slots payout stands at $20,057,734 for the Mega Moolah progressive jackpot game.

Visiting a physical casino can be an exciting event, form part of a celebration or holiday or simply something different to do on a night out.

People will always want to visit casinos occasionally even if they enjoy playing online.

However, the advent of online and mobile slots games has drawn in millions of new players around the world and provided regular players with a new and more convenient outlet.

Read the original post:

Slot machines: has online become the most popular way to play? - Mancunian Matters

Reading Time: 4 minutes

After significant and protracted deliberations, Ukraine finally legalized gambling activities back in 2020. The Law on the governance of the organization and carrying out of gambling activities became effective almost half a year ago. As of the date of writing this article, already 3 licenses have been granted to online casinos for their gambling activities to be performed in the future.

There is still a number of issues and, despite all efforts, the gambling market seems to be standstill except for the mentioned minor movements by local online players obtaining licenses. As of now, it seems that no big international market players are entering the newly born Ukrainian gambling market. So, let`s discuss whether it is all going somewhere and if that somewhere is in the right direction.

Ukrainian gambling market background

To see a broader picture, one should unveil the historical background of the current gambling market legalization in Ukraine. First of all, its worth mentioning that the Ukrainian gambling market has been actually reopened, but not developed from scratch.

The previously operating Ukrainian gambling market was not so much a success story as one might imagine. There were no huge and fancy casinos like in Las Vegas, but rather a market consisting of different establishments, some of them even legal and compliant. They were shut down by decisive moves of the state authorities in 2009 due to the lack of comprehensive regulations and effective control over their execution, which irreversibly led to negative consequences. As a result, the mentioned flaws contributed to the growth of black and grey gambling services markets. Moreover, the lack of strict rules and their enforcement also formed a public opinion that the gambling market was something antisocial and dirty. Ukrainians still remember well those times when slot machine halls literally surrounded public transport stops and were filled with some not exactly wealthy people giving up their last money in pursuit of a snatch.

At that time, Ukrainian authorities decided to use muscles instead of brains and banned all gambling activities instead of introducing reasonable regulation and taking the situation under control. Thus, starting from mid-2009, all gambling operators were forced to leave the wild, but rapidly growing market. However, as one may guess, the Ukrainian gambling ban was not far from the Prohibition in the United States in terms of its results. Ukrainian gambling market simply went undercover, depriving the Ukrainian budget of significant contributions previously made by the industry.

What are the current challenges for the Ukrainian gambling market?

Not so long ago, a logical step was taken by Ukraine and the gambling activities ban was lifted. However, same as in the case with the Ukrainian land market, things are not perfectly smooth and there are still some obstacles in place.

For instance, while three online casinos have already paid for and received licenses, they still can`t fully realize and enjoy the rights of an online casino operator. The reason is that the necessary regulations applicable to certification of the equipment to be used in casinos haven`t been adopted yet. Additionally, there is still a certain lack of clarity in terms of taxation of gambling activities. Some say that a specific volume-based tax will be introduced. However, considering that the licensed operators can`t get any revenues in the absence of the regulations to certify their equipment, the issue of taxation seems to be too far to think about.

Apart from that, one should note that this time Ukrainian government decided to seriously take advantage of the gambling market by imposing comparatively high license fees, financial thresholds, and location requirements (for offline casinos). For instance, the license fee is around USD 1.1 million for online casinos (for 5 years) and USD 10 million for offline casinos if based in Kyiv (additional equipment fees will also apply). Moreover, a gambling operator must have a share capital of at least USD 1.1 million and a deposit account or Ukrainian bank guarantee for USD 1.2 million.

As to the location requirements, under the new legislation, casinos can be opened only at 5-star hotels with at least 150 rooms in Kyiv, 4- and 5-star hotels with at least 100 rooms in other regions, out-of-town resorts with a total area of at least 10,000 m2 or special gaming zones within territories to be further defined by the Ukrainian government.

Under the new law, various restrictive regulations of a similar character also apply to betting, slot machine halls, and online poker activities.

Opportunities and additional obligations for Ukrainian gambling operators

It is worth mentioning that there are some opportunities for the new market players. The new law provides that such players may obtain investment licenses. Holders of such licenses will be exempt from license fees for 10 years if they build a new 5-star hotel with at least 200 rooms in Kyiv or 150 rooms in another Ukrainian region.

Ukrainian gambling operators will be also obliged to follow certain gambling standards and policies aimed at preventing gambling addiction. The government plans to launch a state-owned online monitoring system. The system will perform a real-time oversight and control of the Ukrainian gambling industry.

To sum it all up, its an important aspect that different people might make different conclusions as to the above. Pessimists might claim that this time, the gambling market launch in Ukraine has little chance to become interesting for the largest international market players. However, if evaluated by opportunists, entering the Ukrainian gambling market is definitely worth a shot.

High financial thresholds and strict regulations ensure that the market will not slip into putting dirty slot machines centered around metro stations. It is more likely that the Ukrainian gambling industry will at least somehow resemble what one may observe in wealthy locations like Las Vegas. This puts confidence into the minds of potential investors because the government will not be in a position to cut its own leg by banning a well-governed and budget-supporting industry.

The readiness of the local online casino market players to pay for the licenses which can`t be yet used proves the above statement to be true. It also leads to a conclusion that gambling investors should already be on their way to Ukraine in order to be in a time when the market starts to operate and extreme profits flow into the hands of the few pioneers.

