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Ukrainian gambling: to be, or not to be, that is (already not) the question

Reading Time: 4 minutes
After significant and protracted deliberations, Ukraine finally legalized gambling activities back in 2020. The Law on the governance of the organization and carrying out of gambling activities became effective almost half a year ago. As of the date of writing this article, already 3 licenses have been granted to online casinos for their gambling activities to be performed in the future.
There is still a number of issues and, despite all efforts, the gambling market seems to be standstill except for the mentioned minor movements by local online players obtaining licenses. As of now, it seems that no big international market players are entering the newly born Ukrainian gambling market. So, let`s discuss whether it is all going somewhere and if that somewhere is in the right direction.
Ukrainian gambling market background
To see a broader picture, one should unveil the historical background of the current gambling market legalization in Ukraine. First of all, it’s worth mentioning that the Ukrainian gambling market has been actually reopened, but not developed from scratch.
The previously operating Ukrainian gambling market was not so much a success story as one might imagine. There were no huge and fancy casinos like in Las Vegas, but rather a market consisting of different establishments, some of them even legal and compliant. They were shut down by decisive moves of the state authorities in 2009 due to the lack of comprehensive regulations and effective control over their execution, which irreversibly led to negative consequences. As a result, the mentioned flaws contributed to the growth of black and grey gambling services markets. Moreover, the lack of strict rules and their enforcement also formed a public opinion that the gambling market was something antisocial and dirty. Ukrainians still remember well those times when slot machine halls literally surrounded public transport stops and were filled with some not exactly wealthy people giving up their last money in pursuit of a snatch.
At that time, Ukrainian authorities decided to use muscles instead of brains and banned all gambling activities instead of introducing reasonable regulation and taking the situation under control. Thus, starting from mid-2009, all gambling operators were forced to leave the wild, but rapidly growing market. However, as one may guess, the Ukrainian gambling ban was not far from the Prohibition in the United States in terms of its results. Ukrainian gambling market simply went undercover, depriving the Ukrainian budget of significant contributions previously made by the industry.
What are the current challenges for the Ukrainian gambling market?
Not so long ago, a logical step was taken by Ukraine and the gambling activities ban was lifted. However, same as in the case with the Ukrainian land market, things are not perfectly smooth and there are still some obstacles in place.
For instance, while three online casinos have already paid for and received licenses, they still can`t fully realize and enjoy the rights of an online casino operator. The reason is that the necessary regulations applicable to certification of the equipment to be used in casinos haven`t been adopted yet. Additionally, there is still a certain lack of clarity in terms of taxation of gambling activities. Some say that a specific volume-based tax will be introduced. However, considering that the licensed operators can`t get any revenues in the absence of the regulations to certify their equipment, the issue of taxation seems to be too far to think about.
Apart from that, one should note that this time Ukrainian government decided to seriously take advantage of the gambling market by imposing comparatively high license fees, financial thresholds, and location requirements (for offline casinos). For instance, the license fee is around USD 1.1 million for online casinos (for 5 years) and USD 10 million for offline casinos if based in Kyiv (additional equipment fees will also apply). Moreover, a gambling operator must have a share capital of at least USD 1.1 million and a deposit account or Ukrainian bank guarantee for USD 1.2 million.
As to the location requirements, under the new legislation, casinos can be opened only at 5-star hotels with at least 150 rooms in Kyiv, 4- and 5-star hotels with at least 100 rooms in other regions, out-of-town resorts with a total area of at least 10,000 m2 or “special gaming zones” within territories to be further defined by the Ukrainian government.
Under the new law, various restrictive regulations of a similar character also apply to betting, slot machine halls, and online poker activities.
Opportunities and additional obligations for Ukrainian gambling operators
It is worth mentioning that there are some opportunities for the new market players. The new law provides that such players may obtain investment licenses. Holders of such licenses will be exempt from license fees for 10 years if they build a new 5-star hotel with at least 200 rooms in Kyiv or 150 rooms in another Ukrainian region.
