Gambling Business Ban Takes Effect In Ukraine
The law text was published in the Holos Ukrainy (Voice of Ukraine) newspaper, official paper of Verkhovna Rada on June 25.
According to the law, gambling business and participation in gambling are restricted in Ukraine.
The law also envisions that gambling business states for activities of organizing gambling games in casinos, via slots, bookmaker's offices and virtual casinos, that are provided to obtain profits.
Gambling as the law states is any game that envisions betting, getting wins, the result of which fully or partially depends on a chance.
The law fixes that gambling games may not refer to organization and holding of lotteries, sport events, art contests, billiards and other games that do not envision any prizes. Gambling games cannot also refer to free lotteries, that advertise goods and services, for charity, entertaining and educational purposes and playing crane-machines, the prize of which is only material object.
Moreover, the law obliges entities organizing and holding gambling businesses to pay fine of 8,000 tax-exempt min personal incomes (UAH 5 million) with the following confiscation of gambling equipment.
According to Ukraininan news, the law was vetoed by President Viktor Yuschenko on June 4th, however, the Verkhovna Rada managed to overcome it on June 11.
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