Entry Into Ukrainian Market: What Worries Foreign Companies?

By | September 15, 2021

The legalization of the Ukrainian gambling industry has brought a wide range of opportunities for solutions providers from various corners of the world.

Although many regulatory aspects have been discussed in Ukrainian and global news about the gambling industry, the market is only at the initial stage of its operation, remaining an undiscovered area for overseas companies.

Brian Forth, VP of Sales and Marketing at Finnplay, has expounded on the main challenges in the newly launched market and explained its differences in comparison to other European markets.

Is the Ukrainian market interesting for you, and if yes, why?

It’s obviously a very interesting market for us. We are here to learn what there is to learn. It is a potentially very large market. From our perspective, we want to learn what is coming in technical requirements to be compliant in the market. But we are looking for commercial opportunities. Now, this market has become legitimate, and it is very interesting for us.

What are your expectations about the Ukrainian market?

In the long run, over the next year or two, we will be very happy, if we can have a few operators in this market. Especially, once the technical requirements are officially known, and we know what we need to do to be compliant with that.

What are the main differences between the Ukrainian market and other European markets?

I think, at the moment if we are going to compare it with the other regulated markets, the biggest difference is the fact that there are no published technical requirements in Ukraine. So, yes, there are licenses being issued, but it’s a little bit “black box” what a decision-making process behind that is. We, as a supplier of the industry, don’t know what is going to be required of us. Every market has its own special technical requirements, and we want to learn what is going to be here, in Ukraine.

What products, in your opinion, will be the most popular among Ukrainian customers?

It’s a good question, but it’s maybe not in my area directly. That is the question for operators. I will say that the game providers, a live casino, obviously, sports are a big thing in this market and have a very strong, established place. We expect more what is already here in the market, but that’s not our area directly.

What are the main obstacles for you as an iGaming solutions provider?

I think, in a word, it’s transparency with regard to regulations and technical requirements. Once that is clear, we will know what we can do to change our platform to be compliant. At the moment, we are just guessing.

Read more: What license is required for gambling in Ukraine?

Read more: Types of licenses for gambling in Europe

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