The Finance Ministry has
decided to seriously tackle and regulate the situation on the lottery and
gambling market, which suffers full legal vacuum, “Cabinet press office”
reported. In the first quarter of 2007 the Ministry means to submit a bill on
holding lottery and gaming in Ukraine.
Despite, the market
started forming in early 90s and the lottery market of Ukraine is represented
by many different lotteries, there are no legal acts in Ukraine to regulate the
organization and holding lotteries. The only normative act to regulate the
sphere is licensing conditions of economic activities in issuing and holding
lotteries, approved by the common decree of the Finance Ministry and the State
Entrepreneurship Committee in 2002, the Finance Ministry said.
The bill "On state
lotteries and other gaming" envisages establishment and application of a
clear mechanism of state regulation in the gambling sphere, with a view of
protecting rights and interests of gamblers and preventing misuses and frauds
in the sphere.
The bill proposes to
classify types of lotteries, introduce licensing in organization lotteries and
gaming, introduce registration of holding lotteries and set an order of control
over organization and holding these, as well as responsibility of persons
engaged in the business.
