Expanded regulations on gambling activities in Belarus
Belarus Tightens Screws on Gambling Industry: A Breakdown of the Latest Regulatory Measures
In an effort to modernize and regulate the gambling sector, Belarusian authorities are set to implementing new measures, as hinted by Minister of Taxes and Duties, Dmitry Kiyko. This comes as a response to the surging popularity of online gambling and the need to combat illegal activities. Let's delve into the key aspects of these regulatory changes.
Strengthening Existing Restrictions
Kiyko explains that the ongoing changes are not revolutionary but rather a systematic consolidation and clarification of the existing rules governing the gambling industry. The new presidential decree will bring structure to the hitherto scattered prohibitions and limitations found in various decrees and instructions.
Targeting Foreign Online Casinos
One significant addition to the forthcoming decree is the introduction of stringent financial controls targeting foreign gaming operators offering their services outside the jurisdiction of the Republic of Belarus. This move forms part of the government's initiatives to combat illicit gambling activities and protect consumers. Unlicensed online casinos will remain blocked due to their illegal status.
Embracing Digital Technologies and Cryptocurrencies
The increasing reliance on digital technologies and innovative payment solutions has prompted the inclusion of provisions focused on regulating the use of cryptocurrencies in the domestic gambling arena. Cryptocurrency usage will be allowed but under strict legal controls intending to minimize the gray market and prevent bypassing national legislations.
Shifting towards Online Gambling
The Belarusian gambling market is rapidly gravitating towards online platforms. Today, around 70% of all transactions stem from virtual gambling establishments, capturing the attention of international gamblers. In 2018, foreigners accounted for an insignificant share of the market, but by 2024, this number increased fivefold, amounting to approximately 16% of all participants.
Promoting Responsible Gambling
In spite of the burgeoning gambling market, the government plans to uphold socially valuable initiatives aimed at fostering responsible gambling. To that end, Belarus intends to ban gambling establishments from offering credits, loans, or advances to customers. Mandatory additional checks will also be implemented to verify bank card ownership and other payment methods used by gamblers, in a bid to minimize instances of using falsified cards.
(Enrichment Insights - Selected Use)
- The government plans to introduce measures to protect vulnerable individuals, including the option to request gambling blocks for relatives deemed susceptible to addiction*.
- Belarus is contemplating a ban on cross-border payments related to gambling with foreign operators, with an aim to maintain gambling revenues within the country and safeguard licensed local operators*.
- The government is mulling over stricter regulations on online operators to ensure local investments*.
What about stricter measures to regulate entertainment in the form of online gambling to protect vulnerable individuals, possibly including the option to request gambling blocks for relatives susceptible to addiction?
To combat illicit gambling activities and protect consumers, could the government consider imposing strict financial controls on entertainment providers such as foreign online casinos, potentially pondering a ban on cross-border payments with them to maintain gambling revenues within Belarus and safeguard licensed local operators?