Ukrainian gambling operators will be also obliged to follow certain gambling standards and policies aimed at preventing gambling addiction. The government plans to launch a state-owned online monitoring system. The system will perform a real-time oversight and control of the Ukrainian gambling industry.
To sum it all up, it’s an important aspect that different people might make different conclusions as to the above. Pessimists might claim that this time, the gambling market launch in Ukraine has little chance to become interesting for the largest international market players. However, if evaluated by opportunists, entering the Ukrainian gambling market is definitely worth a shot.
High financial thresholds and strict regulations ensure that the market will not slip into putting dirty slot machines centered around metro stations. It is more likely that the Ukrainian gambling industry will at least somehow resemble what one may observe in wealthy locations like Las Vegas. This puts confidence into the minds of potential investors because the government will not be in a position to cut its own leg by banning a well-governed and budget-supporting industry.
The readiness of the local online casino market players to pay for the licenses which can`t be yet used proves the above statement to be true. It also leads to a conclusion that gambling investors should already be on their way to Ukraine in order to be in a time when the market starts to operate and extreme profits flow into the hands of the few pioneers.
This article has been created with the help of Oleksandr Aleksyeyenko (Partner at Marchenko Partners) and Sviatoslav Henyk (Senior Associate at Marchenko Partners)
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Swintt serve up a new holiday slot with all the trimmings in Extra Win X Thanksgiving
Reading Time: 2 minutes
Sought-after software provider’s reimagined retro classic delivers a flavourful feast of rewards as full table wins help players on the way to massively multiplied prizes
Get ready to gather the family around the table and celebrate the harvest season in style in Extra Win X Thanksgiving – the new holiday-themed twist on Swintt’s classic retro slot formula where landing full table wins can lead to massively multiplied payouts.
As the latest release in the software provider’s popular Premium range, Extra Win X Thanksgiving combines simple gameplay across three reels and five fixed paylines with a distinctive autumnal aesthetic as golden turkeys, plump pumpkins and cornucopias award huge wins of up to 20,000x.
Building on the popular prize wheel format found in other Extra Win games, in order to unlock Extra Win X Thanksgiving’s most bountiful rewards, players will need to completely fill the reels with any one symbol to activate a bonus round where their winnings can be multiplied indefinitely.
Whenever this happens, all regular payline wins will be calculated and players will be transported to a new screen where they’ll be prompted to spin a wheel to further improve their rewards. With initial prizes including a standard 1x win and a healthy 2x multiplier, players will be able to keep spinning until they land a red “end” segment, at which point they’ll be returned to the base game.
Each wheel will also display an Extra Win X symbol, and if players are lucky enough to land on this special segment, the value of all multipliers will be enhanced and they’ll be able to keep on spinning. Again, this process will continue until they’re forced to exit the bonus round or the max win has been achieved, but all smaller prizes can also be gambled in an additional “Risk” feature.
Anthony Dalla Giacoma Chief Commercial Officer: “Thanksgiving is a time where millions of families across the U.S. gather to enjoy a smorgasbord of tasty treats – and to mark the occasion, we’re serving up all manner of mouthwatering rewards in a new, holiday-themed edition of our popular Extra Win X series . Featuring the same great mechanics as the original game and an improved top prize of 20,000x, we’re sure it’ll give players and operators plenty to be thankful for.”
The post Swintt serve up a new holiday slot with all the trimmings in Extra Win X Thanksgiving appeared first on European Gaming Industry News.
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Assessing the Greek iGaming market’s potential
Reading Time: 5 minutes
Greece has quickly become one of Europe’s most closely watched regulated iGaming markets, blending high player engagement with an increasingly mature licensing framework. In this roundtable, Christos Zoulianitis, Chief Commercial Officer at ENJOY, Tassos Theocharidis Senior Sales Executive at Altenar, and Iulian Nedelcu, Account Manager at 3 Oaks Gaming examine the market’s evolution, the trends shaping Greek player behaviour, and the opportunities now open to operators and suppliers, while assessing the regulatory and commercial challenges that will define the next phase of growth.
