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.
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