The National Bank forbade the use of credit funds for gambling

From June 22, 2024, the National Bank of Ukraine (NBU) prohibits the use of credit funds for gambling.

This was reported by the press service of the National Bank.

This will help to minimize risks to the safety and stability of the financial system, reduce the negative consequences of the functioning of the sphere of gambling on the Internet, contribute to the protection of consumer rights and the development of responsible consumer lending.

The situation with the gaming business in Ukraine

In July 2020, the Verkhovna Rada legalized the gambling business in Ukraine. The law legalizes the activities of casinos, bookmakers (in particular on the Internet), slot machine halls and the organization of online poker. The parliament included roulette, playing cards, dice and slot machines as casino gambling. In September 2020, the Parliament created the Gambling and Lottery Regulatory Commission (GLRC) — this is a state regulator that deals with the licensing and regulation of gambling in Ukraine.

In 2023, Ukrainians spent almost 400 million hryvnias in online casinos every day, or more than 12 billion a month, as reported by Economic Truth with reference to the National Bank. This industry most often affects military personnel, who then suffer from gambling addiction.

After this publication, lively discussions of the problem with gambling began in society, in particular among the military. On April 20, 2024, President Volodymyr Zelensky signed a decree restricting the operation of online casinos.