Belarus is all geared up to formulate a new legal framework for gambling and online casinos in the country.
The Belarusian Tax and Duties Ministry has pieced together a draft decree allowing online gaming that is currently waiting for the green light from Parliament.
The Head of the Ministry, Sergey Nalivaiko, has revealed that as well as opening he door to online gaming, the proposed new laws would also increase age limits for entering casinos from 18 to 21 years.
He said: “At this stage, considering the planned legalisation of online gambling and additional investments needed to organise a new type of activity in the gambling business, the Ministry of Taxes and Duties does not plan any changes in the taxation policy of this activity.”
An online sector in Belarus could generate €5.1m in tax within the first three years of being launched.
The gaming market as a whole is in need on reinvigorating in Belarus. Last year one of its leading operators, Olympic Entertainment quite the country, closing down its casino there. Another leading casino, U Admirala, owned by Novo BR, one of the founders of the casino industry there has applied to the courts for bankruptcy proceedings having failed to pay its taxes.
There are currently106 companies who own gambling licenses in the country with five companies set to open casinos, slot halls or sports betting offices in Minsk, Polotsk, Brest, Grodno and in Dubrovno.