Belarus Adopted Law Legalizing Online Casinos
On 7 August 2018, the President of the Republic of Belarus Alexander Lukashenko signed a decree on the legalisation of online casinos in the country, which triggered a wave of positive feedback from the citizens.
The corresponding decree No. 305 determines taxation, licensing specifics and terms to improve regulation of gambling activity in the country. From now on, to open an independent gambling project in Belarus, a businessperson must obtain an official license and have a security deposit on a particular bank account to guarantee prize payouts to the players and payment of state taxes in the event of financial insolvency.
In addition, changes to the gambling laws of the country stipulate an age limit. Thus, persons under the age of 21 are prohibited from gambling, as well as to visit land-based and online casinos. As to land-based casinos, their owners are obliged to install a CCTV system to monitor visitors and control payouts to players.
The document to contribute to the development of online gambling in Belarus as a self-regulated industry and to help minimise the money transfers abroad, which will result in national treasury enrichment.
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