Ukraine's attempts to lift a ban on gambling could be costly for casino operators, as the first draft of a bill to regulate online and land-based gaming revealed that licensing and operational costs could be quite high.
Under the draft language, operators in the Ukraine will have to show a minimum of secured capital worth €2 million, pay taxes of 20% on Gross Gaming Revenue, and pay a license fee of up to €1.5 million. Sportsbooks will pay a €300,000 fee, and €1.5 million if they have a land operation and €3,000 per retail betting site.
The high cost of entry may prevent online betting sites from entering the market legally, and could potentially result in firms operating in an offshore and gray market capacities.
Casino Listings will update this story as more developments arise.