The gambling industry in Belarus is developing successfully
Belarus is one of the few former Soviet republics where the gambling industry is developing quite successfully. Until recently, only land-based casinos were officially operating in the country, but today online gambling is also permitted in the country. The first official online casinos appeared in the country last year. This state of affairs is very beneficial for the state, as it allows it to significantly replenish the budget. Gamers, in turn, get the opportunity to play in legal establishments, which are subject to strict control by authorized organizations.
According to preliminary estimates by financial experts, more than seven billion Belarusian rubles were attracted to the Belarusian economy as investments from international companies in the first half of 2020. This is almost three billion US dollars! At the same time, at least five billion rubles are intended for long-term projects. Naturally, local financial analysts are confident that the gambling industry is one of the most promising today.
According to the new Minister of Economy of the country A. Chervyakov, all contradictions between the legislation and entrepreneurs who are engaged in the organization of gambling have been overcome at the moment. Investors are protected at the state level. A number of preferential conditions are also provided, which will allow the implementation of new promising projects.
The Minister reminded the public and journalists that the state had simplified tax legislation for international companies providing services in the gambling industry. Many bureaucratic procedures had been eliminated, and all conditions for the creation of investment projects had been created. As an example of the successful implementation of a program related to the organization of gambling, the Minister spoke about tax deductions that had come from only one region of the country – Mogilev. In just five months of this year, gambling operators had transferred taxes to the country's budget totaling 1.2 million Belarusian rubles.
