Armenia
Armenian Gaming Forum will discuss the benefits of fantasy sports as the most profitable direction in gaming
Fantasy Sports are an extremely fashionable and profitable trend in online gaming. Being free of the legislative regulation, today this market is estimated to cost billions of dollars; moreover, it opens up new prospects for business in the CIS. Opportunities provided by the fantasy sports will be discussed at Armenian Gaming Forum, which will take place on November 19 in Yerevan http://armeniangamingforum.am/en .
What do fantasy sports mean?
Daily Fantasy Sports (DFS) involve a competition of virtual teams. It works like this: an online player has a team for example, football. Every player has a real prototype and gets points for useful actions performed in a real game: goal, scoring pass, etc. Thus, the virtual team’s scores are added together and its manager competes with other participants.
Today fantasy sports are booming. It can be compared only with the development of online poker in the early 2000s.
Is it profitable?
Those who are not yet aware of this trend will be surprised: the world-fantasy sports market is estimated at $ 4 billion (as of 2014). Only FanDuel, which is considered to be a leading website in this direction, has paid more than $ 300 million of winnings. A typical fantasy football player is not a pupil or student, but it is a man with permanent job and higher education. That is why the emerging market offers great opportunities to make a profit.
What are the advantages of fantasy sports?
The major advantage of this direction lies in the fact that it exists only online and is not the subject to legislative restrictions.
Fantasy Sports:
- do not have the stigma of gambling game; this direction was and remains legal;
- are not regulated (and therefore are not prohibited) by law and are not taxable;
- are interesting for those who are interested in sports;
- are a young industry with enormous potential.
Moreover, in contrast to North America countries, where DFS have already revealed their potential, this business is only starting to develop in the CIS being opened to investments.
The special guests of Armenian Gaming Forum, which will take place on November 19 in Yerevan, will reveal more information about the prospects offered by the fantasy sports market in Eastern Europe. The program involves the presentation of a new product by one of the DFS market participants.
The event organizer Smile-Expo has invited representatives of the legislative branch to participate in a dialogue as they influence the regulation of gaming in the country. Any participant of the forum will be able to ask about their position concerning the fantasy sports and online gambling in general.
In addition, the conference program includes reports by speakers from Europe and the CIS, the demo area with the novelties from manufacturers of equipment and software, as well as business tour to the casinos in Armenia.
Learn more http://armeniangamingforum.am/en about the event and we are waiting for you on November 19 in Yerevan!
Smile-Expo is one of the leaders and innovators in the area of conference services. The company has extensive experience in gaming conventions in various countries and actively protects the interests of gambling business in the dialogue with the authorities.
Armenia
Armenia amends gambling and advertising regulations
Armenia has amended its laws related to gambling and advertisement. As per the new regulations, only the local gambling operator will be allowed to advertise in the country.
An additional requirement is that gambling advertising should be targeted at citizens over 21 years of age. Advertising of gambling on radio and TV will be limited to 22:00 and 06:00 period of time. The penalty for violation of the law will be 1 million drams (about $ 2,067).
The Armenian government has also amended the Law on Lotteries, according to which the gambling business will be restricted to special zones of Tsakhkadzor, Sevan, Jermuk, and Meghri.
Tsaghkadzor is a city in the Koktaisk region, one of the most popular ski and climate resorts in the country which accepts tourists all year round. Sevan is a city popular with tourists due to the largest source of fresh water in Armenia – Lake Sevan. It is expected that the construction of the gambling zone will promote the development of this region. Jermuk is another resort town with at least nine hotels opened.
Meghri is a city rich in historical monuments in the south of Armenia. Due to its climate, as well as its developed infrastructure, it is potentially a successful project for the gambling and entertainment resort area.
Source: Latest News on European Gaming Media Network
Armenia
Armenia toughens stance against legal gaming
Nikol Pashinián, the prime minister of Armenia, has voiced his concerns about the “social problems in village communities” that the growing gambling activity in the country causes. He urged that “these devices should simply be removed.”
“How should we organise this in order for us to truly solve this problem accurately, this is a very important question,” the statement begins. “Overall when we look at our economic growth indicators it turns out that these gambling machines have become the leading branch of our economy.”
Then continues: “This is totally absurd, and our policy should be to change our logic: on one hand it encourages poverty, on the other hand, pardon me, [gambling addiction]”.
“We must pursue a kind of policy where we won’t encourage neither the first one nor the second, this is a very serious problem and people, families, fates and others are being affected,” the PM said.
“There is no problem, we will discuss openly, transparently, publicly, we will understand whose interests are more taken into account, whose not, where objective issues exist, we will exclude them and solve this problem, because this really is a serious problem, and people are alarming about this problem in masses,” he concluded.
Source: Focus Gaming News
Source: Latest News on European Gaming Media Network
Armenia
Armenia changes gambling rule on allowable age
Armenia has changed the section of gambling regulation that deals with the permissible age on gambling. Gamblers in the country’s casinos must be at least 21 years of age from now on.
In fact, this particular provision has been there since September 2014. But with the new amendment, casinos must have a provision to check the age of the visitors. Atom Janjugazyan, the Minister of Finance of Armenia, signed the new order that made mandatory the checking of passport or any other identity document of the casino visitor. The casinos will be liable for a penalty up to 300 thousand drams (about 500 EUR) for any violation of the rule.
The Armenian authorities systematically tighten legislation related to online and offline gambling. Currently, Armenian Ministry of Finance is considering the possibility of restricting the activities of foreign online casinos and a partial ban on advertising of casinos on the streets of cities and in the mass media. At the same time, the government does not plan to revise the profit tax on gambling, now it is 20 per cent.
Source: Latest News on European Gaming Media Network
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