How has the Greek iGaming market developed over the past few years, and what changes have made the biggest difference?
C: The Greek iGaming market has transformed significantly in a relatively short time. The introduction of a clear and consistent licensing framework has provided the stability needed for long-term growth, giving both operators and suppliers the confidence to invest. From a supplier’s perspective, this regulatory clarity has been instrumental in attracting greater innovation and competition. The influx of new licensees underlines the market’s growing appeal, confirming Greece’s status as one of Europe’s most dynamic regulated markets.
T: Following the launch of Greece’s regulated market in 2021, it has stabilised significantly, with more than two dozen licensed operators now active and licensed by the Hellenic Gaming Commission (HGC). Four years on, Greece’s GGR has grown by more than 25%, with online platforms powering that growth. Since obtaining our Greek licence in May last year, we have witnessed its high potential, with the market’s regulated GGR reaching €751.6 million. This demonstrates the huge potential for licensed operators and suppliers looking to achieve growth in the jurisdiction.
I: The Greek iGaming market has gone from something that seems like the “wild west” to a fully regulated playground. The biggest game-changer was licensing – suddenly, both players and operators knew the rules of engagement. Combine that with stricter compliance, stronger player protections, and improved tech infrastructure, and you have got a market that feels solid and sustainable, one that has matured into a competitive environment where quality and localisation matter more than ever. In short, regulation has turned something that seemed chaotic into a place of ample opportunity.
From a player perspective, what trends or behaviours stand out in Greece compared to other European markets?
C: Greek players are among the most passionate and engaged in Europe, particularly in sports betting and casino entertainment. There is a strong demand for immersive, entertainment-led experiences, especially within live casino and slots. Localisation plays a major role in the live environment – Greek-speaking presenters, for instance, drive deeper connection and retention. Interestingly, while tailored live content performs strongly, slots with wider European themes also enjoy success without the need for heavy localisation. Overall, Greek players are highly discerning and place strong emphasis on quality, fairness and trust – often judging an operator by the strength of the suppliers it partners with.
T: Greek players exhibit distinctive behaviours compared to other European markets, with a rich history of playing games of chance. Sports betting, particularly football and basketball, remains the most popular vertical, and contributes nearly half of all online wagering turnover. There has also been a strong uptake of mobile and live products. Over 60% of iGaming activity now occurs via smartphones, and in-play betting has become one of the key engagement drivers.
This is an area we have heavily invested in at Altenar, and our intelligent bet acceptance logic has improved the user experience by minimising the number of bets which are rejected due to a live bet delay. The unique algorithm means bets can still be placed during a live event if there is no significant change to the odds. The use of official data from the industry’s leading providers also helps to ensure live betting windows are extended and cashout availability is improved.
Compared to other European markets like Italy or France, Greek players tend to bet smaller amounts but more frequently, emphasising the social and entertainment value of betting over purely transactional motives.
I: Greek players are passionate and extremely loyal, they gravitate toward engaging features and jackpots, but what really sets them apart is their appetite for localised content and games that feel culturally familiar, relevant and immersive. They want entertainment with personality, not just another spin on the reels. When features speak the language of Greek players, both culturally and experientially, they drive ongoing engagement rather than a single interaction.
What opportunities do you think the Greek market will offer in the coming years?
T: In line with expected annual growth of around 3.5% up to 2029, the market presents significant opportunities in several areas, and is expanding with a highly engaged player base, long-standing cultural acceptance of gambling and well-developed technical infrastructure.
More so than ever, localisation is key, with Greek language support and tailored payment systems in high demand. Additionally, retail-to-online integration and software expertise are essential to help operators compete.
