Ukrainian President Issues Deadlines to Legalize Gambling

5.09.2019, 15:10

It’s less than a month ago since President Volodymyr Zelensky made his interest in making gambling legal in Ukraine. He was speaking in Turkey where he hinted about pushing for the legalization of the gambling industry, especially in five-star hotels. Since then, the president has given orders to various departments of government and the parliament about the framework of legalizing gambling. He was specific about the timeline of the legislation process. The leader wants the entire procedure to be completed before December 1, 2020.

While meeting with his cabinet ministers, the parliament, and law enforcement officers, Zelensky outlined ordered the officials to commence the legalization process. He wants the government wing to “prepare bills on the legalization of the gambling industry.” The bills should be tabled in parliament before October 1, 2019. Besides, the leader requires his officers also to formulate bills for “amber production,” which should run alongside gambling legislation.

The country’s Prime Minister Oleksiy Honcharuk and Finance Minister Oksana Markarova were tasked with the responsibility that would make the legalization of the two industries implemented. A stern deadline has been set as well – December 1, 2019.

The two leaders would then pass the button the Verkhovna Rada (Ukranian Parliament) chairman Dmytro Razumkov and David Arakhamia, who would receive the bill in parliament. Zelensky’s actions seem to be involving the entire leadership of the country.

Ukrainian Gambling Background

The Ukrainian leader wants to focus on legislation that would allow the reintroduction of gambling in his country. Gambling was prohibited in Ukraine back in 2009, but it occurs that the illegal operation is taking place secretly. The worst part is that the operators don’t remit taxes to relevant authorities.

Zelensky sees the gambling industry as an avenue for strengthening the tourism sector in his country. The betting activities are expected to be more predominant in the coastal area of the Black Sea. He doesn’t view Turkey as a rival in the business but as a partner that can help the sector to nourish.

According to the Ministry of Finance, gambling activities have the potential of contributing to about US$200 million to the budget annually. However, other financial experts are convinced that making gambling lawful could see the country realize more than US$ 400 million.