VBet, the flagship B2C brand of BetConstruct, has secured licence approval to operate online casino and poker verticals for Ukraine’s newly regulated gambling marketplace.
BetConstruct confirmed that VBet had received its formal licensing approval from KRAIL, Ukraine’s Gambling and Lotteries Commission, which approved the brand as Ukraine’s first licensed online poker room.
Welcoming KRAIL’s approval, BetConstruct Founder and CEO Vigen Badalyan outlined his firm’s intentions to grow sustainably within the CIS region’s most nascent marketplace.
“Our team sees great potential in the Ukrainian market, and is excited to provide fully legal and high-quality entertainment solutions to its clients,” remarked Badalyan.
“VBet is always keen to support responsible gambling, grow local sports, follow the highest business ethics standards, and fill the market with drive, creativity, and passion.”
Ukraine’s Rada officially approved the passing of the Gambling Law in September 2020, moving to relaunch a federal gambling marketplace following 11 years under a blanket prohibition.
Despite launching its new regime, businesses have been left frustrated as the Rada has yet to settle on final arrangements regarding technical criteria, licensing provisions and industry tax.
Thus far, VBet joins domestic incumbents Parimatch and Cosmolot as the only operators to have been granted licensing approvals by KRAIL.
Seda Mkhitaryan, VBet head of licensing and certification, said: “It is a great honour and privilege to receive the approval of the Ukrainian Gambling and Lottery Commission for online casino and online poker.
“This is an important event for us, especially in these challenging times. It’s been a long, hard journey, but, for our team, even the sky’s not the limit.”