Ukraine’s New Lottery Regulation and Licensing Change
Ukraine is aiming to regulate its lottery market to prevent any grey market operations. Currently PlayCity is the country’s gambling regulator and they are leading this initiative. This new framework will include electronic reporting as well as a new licensing system. These measures will ensure that the industry is transparent and secure.
In previous years, Ukraine’s lottery industry lacked licensing and proper tax monitoring. This shift towards monitoring and regulation is due to a scandal involving iGaming operators with Russian connections. PlayCity believes that the new lottery license will be the legal framework for conducting state lotteries. With the new introduction of mandatory electronic monitoring, there will be real-time tracking of all sales as well as payouts.
To make Ukraine’s lottery even more legitimate, each lottery ticket and terminal will hold a unique QR code. This will confirm the legality of the equipment and location pickup. The tender process will open until the 29th of December and invites all Ukrainian companies to take part. Any firm interested must have 3 years of experience in the market and operate with a .ua domain, hold capital exceeding UAH 30 million, and not be connected to the Russian Federation.
This new regulatory overhaul is a new dawn for Ukraine’s lottery sector. It will improve on the outdated processes and is expected to bring the lottery into the economic mainstream. It will also offer all participants a fair and transparent playing field.
