Unresolved problems with the tax legislation, slow fight against illegals, constant introduction of new restrictions hamper the market development and distract global companies from investing in gambling projects in Ukraine.
He emphasized that Ukraine needs to bring order to tax issues as soon as possible and create favorable conditions for the development of the legal gambling segment.
“Subject to a well-functioning regulatory framework and transparent tax policy, specialized investors are ready to invest in the Ukrainian jurisdiction, especially in online projects. And we must fight for these funds, because in the conditions of war, investments in any segment are vital. They are the external resource, which is lacking in the domestic market due to objective circumstances, but which fills the state budget and creates jobs”, – emphasized the head of UGC.
Kuchukhidze’s optimistic forecast is based on the global trends outlined in the report prepared by H2 Gambling Capital at the request of the International Betting Integrity Association and partners.
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From the document, the head of UGC concludes that gambling will be most active in North America, Europe, Asia and the Middle East. Most dynamically will grow sports betting, lotteries and casinos, especially their online segments. The average annual growth rate of the iGaming sector will be from 10.7% over the next 5 years. Already in 2029, the online segment will account for more than 35% and the volume of winnings in the iGaming segment will exceed 240 billion dollars.
“One of the main explanations for this trend is the improvement of regulatory legislation in developed markets, which increasingly prioritizes the rights of players and, in particular, their right to the payment of winnings,” Kuchukhidze emphasizes.
Therefore, in order to benefit from the global trend, all jurisdictions, including Ukraine, need to improve their business environment. Did you find the news interesting and informative? Want more of the gambling news online and stay updated on the events? Subscribe to our ‘Gambling News’ section and receive notifications about fresh publications. If you found this publication helpful and interesting, we recommend subscribing to global gambling news to receive notifications about the latest updates and stay informed about current events.
