iGN has partnered with experts from OnlyFacts, a new Russian-language database from our friends at 4H Agency, to continue our series on key GEOs. The second issue focuses on Ukraine, highlighting essential data.
Market Volume and Economy:
- $379 million β GGR in 2024 (estimate by 4H)
- $164.6 billion β country GDP
- 37.8 million β population
According to OnlyFacts, Ukraine is one of the most profitable markets in the region, continuing to refine its regulations following legalization in 2020.
Legal Status:
- Licenses are available across all online verticals and in the B2B segment for local and foreign providers.
- Key requirements for licensees include registration in Ukraine, a minimum capital of $675,000, a guarantee deposit of $1.4 million, and operation through a single domain.
- The industry is regulated by Law 768-IX dated July 14, 2020, and Cabinet resolutions.
- The key regulator is PlayCity.
License Costs:
- $5.8 million β online betting
- $1.2 million β online casino
- $973,000 β online poker
- $58,400 β B2B
Payment Infrastructure and Promotion:
- Main payment methods include P2P and card acquiring.
- Facebook and Google are the most effective promotion channels.
Key Brands (Licensees):
- Vbet β iGaming operator
- GGPoker β poker operator
- Cosmobet β iGaming operator
- First β iGaming operator
- Betking β iGaming operator
OnlyFacts Recommendation:
Consider Ukraine as a promising but strictly regulated jurisdiction, where growth is possible only with strict adherence to regulatory requirements and readiness to operate under constant oversight. Be aware of serious advertising restrictions, despite the rare opportunity for legal placement with a license. Prepare for close scrutiny from PlayCity, including blockages, fines, license suspensions, and digital monitoring. Take into account the formal nature of certification and the limited objectivity of software, RNG, and platform checks when selecting suppliers and laboratories. Address payment infrastructure issues in advance, as interactions are effectively limited to banks, and connecting new operators remains complex and selective.
OnlyFacts offers detailed analytics on 25 GEOs, with new countries added regularly. Free trial access to the database is available, and a 10% discount on subscription applies with the promo code ign10.