Online gambling is legalized in Belarus
The changes in the online gambling world are amazing. Many regions open their virtual doors for online casino market.
In many countries all over the world online casino gambling has been already legalized, and Belarus is among these countries.
In Belarus the legalization of online gambling is on. The President of the country, Alexander Lukashenko has recently signed a special decree to make online gambling legal.
The decree is a step towards the improvement of the regulation referring the gambling industry. It was signed on 07.08.2018. It authorizes licensed sites to provide legally online gambling services to Belorussian citizens.
Many changes have been brought by this decree. These changes are connected on the first place to the taxation laws. Another change is that the minimum gambling age was pushed from 18 to 21. The aim of this is to minimize potential threats and negative effects of online gambling.
Specific licensing criteria have to be fulfilled by the online casino operators and land based casino operators who apply to offer their services legally to the consumers. On the first place in the list of conditions is an amount that the operators need to pay to the government. This fee will cover pay-outs of customer winnings, taxes and other expenses in case the casino would become insolvent. Any player who makes a registration at a legal online casino will be a subject of identity checks. Tax authorities will have an access to online casinos. Country officials will monitor all money flow of every casino by a special payment network.
Due to the new regulations and restrictions the access to casino sites from other countries will be limited. In this way it is expected to curb the outflow of money to foreign online casino sites. As the country opens its virtual doors to online casino gambling bigger development in tourism may be seen as well, which will diversify the state economy.
During the next several years it will be seen the effect that the legalization of online gambling will have on the economy and the players who will play their favourite casino games having a legal access to online casino sites.