Global gambling trends and Ukraine

The global gambling market is undergoing a significant transformation, with online gambling becoming the dominant segment. This process, which accelerated with the outbreak of the COVID-19 pandemic, not only maintained its momentum after the end of the pandemic, but also gained new momentum. At the same time, tax revenues from the gambling business are growing, making this industry an important source of revenue for the budgets of many countries. How do these global trends affect Ukraine and what are the prospects for the Ukrainian market?

Over the past five years, online gambling has been growing steadily. The pandemic became a catalyst when offline casinos were closed and players moved online en masse. According to analysts, by 2029, the share of the online segment will exceed 35% of the global gambling market, with an average annual growth rate of 10.7%. This shift is explained by ease of access, technological innovations (mobile gaming, VR, AI), and improved regulatory frameworks in developed countries.

As the online gambling audience grows, so do government revenues. In 2024, global online gambling revenues are estimated at tens of billions of dollars, and by 2029, iGaming winnings could exceed $240 billion. Legal organisers pay income taxes, licence fees, and other charges, which contributes to economic stability and provides funds to finance programmes to prevent and combat gambling addiction.

The domestic gambling market is developing in line with the global trend towards online gambling, but this development has its own peculiarities. The full-scale war accelerated the transition of the Ukrainian gambling business to online, as the offline segment suffered significant losses due to the hostilities. Domestic gambling companies are actively developing digital platforms, integrating modern technologies (AI for analysing player behaviour, quick verification through Diia, etc.).

In terms of state budget revenues, Ukraine is also in line with the global trend of increasing revenues from the legal gambling market. Thus, in 2024, the state budget received UAH 17 billion in taxes from the gambling business, which is UAH 6.6 billion more (1.6 times) than in 2023 (UAH 10.4 billion).

The growth potential is still there - Ukrainian gambling has room to grow. And this development should take place in the direction of integration into the global gambling market. Ukraine has a chance to become a regional leader in online gambling if it adapts its legislation (fiscal and regulatory, first and foremost) to global standards.

I would like to remind you that cooperation with GREF (European Regulators Forum) and the exchange of data on gambling organisers have already begun, which facilitates this integration. At the same time, the introduction of VR, blockchain for transparent transactions, and mobile applications will make Ukrainian platforms competitive on a global level. The development and implementation of modern gambling addiction prevention programmes will help balance economic benefits and social risks.

To summarise, I would like to emphasise once again that the global gambling industry is moving online, and this trend offers both opportunities and challenges for Ukraine. To maximise the benefits, Ukraine needs to accelerate its integration into the global industry, improve regulation and invest in modern technologies. In this way, the gambling business can become not only an economic driver, but also an example of successful adaptation to modern global trends and their driver.