Uzbekistan Market Takes Shape with Unique Opportunities for an Early Foothold
Published March 31, 2021 by Lee R
Operators now have a golden opportunity to get a foothold in Uzbekistan's emerging market.
The Slotegrator news site reports that sports betting opportunities are being leveraged by the Republic of Uzbekistan to bring some added revenue to its sporting programs, which can't be soon enough for the region's players.
History of Legislation
The story dates to 2019, when the government of Uzbekistan decided to legalize sports betting to boost the country’s overall sports industry, through a November presidential decree "On measures to bring the football development in Uzbekistan to a new level" published on the Republic of Uzbekistan portal.
Supporting Local Sports
The decree declared the intent to legalize the sportsbook industry with tax revenues from betting businesses invested in the development of the country's sports institutions starting with football, with the bill completed within months, and the legal and regulatory framework projected to come into effect in 2021.
Current Opportunity
With Uzbek players known to be quite active in offshore casinos and sportsbooks, now is the time for offshore operators and domestic entrepreneurs to get a jump on iGaming’s latest emerging market.
Pillars of Motivation
The government is highly motivated to curb revenue outflow to the black markets; while the Football Federation of Uzbekistan seeks additional financial support to bolster Uzbekistan's international sporting competitiveness.
Final Details
The development of the Uzbekistan betting market stands to attract new sponsors and new financial investments to local sport, pending establishment of licensing for foreign companies and protective play limits including betting limits and consecutive lost rounds.
IR Component
Popular tourist destination Muynak is being fitted for an IR project as well, with a dedicated gambling zone for foreign tourists, at least until Uzbekistan opens gambling to its citizenry.
Outlook
Czech Republic aggregator and gaming think tank Slotegrator's offer to facilitate entry into Uzbekistan through free sales manager consultations appears an ideal opportunity for domestic and offshore operators to gain the first footholds Uzbekistan's emerging market within a greater growing region.
