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Article by Viktoriya Zakrevskaya. Founding member of the Ukrainian Gambling Council and Vice Chairwoman for Communications
Viktoriya is taking the stage on October 31 at the InterContinental Warsaw at the European Gaming Congress, by Hipther to discuss the emerging Ukrainian market for iGaming at the Panel: “The Greek Odyssey”, La Dolce Vita”, La Fiesta Espanola”, The Ukrainian Spirit”, and The Portuguese Fado.
The gambling and gaming industries are dynamic. Change is the one constant. It’s time to acknowledge that the Ukrainian gaming industry has survived the war and is now back on the global agenda. I have gathered my thoughts from discussions with leaders in the industry, policymakers and experts about the major trends in the gambling industry in Ukraine and internationally.
The Increasing Popularity of Sports Betting
The popularity of sports gambling is growing, and it has captured the attention of fans around the world. Responsible gambling has not only become a hot topic, but an industry requirement. Further restrictions on advertising is a trend that is growing across all jurisdictions. Ukraine does not lag behind in this respect. The Commission launched a collaboration agreement last month between the major government institutions and the industry leaders, represented by the Ukrainian Gambling Council. This is all about ensuring that the gambling industry thrives responsibly.
AI for enhanced customer experience and protection
Artificial Intelligence has become a powerful tool in the gambling industry. It is expected to improve customer experience and significantly enhance player protection. By implementing AI-driven system capable of detecting problem behavioral patterns, industry can mitigate risks associated with compulsive gaming. Ukrainian companies have already begun to adopt AI in response to the trend towards legalization.
Cyber threats and online gambling
New challenges are posed by the migration of gambling platforms from the real world to the virtual one, including the Metaverse. Cybercrime is a growing threat, which often comes from identity theft. In this rapidly changing landscape, there is an increasing need for strong cybersecurity measures. There will be a high demand for solutions in this area, and companies with Ukrainian roots are already offering such solutions.
Ukraine has been a leader in the global legalization trend
Gambling is becoming more and more legalized around the world. Many countries, such as Brazil, Latin American countries, Canada, Middle East and Central Asia are opting for regulation. The motives of these countries range from rationalizing this sector to minimising societal risks and creating revenue sources. Ukraine’s decision aligns itself with this international trend despite opposition from illegal operators and Russian aggression.
Central Asia to replace Ukraine as the new home of Ukraine?
Gambling legalization is gaining momentum in neighboring Georgian and Central Asian nations. These nations are increasingly leveraging foreign investments flowing into their gambling industries. Experts suggest, however, that the country’s attractiveness for investors will return once the conflict in Ukraine subsides. For Ukrainian policymakers, it is important to address issues such as tax regulation and implement a robust monitoring system online in order to facilitate this transition. The issue of sanctions against operators such as Parimatch Ukraine must also be resolved. Public hearings are crucial in this process, because the global community, including experts, professionals, and investors, do not understand the decision. Only the government is able to explain the decision and, if necessary, admit any mistakes.
To conclude, The gambling and gaming industries are experiencing a global revival, and Ukraine with its reforms initiated in 2019 stands among the leading nations in this transformation. Ukraine needs to intensify its anti-corruption efforts in order to capitalize on the momentum.
