In the beginning of 2024, legal gambling organizers continue to faithfully fulfil all financial obligations regarding license payments. The established indicators of revenues to the state budget from gambling industry will be likely met this year.
For example, the state treasury received in January this year the following amounts:
- UAH 23.4 million from GAMEDEV LLC as payment for the next year of the organization and conduct of online casino gambling license term.
- UAH 511.2 thousand from FAVORIT CAZINO COMPANY LLC as payment for the first year of slot machines license term.
- UAH 766.8 thousand from FAVBET GAME SLOTS LLC as payment for the first year of slot machine license term.
- UAH 23.4 million from SPACEIKS LLC as payment for the next year of the organization and conduct of online casino gambling license term.
- UAH 23.4 million from FIRST ELEMENT LLC as payment for the next year of the validity of the license for the organization and conduct of online casino gambling.
The State Treasury Service of Ukraine confirmed the receipt of all these funds to its accounts. Therefore, UAH 71.478 million were received for the first month of the year.
Once again, I would like to note that everyone has benefited from the legalization of gambling - the state, legal businesses, and citizens. As a result of the legalization of gambling, the state receives additional revenues to the budget from gambling tax, which can be used for social and infrastructure programs. However, legal business can grow the gambling industry, creating new jobs and contributing to economic growth. Finally, citizens have the opportunity to gamble in a safe and controlled environment where their rights and interests are protected.
Therefore, the legalization of gambling can be a win-win for all parties if it is implemented with proper regulation and oversight.
The legalization of gambling under the conditions of effective state control of the processes of gambling organization has, in addition to the financial component, several additional positive aspects.
1. Reducing the size of the illegal gambling market, which leads to a decrease the intensity of economic offences and other negative phenomena associated with illegal gambling.
2. Increased protection of players: State control over gambling allows ensuring a high level of protection of players against fraud, gambling addiction and other problems related to gambling.
3. Promotion of social, educational and humanitarian programs: additional revenues from gambling taxes can be used to finance social, educational and humanitarian programs that contribute to improving quality of life of citizens.
Therefore, effective state control of gambling legalization processes can have a significant positive impact on society and the economy. Moreover, during the war, legal business also means donating to the Armed Forces of Ukraine, and the participation of companies in increasing the level of the country's defence capability.