Here's the latest regulatory update from the world of gambling: Ukraine's Ad Ban Impact on Media Market
Last week, we reported that Ukraine banned gambling advertising, and now the economic impact is becoming clear. The media market is expected to lose over 500 million UAH (around $12.5 million) due to this ban. Television broadcasters are projected to lose approximately 400 million UAH ($10 million), radio might lose between 100 million and 150 million UAH ($2.5 million - $3.8 million), and the internet marketing sector could see a loss of up to 100 million UAH ($2.5 million).
But the advertising ban isn't the only measure being taken. Within the next month, the National Bank of Ukraine will limit P2P transfers to combat illegal gambling. Individuals will be allowed to make no more than 30 such transfers per month, with a total transfer limit of 100,000 UAH (around $2,500).
Montenegro Tightens Payment Regulations
Montenegro has also updated its gambling legislation, effectively banning modern electronic payment methods such as Apple Pay, PayPal, mobile banking, IPS, and electronic banking services.
Kyrgyzstan Considers Easing Ad Restrictions
In contrast, Kyrgyzstan is considering allowing gambling advertisements, though with strict limitations. Advertising during sports events will be capped at 20% of the total broadcast time. There will also be restrictions on:
👉 Targeting minors,
👉 Promoting gambling as a source of income,
👉 Presenting gambling as a means to achieve personal success or social recognition,
👉 Making claims about guaranteed winnings.
Brazil's Licensing Deadline Approaches
As mentioned earlier, operators in Brazil must obtain a license by January 1, 2025. In an update to this, Betano has become the first company to apply for a license with the Secretariat of Prizes and Bets at Brazil's Ministry of Finance.
Lithuania's Stricter Gambling Regulations
Lithuania is preparing to tighten its gambling regulations, with the government already approving several new measures that still need to pass through additional stages. These include:
🚩 Stricter supervision of player breaks, with a designated staff member required to monitor and suggest breaks or cessation of play to problem gamblers in casinos and gaming halls;
🚩 Mandatory participation in a special platform for collecting information about players and their gambling activities;
🚩 Increased fines for rule violations, with penalties ranging from 3-5% of annual revenue for first-time offenders and 8-10% for repeat offenses. Current fines in Lithuania range from €6,000 to €50,000, which the Ministry of Finance considers ineffective since this amount is roughly equivalent to an average day's income for a gambling operator.
Stay tuned for more regulatory updates from the gambling world! 📰✨
Last week, we reported that Ukraine banned gambling advertising, and now the economic impact is becoming clear. The media market is expected to lose over 500 million UAH (around $12.5 million) due to this ban. Television broadcasters are projected to lose approximately 400 million UAH ($10 million), radio might lose between 100 million and 150 million UAH ($2.5 million - $3.8 million), and the internet marketing sector could see a loss of up to 100 million UAH ($2.5 million).
But the advertising ban isn't the only measure being taken. Within the next month, the National Bank of Ukraine will limit P2P transfers to combat illegal gambling. Individuals will be allowed to make no more than 30 such transfers per month, with a total transfer limit of 100,000 UAH (around $2,500).
Montenegro Tightens Payment Regulations
Montenegro has also updated its gambling legislation, effectively banning modern electronic payment methods such as Apple Pay, PayPal, mobile banking, IPS, and electronic banking services.
Kyrgyzstan Considers Easing Ad Restrictions
In contrast, Kyrgyzstan is considering allowing gambling advertisements, though with strict limitations. Advertising during sports events will be capped at 20% of the total broadcast time. There will also be restrictions on:
👉 Targeting minors,
👉 Promoting gambling as a source of income,
👉 Presenting gambling as a means to achieve personal success or social recognition,
👉 Making claims about guaranteed winnings.
Brazil's Licensing Deadline Approaches
As mentioned earlier, operators in Brazil must obtain a license by January 1, 2025. In an update to this, Betano has become the first company to apply for a license with the Secretariat of Prizes and Bets at Brazil's Ministry of Finance.
Lithuania's Stricter Gambling Regulations
Lithuania is preparing to tighten its gambling regulations, with the government already approving several new measures that still need to pass through additional stages. These include:
🚩 Stricter supervision of player breaks, with a designated staff member required to monitor and suggest breaks or cessation of play to problem gamblers in casinos and gaming halls;
🚩 Mandatory participation in a special platform for collecting information about players and their gambling activities;
🚩 Increased fines for rule violations, with penalties ranging from 3-5% of annual revenue for first-time offenders and 8-10% for repeat offenses. Current fines in Lithuania range from €6,000 to €50,000, which the Ministry of Finance considers ineffective since this amount is roughly equivalent to an average day's income for a gambling operator.
Stay tuned for more regulatory updates from the gambling world! 📰✨