The Kyrgyz Committee on Budget and Finance parliament has discussed new considerations concerning the country’s bill ‘On the activity of bookmakers and totalizators in the Kyrgyz Republic.’ The document provides for the organization of the state regulation of bookmakers, licensing and monitoring of the business operations.
To obtain a license, entrepreneurs need to collect a mandatory cash reserve of 300,000 soms for bookmakers (around 200,000 rubles) and 10,000 for totalizators (around 6,500 rubles). Other provisions of the bill require the payment of winnings on bets no later than five calendar days after the results of sports events have been announced.
The document allows the taking of bets via terminals operated with the use of an electronic payment system in the equivalent of the national currency of the Kyrgyz Republic. Players must provide their passport details at a registration stage and they can only have one account as part of the online betting service. The bill also proposes to set a minimum players’ age of 18 years, but the Kyrgyz parliament committee debated whether to raise the bar to 21 years. In addition, it proposed to exclude such terms as ‘bingo hall,’ ‘bingo lottery,’ ‘gambling’ and allow the placing of wagers solely on the outcome of sporting events. It is supposed that the revised document will be referred for further consideration in the New Year.