I: The opportunities are plentiful if you play it smart. Mobile-first experiences will dominate, as Greek players increasingly engage on the go. Localised campaigns alongside tailored jackpots and features will set successful brands apart. There is also room for growth in gamification and responsible play tools, which are increasingly valued. In short, the companies that succeed will be those that combine smart innovation with a genuine understanding of Greek player preferences. A generic slot experience simply is not enough anymore.
C: As more casinos go live under licence, competition is intensifying, opening fresh opportunities for content providers to help operators stand out. Exclusive titles, premium live content, and branded formats are all becoming key differentiators. For suppliers, there is also scope to add value through localised experiences and innovative promotional features that enhance engagement. With a robust regulatory base and consistent year-on-year growth, Greece is shaping up to be one of Europe’s most promising markets for operators and suppliers alike.
Looking ahead, what hurdles do you think the market will face in the coming years?
T: Despite growth, the market faces some structural challenges. High taxation, with GGR tax rates of up to 35%, among Europe’s highest, compresses operator margins. Meanwhile, illegal gambling continues to siphon away 10% of total wagers, prompting the HGC to establish a dedicated task force to curb unregulated activity.
The need for a refreshed regulatory framework has also become urgent. The HGC itself has noted the limitations of the current structure and advocates for a system ‘built from the ground up’ to align with international best practices.
I: The hurdles are quite clear: stricter regulations, heavier compliance burdens, market saturation, and the not-so-small matter of Greek taxation. Operators will also need to constantly balance innovation with responsibility. Yes, players want excitement, but regulators want safety. Add in fierce competition, and the market can feel like a marathon. The key challenge will be differentiation and standing out without cutting any corners. Those who prioritise sustainable strategy, localised insight and long-term trust will be the ones who move ahead.
C: Despite the strong trajectory, the market is not without its challenges. High taxation, rising operational costs, and strict compliance requirements all put pressure on margins – particularly for smaller operators and studios. Suppliers also face lengthy approval processes from the HGC, which, since 2023, have become more time-consuming. Even so, these measures ultimately uphold market integrity and professionalism, helping to ensure Greece’s long-term sustainability as a regulated market.
With factors such as high taxes and increasing competition, how do you see these shaping the future of the Greek iGaming market?
I: High taxes and competition may seem like a headache, but they are in fact forcing the industry to evolve. Margins are tighter, so operators must focus on efficiency, smarter marketing, and player retention rather than quick wins. Competition, meanwhile, drives creativity and innovation – only the best survive. The result? A leaner, more sophisticated market where localisation, responsible play, and strong brand identity separate the leaders from the pack.
C: These pressures are likely to accelerate the market’s evolution towards greater maturity. Operators will prioritise sustainable growth, efficient operations, and long-term partnerships with trusted suppliers. High-quality, localised content will remain a central advantage, while innovation in promotions and player engagement will continue to separate market leaders from the rest. Despite the challenges, the steady influx of new licensees and consistently high player demand underscore Greece’s strong potential – a compact yet high-performing market that continues to deliver impressive annual results.
T: In the years ahead, Greece’s iGaming ecosystem will reflect the tension between innovation and regulation. High competition and tax pressure will likely push smaller firms out of the market, favouring operators that invest in responsible gaming, advanced technology, and product differentiation.
However, the fundamentals remain promising. With high internet penetration, a digitally engaged population, a clear licensing regime, and a growing reputation as a Mediterranean hub for gaming innovation, Greece’s iGaming market is well-positioned to sustain steady, high-quality growth.
The post Assessing the Greek iGaming market’s potential appeared first on European Gaming Industry News.
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The Golden Boomerang League winners, sports traffic tournament from Boomerang Partners shared their impressions
October 31 marked the conclusion of the first season of Golden Boomerang League, an affiliate tournament for sports traffic by Boomerang Partners. The company named the winners in a ceremonial setting on its stage during SiGMA Central Europe in Rome, on November 4th. They became:
- QQMedia
- Apex Media
- Luis Xavier
These teams made it among the 68 participants who managed to generate 20+ FTDs on sports brands from Boomerang Partners’ client portfolio over the two months of the tournament and reached the final draw. Their leaders shared their emotions and impressions.
