Head of practice
Head of Corporate Law and Fintech Practice. Expert in the creation and reorganization of companies, support of M&A transactions, as well as legal support for opening and running a business in the EU, Asia, and North America.
Bookmaker’s license
Bookmaking activity is a popular line of business that attracts both entrepreneurs and customers. But in order to legally conduct such a business in Ukraine, it is necessary to obtain an appropriate license.
Licensing of bookmakers is regulated by the Law of Ukraine “On State Regulation of Activities in the Organization and Conduct of Gambling Games” (hereinafter referred to as the Law) and other normative legal acts.
In this article, we will consider the main requirements, terms of receipt and documents necessary for licensing a bookmaker.
Conditions for obtaining a license
One of the key conditions for conducting bookmaking activities is obtaining a license to organize and conduct gambling games in bookmakers.
To obtain a license, the applicant must meet a number of requirements, including:
- Legal status
The license is issued exclusively to legal entities registered in Ukraine. Individual entrepreneurs cannot obtain a bookmaker license.
- Minimum authorized capital
The applicant must have a charter capital of at least 30 million hryvnias. This amount is a guarantee of the financial stability of the company and covers possible risks.
- Location
Bookmakers must be located in specially designated places that meet the requirements of the Law, for example, in hotels of a high category or in specially designated gaming areas. It is prohibited to organize bookmaking activities in educational institutions, religious institutions and places that do not meet the requirements of the Law.
- Hardware and software
The bookmaker must use certified equipment and software that meets technical standards and ensures the transparency and safety of gambling.
- Ensuring the protection of consumer rights
Owners of bookmakers are obliged to comply with the rules of responsible gaming, inform customers about the possible risks of gambling and provide measures that prevent excessive gambling.
Necessary documents for obtaining a license
To apply for a bookmaker license, you must prepare a package of documents, including:
- Application for obtaining a license. It is drawn up in a standard form approved by the relevant state authority.
- Copies of statutory documents. Copies of the company’s constituent documents (charter, extract from the EDR, etc.) confirming the legal personality of the legal entity are attached to the application.
- Evidence of payment of authorized capital. It is necessary to submit documents confirming the presence of authorized capital in the amount of at least 30 million hryvnias.
- Equipment conformity certificates. Issuance of certificates for equipment and software that will be used to organize gambling games in a bookmaker’s office.
- Documents on financial transparency. The company must provide an audit opinion on the financial condition of the company for the previous year or other documents confirming the transparency of financial activities.
- Documents about managers and owners. Information on the ultimate beneficiaries and directors of the company must be provided, including certificates of no criminal record.
- Activity program. This is a document containing information about the location of bookmakers, their number, type of equipment and principles of operation.
Application procedure
- The application is submitted to the Commission for the Regulation of Gambling and Lotteries of Ukraine (KRAIL). All documents must be correctly executed and comply with the requirements of the Law. In addition, it is necessary to pay the state fee for processing the application.
- After submitting the documents, KRAIL checks the applicant’s compliance with the established requirements. This check includes the analysis of documents, the study of the company’s activities, as well as the check for compliance with legislation.
Terms of obtaining a license
The law establishes clear terms for considering applications. After submitting all the necessary documents and paying the fee, the Commission must make a decision on issuing a license within 30 working days. If all documents meet the requirements of the law, the license will be issued within this period.
However, in case of inconsistencies or deficiencies in the documents, the Commission may send a request for additional information or correction of errors, which may extend the term of obtaining a license. It is important to note that incorrect documentation or submission of an incomplete package may lead to a refusal to issue a license.
License validity period
A license for bookmaking activity in Ukraine is issued for five years. At the end of this period, the licensee must submit a new application for the extension of the license and pay the corresponding license fee.
In case of violation of license conditions or legislation, the Commission may suspend or cancel the license.
Obtaining a bookmaker license in Ukraine is a complex and multi-stage procedure that requires compliance with a number of conditions and requirements. Entrepreneurs must ensure compliance of their activities with legal regulations, prepare all necessary documents and undergo inspection by regulatory authorities.
A properly issued license provides the opportunity to conduct legal business and protect the rights of both entrepreneurs and consumers.
If you are looking for professional help to obtain a bookmaker license, the law firm “Prikhodko and Partners” is ready to provide you with full support at every stage.
Our lawyers have many years of experience in the field of licensing and gambling, which guarantees effective resolution of all legal issues, fast processing of documents and compliance with legal requirements. Entrust your business to professionals and get a license without too much trouble!
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