This article has been created with the help of Oleksandr Aleksyeyenko (Partner at Marchenko Partners) and Sviatoslav Henyk (Senior Associate at Marchenko Partners)

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Excerpt from:

Playtech: New Live Casino and RNG partnership with 888 - European Gaming Industry News

Reading Time: 4 minutes

After significant and protracted deliberations, Ukraine finally legalized gambling activities back in 2020. The Law on the governance of the organization and carrying out of gambling activities became effective almost half a year ago. As of the date of writing this article, already 3 licenses have been granted to online casinos for their gambling activities to be performed in the future.

There is still a number of issues and, despite all efforts, the gambling market seems to be standstill except for the mentioned minor movements by local online players obtaining licenses. As of now, it seems that no big international market players are entering the newly born Ukrainian gambling market. So, let`s discuss whether it is all going somewhere and if that somewhere is in the right direction.

Ukrainian gambling market background

To see a broader picture, one should unveil the historical background of the current gambling market legalization in Ukraine. First of all, its worth mentioning that the Ukrainian gambling market has been actually reopened, but not developed from scratch.

The previously operating Ukrainian gambling market was not so much a success story as one might imagine. There were no huge and fancy casinos like in Las Vegas, but rather a market consisting of different establishments, some of them even legal and compliant. They were shut down by decisive moves of the state authorities in 2009 due to the lack of comprehensive regulations and effective control over their execution, which irreversibly led to negative consequences. As a result, the mentioned flaws contributed to the growth of black and grey gambling services markets. Moreover, the lack of strict rules and their enforcement also formed a public opinion that the gambling market was something antisocial and dirty. Ukrainians still remember well those times when slot machine halls literally surrounded public transport stops and were filled with some not exactly wealthy people giving up their last money in pursuit of a snatch.

At that time, Ukrainian authorities decided to use muscles instead of brains and banned all gambling activities instead of introducing reasonable regulation and taking the situation under control. Thus, starting from mid-2009, all gambling operators were forced to leave the wild, but rapidly growing market. However, as one may guess, the Ukrainian gambling ban was not far from the Prohibition in the United States in terms of its results. Ukrainian gambling market simply went undercover, depriving the Ukrainian budget of significant contributions previously made by the industry.

What are the current challenges for the Ukrainian gambling market?

Not so long ago, a logical step was taken by Ukraine and the gambling activities ban was lifted. However, same as in the case with the Ukrainian land market, things are not perfectly smooth and there are still some obstacles in place.

For instance, while three online casinos have already paid for and received licenses, they still can`t fully realize and enjoy the rights of an online casino operator. The reason is that the necessary regulations applicable to certification of the equipment to be used in casinos haven`t been adopted yet. Additionally, there is still a certain lack of clarity in terms of taxation of gambling activities. Some say that a specific volume-based tax will be introduced. However, considering that the licensed operators can`t get any revenues in the absence of the regulations to certify their equipment, the issue of taxation seems to be too far to think about.

Apart from that, one should note that this time Ukrainian government decided to seriously take advantage of the gambling market by imposing comparatively high license fees, financial thresholds, and location requirements (for offline casinos). For instance, the license fee is around USD 1.1 million for online casinos (for 5 years) and USD 10 million for offline casinos if based in Kyiv (additional equipment fees will also apply). Moreover, a gambling operator must have a share capital of at least USD 1.1 million and a deposit account or Ukrainian bank guarantee for USD 1.2 million.

As to the location requirements, under the new legislation, casinos can be opened only at 5-star hotels with at least 150 rooms in Kyiv, 4- and 5-star hotels with at least 100 rooms in other regions, out-of-town resorts with a total area of at least 10,000 m2 or special gaming zones within territories to be further defined by the Ukrainian government.

Under the new law, various restrictive regulations of a similar character also apply to betting, slot machine halls, and online poker activities.

Opportunities and additional obligations for Ukrainian gambling operators

It is worth mentioning that there are some opportunities for the new market players. The new law provides that such players may obtain investment licenses. Holders of such licenses will be exempt from license fees for 10 years if they build a new 5-star hotel with at least 200 rooms in Kyiv or 150 rooms in another Ukrainian region.

Ukrainian gambling operators will be also obliged to follow certain gambling standards and policies aimed at preventing gambling addiction. The government plans to launch a state-owned online monitoring system. The system will perform a real-time oversight and control of the Ukrainian gambling industry.

To sum it all up, its an important aspect that different people might make different conclusions as to the above. Pessimists might claim that this time, the gambling market launch in Ukraine has little chance to become interesting for the largest international market players. However, if evaluated by opportunists, entering the Ukrainian gambling market is definitely worth a shot.

High financial thresholds and strict regulations ensure that the market will not slip into putting dirty slot machines centered around metro stations. It is more likely that the Ukrainian gambling industry will at least somehow resemble what one may observe in wealthy locations like Las Vegas. This puts confidence into the minds of potential investors because the government will not be in a position to cut its own leg by banning a well-governed and budget-supporting industry.

The readiness of the local online casino market players to pay for the licenses which can`t be yet used proves the above statement to be true. It also leads to a conclusion that gambling investors should already be on their way to Ukraine in order to be in a time when the market starts to operate and extreme profits flow into the hands of the few pioneers.

This article has been created with the help of Oleksandr Aleksyeyenko (Partner at Marchenko Partners) and Sviatoslav Henyk (Senior Associate at Marchenko Partners)

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