QQmedia and their unique traffic driving concept
Taking the top spot and winning a direct ticket to the Golden Boomerang Awards 2026 (a global, annual affiliate traffic tournament by Boomerang Partners), QQmedia has proven its elite status in the industry. For the team, this victory was a validation of their unique approach and a reason for a well-deserved celebration in Cyprus.
“The win means a lot to us because it proves our concept. The way we drive traffic is unique; nobody does it like we do,” stated the CEO of QQmedia. The team’s success was driven by a forward-thinking strategy that many competitors are yet to embrace. “I think most people still live in the past… In my opinion, marketing has changed a lot. Influencers are now more powerful than major athletes or actors… We have and that’s why we’re doubling down on influencer marketing,” he revealed.
When it comes to sports traffic specifically, QQmedia leverages this by collaborating with former athletes-turned-influencers, which they note delivers “some of the best conversion rates in the entire industry.”
Looking ahead, the CEO of QQmedia is thrilled about his team automatic qualification for the Golden Boomerang Awards 2026. He recalled the previous event as a “10/10 experience.” Their strategic goal for 2026 is to forge an exclusive partnership in 2026 to focus their power and push one brand to the maximum. The CEO added that the competition itself was highly motivating for the entire team. He described the Golden Boomerang League experience in one word: “Inspiring.”
Luis Xavier builds a strong connection with the target audience
Luis Xavier secured an unforgettable prize: the AC Milan Experience package, including paid flight, accommodation, and attendance at an AC Milan home match at San Siro Stadium in Milan. This became possible thanks to the fact that Boomerang Partners is the Official Regional Partner of AC Milan.
“This victory means a great deal. It reflects all the dedication and ambition in the work done until today,” said the CEO of Luis Xavier. Their approach is straightforward but powerful. “It’s not a matter of strategy. When you know you have to achieve a goal, you just do it. We only stop when it’s accomplished.”
This determination extends to their work with sports traffic, where they believe the ultimate challenge – and key to success – is achieving a strong, genuine connection with the target audience.
Personally, the CEO of Luis Xavier, a huge football fan, looks forward to the Milan trip as a unique reward. He’s already decided his wife will join him, making it a personal celebration of a job well done. For his team, this victory serves as a powerful motivator, proving that “without dedication, nothing is achieved.”
Apex Media is aiming to diversify, and grow globally
Apex Media also scored the AC Milan Experience package. The win has deepened their commitment to their partnership with Boomerang Partners.
“I’m so emotional about the new trip that is coming,” shared the Head of Sales at Apex Media’. “The fact that we won this competition only inspired us to continue working with Boomerang Partners, maybe even more.”
As a team of passionate football fans who recently attended an AC Milan match versus AS Roma, this prize is a perfect fit. The trip to Milan holds special significance for their fully remote team. It serves as a powerful bonding opportunity. “I cannot wait to spend beautiful moments in this town and bring our whole team together,” the Apex Media’ Head of Sales added.
Looking forward, Apex Media plans to build on this success by focusing on constant growth, diversification, and global expansion.
There are more to come
Golden Boomerang League became Boomerang Partners’ first affiliate tournament with focus only on sports traffic. The company continues its course toward the status of leading sports affiliate program in the industry, and it has many plans for 2026. Follow the news on the official website and social networks of the agency.
About Boomerang
Boomerang Partners is a rapidly growing global marketing agency offering a wide range of services. Boomerang Partners is the Official Regional Partner of AC Milan. In 2024, it launched the inaugural Golden Boomerang Awards — a global tournament for affiliate teams. More than 400 affiliate teams participated in the second season of the tournament in 2025. The agency launched six new products in 2024-2025, contributing to a nearly 1.5-fold increase in product users.
The agency’s client portfolio contains 13+ brands offering affiliate and entertainment services across 40+ markets in compliance with local regulations. These products provide personalized bonuses and 24/7 multilingual support.
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