Uzbekistan legalizes gambling, lotteries and sports betting: An epochal coup in gambling policy

According to the new rules, the National Agency for Prospective Projects (NAPP) will issue licenses for gambling, lotteries and online sports betting. These licenses will ensure that business is conducted fairly and openly, subject to strict rules, including age restrictions requiring participants to be at least 18 years of age.

However, to prevent the undesirable consequences of gambling, the new tax policy sets the tax rate at 4% of total income, less the payment of winnings and the return of bets. Interestingly, individuals who win from licensed games are exempt from paying tax on their winnings.

The introduction of a new regulatory structure not only creates a framework for legal gambling, but also aims to combat illegal operators. Monitoring and control functions are assigned to the NAPP, the Attorney General's Office and the Tax and Currency Crime Department to ensure the integrity and transparency of the gambling industry.

Uzbekistan's decision to legalize gambling and sports betting portends significant economic and social benefits. The country expects an increase in the flow of funds into its economy, sponsorship of sporting events and development of the entertainment industry. However, there is a risk of unwanted consequences from gambling, such as gambling addiction and financial losses, which need to be controlled.

The introduction of new rules in the gambling industry of Uzbekistan means an epoch-making change in the approach to gambling and sports betting. This solution not only creates new business and entertainment opportunities, but also requires effective controls and monitoring to ensure responsible gambling behavior and the protection of consumer interests.