March 13, 2023 2 min read

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Ukraine Bans Gambling Businesses for 50 Years

War-torn Ukraine has opened a new front, acting against gambling businesses that have been preying on the country

Ukrainian President Volodymyr Zelensky announced a new round of sanctions against gambling businesses in the country, which are linked to schemes worth tens of billions of hryvnias, the country’s native currency.

Gambling Companies Become Targeted by Ukrainian Presidential Decree

According to the president, more than 280 companies and 120 people were involved in these businesses and systematically worked against Ukraine’s interests. The president said that these companies had drained the Ukrainian budget and targeted consumer spending to finance various Russian-led operations and campaigns.

Ukraine, though, would not stand for it, the president assured, and said that these companies are now being shut down. Decree No. 145/2023, as the measure is known, is based on the decision of the National Security and Defense Counsel of Ukraine and came into effect on March 10, 2023, sanctioning the entities and people in question.

The measure targeted Russian citizens for the most part, but also citizens of Turkey, Cyprus, the Netherlands, Poland, and Great Britain. Among the sanctioned entities are companies that have previously worked to help Ukraine in its war effort through donations and raising funds for humanitarian aid.

Parimatch and Parimatch Foundation, along with Parimatch United Investments Limited are perhaps some of the most notable names on the list. Additionally, Sportbet, Bet.ru, BetCity, Matchbet and Sportloto have all been sanctioned for a period of 50 years.

Even prior to these sanctions, Ukraine was already working to ensure that Russian-linked or predatory gambling companies are denied access from its citizens. In the meantime, many gambling companies have been stepping up and offering their support in the war and relief efforts.

Journalist

Although Fiona doesn't have a long-spanning background within the gambling industry, she is an incredibly skilled journalist who has built a strong interest in the constantly growing iGaming network. The team at GamblingNews.com is glad to have her on our roster to help deliver the best stories as soon as they hit. Aside from writing, she loves to dabble in online casino games such as slots and roulette, both for her own enjoyment and also as research to better improve her understanding of the industry.

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