Ukraine Issues First Licence to Launch the Regulated MarketPublished March 28, 2021 by Lee R
A new region looks ripe with the Ukraine market issuing its first licence.
The first sports betting licence in the Ukraine is now official!
Parimatch is now proudly in possession of a green light to offer legal wagering in the emerging iGaming market that has just opened.
The newly formed Ukrainian Gambling Commission KRAIL issued the licence, after Parimatch received approval for the sports betting licence from the Ukrainian Gambling Commission (KRAIL) last week.
Locked and Loaded
The licence is now officially issued, with all required licence fees paid and final technical checks completed and in place.
Parimatch Global Leader Speaks
Parimatch chief executive Sergey Portnov was ebullient, saying his company is “first in the market not only in quality of services and level of technological development but also in compliance with the rules of a transparent business environment.”
Home At Last
Sergey further reminded all of the pleasure and value of this grand homecoming as his organisation sees it:
“Parimatch was born in Ukraine, and we are happy to finally officially return and help develop the industry in our home country. Legalisation of the gambling business will help Ukraine generate funds for the budget and distribute them where they are always needed.”
Local Parimatch Leader Speaks
Local Parimatch Ukraine chief executive Natalia Gilevich expressed gratefulness to be offering sports betting in the country where Parimatch was founded, indicating that the homecoming represented both “a particular challenge and significant responsibility for us, so we will provide the Ukrainian audience with the best the gambling industry can give the player.
Gilevich expressed her eagerness to help make the Ukraine the leading regional platform for the Eastern European market.
The new Ukraine Gambling Commission carried out its first regulatory responsibility in kind, reminding Ukraine players that the only Parimatch site licensed in the country is its dot.ua operation.
History of Legislation
Ukraine's new regulations legalising online gambling; bookmaking; slot halls and land-based casinos located in hotels were signed into law in August 2020 by the president--after Ukraine parliament Verkhovna Rada passed the bill in a 248-95 vote at July's second reading of Ukraine's gambling act.
The implementation of gambling in Ukraine is an inspiring example of how an ambitious emerging jurisdiction can harness social benefits that can help an entire region.