LOTTERIES UKRAINE

Ukraine – Alexander Tretyakov wringing out the lottery market?

Officials started the game in the redistribution of the lottery market. One monopoly can win, and the population of Ukraine and the state itself can lose. The lottery business was at a crossroads. And from the current regulatory processes depends on whether the industry will have a chance to develop or it will be given to the private monopolist.

In fact, the future fate of the market that can bring billions in revenues to the country’s budget is being decided, as well as to fulfill an important social function for the population and support the development of infrastructure projects in Ukraine.

The matter is that the Cabinet of Ministers is considering a draft of licensing conditions for lottery operators. The development of this document is provided by the Law “On State Lotteries in Ukraine”, adopted in 2012.

This act regulated the basic rules and requirements for lottery activities and contained an instruction to the Cabinet to develop the necessary by-laws, including clear and clear License terms for lottery operators. However, the officials did not hurry to get down to business, and the process dragged on for almost five years.

Recall: the first licenses were issued in the early 2000’s, before the adoption of the profile law. They were given out for 12 years to four operators: MSL, UNL, Patriot, and Oschadbank.

The term of validity of those licenses expired, but the state allowed the operators to work until, in accordance with the requirements of the profile Law, new license terms will not be adopted. The companies operating on the market hoped that the new license conditions would create rules of the game no worse than those in force in 2000.

But this, by all accounts, will not happen. The first doubts among the market participants were caused by the fact that on May 5 the Ministry of Finance announced on the website the draft of the License terms, not warning anyone about anything.

If the goal was to create transparent rules of the game in the lottery market, the Ministry of Finance could invite existing operators, world and Ukrainian experts to discuss the project at the stage of its creation, take into account their suggestions and comments.

But this was not done. Like in many other cases, the state preferred to act unilaterally…….

More: redaxe.media

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