written and last updated by
Sam Smith at
20 Jan 2022
Journalist, Editorial Department
The Armenian Ministry of Finance is once again planning to tighten oversight of the online gambling advertising sector. The relevant draft law, which includes amendments, was developed and presented to parliament by Deputy Finance Minister Armen Ayrapetyan.
In his address, Ayrapetyan noted that local authorities had already taken measures in 2019 to significantly reduce the size of the gambling market. As a result, several land-based operators exited the country and shifted their operations online. However, this has only exacerbated Armenia's long-standing issue with gambling addiction.
At the same time, it has been revealed that public engagement in gambling increased sixfold from 2018 to 2021, with the number of users of online casinos and betting operators tripling.
"We have carefully analyzed the current situation. As a result, a joint decision was made that from now on, gambling advertisements will only be allowed in four-star hotels and above, as well as in tourist areas, including airports. This new regulation will affect not only online casinos but also betting shops. Undoubtedly, the new law will reduce revenues for the press, agencies, and television. However, we must make sacrifices if we want to effectively combat the alarming rates of gambling addiction among our citizens," Ayrapetyan stated.
The official highlighted that the amount spent by Armenians on online casino services is roughly comparable to the expenditure side of the state budget—up to 30% of GDP. According to national statistics, the Armenian treasury's expenditure is around $4.55 billion. Despite the severe economic crisis caused by the COVID-19 pandemic, betting volumes in the online gambling sector continued to grow steadily by the end of 2021.
Ayrapetyan also mentioned that current laws do not prohibit gambling activities even for citizens whose assets have been seized. Therefore, he indicated that the government will soon introduce a new package of measures to regulate the gambling industry.
It is worth noting that in 2023, Ukraine is set to unveil a unique resort city featuring a casino.
