Armenia’s iGaming market is evolving towards inclusivity and transparency.

Armenia’s iGaming market is currently undergoing significant change, driven by regulatory changes and the vision of a more inclusive and transparent future. SiGMA Group founder Eman Pulis brought these changes to light during his recent visit to Armenia, highlighting the country’s potential in the evolving gaming industry.

Armenia’s Gambling Legislation and Market Dynamics:

The Armenian gambling sector, regulated primarily by the Gambling and Casinos Law of 2005, includes land-based and online gambling. This framework sets out the licensing procedures and regulatory guidelines for operators. Despite modest growth in the online gaming segment, Armenia faces challenges, including loss of revenue to foreign operators.

Eman Pulis’ visitation and inclusion initiatives:

Eman Pulis’ visit to Armenia, including a tour of Betconstruct’s live studio, gave him a deeper understanding of the local gaming ecosystem. Pulis was impressed by Armenia’s efforts to level the playing field for operators and praised companies like BetConstruct for their inclusive employment practices, particularly in hiring diverse and marginalized groups. In response, SiGMA Group launched a survey to examine the inclusivity of employment practices in the gaming sector.

Changes in the law for foreign operators:

To solve the problem of revenue flow to foreign companies, Armenia is making legislative changes. These changes aim to bring foreign online casinos and bookmakers into line with local regulatory standards, promote fair competition and improve consumer protection. One notable initiative is for players and bettors to open dedicated bank accounts for their activities, improving transparency and financial oversight.

Financial transparency mandates:

The Armenian Parliament has approved measures requiring the exclusive funding of accounts directly from personal funds. This move towards a cashless system is intended to increase financial security and reduce illegal activities in the gambling sector. These new regulations exempt non-citizens from tax, underscoring Armenia’s commitment to safe and responsible online gambling practices.

The future of the iGaming sector in Armenia:

Armenia’s iGaming sector is prepared for a future where inclusivity and sustainability are at the forefront. The country’s progress towards a cashless system, exclusive funding provisions and commitment to financial transparency reflect the commitment to creating a safe and accountable online gaming environment. These efforts are in line with global trends that favor digital transactions and responsible gambling.

As Armenia forges its path in the iGaming world, the country is setting a precedent for a balanced approach that values ​​inclusivity, fairness and transparency. Under the leadership of visionaries like Eman Pulis and initiatives from groups like SiGMA, the Armenian gaming sector is not only adapting to global trends but also setting new standards for responsible and inclusive gaming.

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