BetConstruct business-to-construct brand Vbet has been approved by Ukrainian gambling and KRAIL lottery regulator for a license to operate online casinos and poker in the country. With the approval of KRAIL, Vbet will become the first official online poker room in Ukraine. Ukraine banned gambling in before finally legalizing it again in 2020. Now a new ecosystem will have to be built.
Vbet receives a license to operate casino and poker in Ukraine
Founder and CEO of BetConstruct, Vigen Badalyan welcomes the opportunity to seize the moment and become a pioneer in this field. According to Badalyan, the gambling market should provide the highest quality entertainment that is legally possible to arouse interest among Ukrainian citizens. The CEO believes in responsible gambling, supporting local sports, adhering to the highest standards of business ethics, combined with creativity and passion.
Vbet Licensing and Certification Manager Seda Mkhitaryan enjoyed the approval of KRAIL. Mkhitaryan felt honored to receive official recognition from the Ukrainian Gambling and Lottery Commission. Despite the difficult times, Mkhitaryan shares Badalyan's sentiment for establishing Vbet as the leading force in the Ukrainian gambling market. Nowadays Vbet, Cosmolot and Parimatch have been officially approved by KRAIL. Vbet will now operate under the Vbet.ua domain in this country.
Gambling in Ukraine must restore the ecosystem
Gambling in Ukraine was banned due to an incident in 2009 where nine people were killed in a gambling hall in Dnepropetrovsk. Many people demanded a total ban on gambling, which finally happened when parliament passed a law banning gambling, regardless of the medium - online or stationary. Any participation in a game where people are wagering and are eligible for a prize was prohibited, with the exception of lotteries.
Gambling was re-legalized in 2020 with approval President Volodymyr Zelensky. The new law says that both local and foreign operators can organize betting games as long as they have been registered and approved by Ukrainian regulators.
Only a few months have passed since the legalization of gambling in Ukraine, and there is still a long way to go to establish a stable environment. Since 2009 did not stop people from betting illegally, now the government will have to prosecute unlicensed bookmakers to ensure a healthy future for gambling. Legal bookmakers, on the other hand, were dissatisfied with the government's indecisiveness, as the fine details of licensing and taxes are still unclear.
One thing is certain: Vbet is now joining the ranks of licensed bookmakers, whose task will be to pave the way to safe and legal gambling in Ukraine.