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Gambling Business and Economy of Ukraine: Benefits for the Country

27 july 2022
Online casino, Land-based solutions, Licensing
Author: James Burton
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A law on the legalisation of money games has been in force on the territory of Ukraine since the summer of 2020. Analysts of the Casino Market company will bring intermediate results and find out how the activity of legal casinos affected the Ukrainian economy.

On the official website of Casino Market, you will find not only interesting topics for discussion but also professional tools for the successful launch of a profitable legal gambling project and its effective promotion.

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The Casino Sphere as a Link in the Economic Chain

Casino business and economy in Ukraine

The functioning of any sector of the economy implies a strong connection with the related business areas, and gambling is no exception. The full-fledged work of the niche is impossible without interaction with numerous commercial structures that help with such tasks as the provision of goods and services and can resolve many other issues.

In less than 2 years, the operation of gambling projects within the framework of the law demonstrated the benefits of legalisation. A casino niche has taken a strong position in the state economic system and has had a beneficial effect on it.

Creation of New Workplaces

Thanks to the fact that the gambling market is now out of the shadows, many people have found jobs. In addition to the casino staff, the following professions are popular these days:

  • hotel administrators;
  • maids and porters;
  • restaurant business employees;
  • furniture manufacturers;
  • masters of garment production, and many others.

Representatives of various professions benefit from the introduction of the gambling business into the system of the state economic market. For example, taxi drivers now receive much more orders due to the influx of tourists from those countries where gambling is strictly prohibited.

Impact on the Budget: Results of the Last Year in Facts and Figures

The gambling industry entered 2022 with good results:

  1. More than 4 thousand licences have been issued by the Gambling and Lottery Regulatory Commission. Of these, 8 permits were for the creation of ground gambling halls and 13 certificates for the launch of online platforms. Poker websites, state lotteries, and locations with slot machines have also obtained permits. Most of the issued documents are for casino tables, roulettes and other equipment.
  2. The amount of licence fees is estimated at 1.6 billion hryvnias. The actual contribution to the public treasury from the legalisation of casinos is much larger. The real effect that the industry has on the economy of Ukraine is estimated by the state regulator at 30 billion hryvnias.
  3. In addition to the attraction of funds to the budget, representatives of the gambling market contributed to the creation of thousands of jobs and made huge investments in the infrastructure and the improvement of the IT sector.
  4. At least 17 areas of business, which are directly or indirectly related to the gambling niche, have grown significantly due to close interaction with the casino market.

Which Industries Related to Gambling are Involved in Filling the Budget

Ukrainian gambling: related industries

Let us consider in more detail those areas of the economy that had an incentive to develop due to interaction with the gambling business.

Recruiting agencies

To hire and train personnel, gambling operators involve such specialists as recruiters and HR managers. This is beneficial for both customers and contractors.

The former category saves time and resources, and the latter gets an opportunity to earn money, develop their projects, and increase the staff

Consulting services

Acquisition of a licence and establishment of a business is a multi-stage process. The procedure is not easy even if you know the nuances of the Ukrainian jurisdiction, and those, who do not, will need to spend an unreasonably large amount of time and effort.

The right decision is to rely on experienced lawyers

Specialists in the purchase and maintenance of equipment

To prepare a gambling hall for the opening, operators need to take care of a lot of things, from roulette tables and slot machines to interior details.

It is very problematic to cope with all this without involving suppliers, specialists in debugging technical equipment, and designers

Real estate agencies

The success of a project largely depends on the right selection of premises for the casino.

The building must have a favourable location in terms of cross-country ability, and the size and layout of the premises must correspond to the tasks that were set. Searching for a suitable location without turning to realtors is both difficult and risky

Repair and construction

Many operators organise gambling halls in hotels or other premises that need renovation, finishing works, and adaptation of the appearance to the standards set by licensing authorities.

Some of the entrepreneurs hire specialists for the construction of new hotels where they plan to open a casino. It is obvious that such large-scale events result in the creation of many workplaces and contribute to large flows into the public treasury

IT sphere

Online gambling projects are based on the use of software products: iGaming platforms, payment modules, and security software that ensure the functionality and performance of the gaming site.

The development of such software, as well as its launch and maintenance, require a regular influx of solid investments, which has a beneficial effect on the state budget

Marketing in the Casino Business: More than Just Advertising

The promotion of gambling services requires the creation and implementation of a high-quality advertising campaign. The cooperation of operators with PR agencies contributes to the development of both industries and has a positive impact on the state of the Ukrainian economy.

However, promotion in the gambling segment covers a much wider range of different structures and requires increased attention, so it is worth considering this aspect in more detail.

What Features Distinguish the Promotion of iGaming Services

There are several characteristics of casino marketing:

  1. A PR campaign must comply with the provisions of the Gambling Advertising Memorandum, which contains several restrictions.
  2. Proper marketing involves, in addition to traditional advertising techniques, the conclusion of sponsorship contracts. This is especially typical for the betting industry — bookmakers often act as sponsors of sports teams and specific competitions.
  3. One of the effective marketing tools is the financing of charitable and social projects. This increases the credibility of the wagering business, demonstrates its goals and intentions to the public, and forms a positive image, thus attracting not only the target audience.

Investment Contribution of Casinos to the Economic Development of Ukraine

Casino investment in Ukrainian economy

Gambling operators that work in the local market adhere to the principles of competent marketing, actively participate in the development of sports and charity events, and invest in social projects.

Parimatch Ukraine

The company concludes sponsorship agreements aimed at supporting sports and invests in staff training (based on the Parimatch Tech Academy corporate university, as well as in its training courses).

As part of the fight against ludomania, the management team cooperates with clinics where players with addiction can receive professional psychological help and plans other large-scale investment projects.

First Casino

Under the leadership of the brand, many schools aimed at training managers and croupiers have been created. Moreover, a project on combating gambling addiction is being developed in cooperation with large clinics and specialists in the field of psychotherapy.

Besides, it is planned to create at least 1 thousand workplaces. The company negotiates with universities on the possibility of creating departments for training specialists in the gambling niche, and the idea of ​​creating a hotel chain is also being considered.

PIN.UP Ukraine

The firm sees the education of players to convey the concept of responsible gambling to them as one of the key tasks. Moreover, it does not only because it is required by law but also at its initiative:

  • the company introduces effective methods of prevention of ludomania;
  • the developer works on the formation of a culture of gambling.

PokerMatch Ukraine

The brand builds an effective team of specialists and performs the following tasks:

  • investment in the professional development of employees — people are provided with an opportunity to study courses and visit thematic events and conferences;
  • provision of applicants with at least 50 more workplaces.

Moreover, the operator regularly invests in charity tournaments and projects aimed at fighting against ludomania. It also concludes sponsorship contracts to support sports.

The Main Things about the Impact of Gambling on the Economy of Ukraine

The legalisation of the casino business took place rather recently but it is already showing positive results.

  • The industry has taken a firm position in the state economic system and, in just a year, has provided an inflow of about 30 billion hryvnias to the public treasury.
  • The entrance of casinos to the official market contributes to the creation of new jobs and the development of the restaurant, hotel, and tourist industries.
  • Wagering companies are actively investing in education and the sphere of medicine, signing sponsorship contracts aimed at developing sports, and participating in charity projects.

If you want to launch a profitable casino business, obtain a licence, or order competent promotion, please contact the Casino Market studio.

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To get professional advice and assistance in the selection of suitable software products, just leave an application on our official website.

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