A successful entrepreneur and founder of Ukr Game Technology, Igor Zotko, has demonstrated excellent results in the gambling business in Ukraine. Thanks to his involvement in the social sphere, his Pin-Up online casino has significantly contributed to the development of small businesses. It has also helped the Armed Forces and people who lost everything due to the war started by Russia. So, how does the entertainment sector of gambling influence the country’s development and involvement in new social programs?
Online gambling revolution in Ukraine: Igor Zotko about CRAIL
Although this sector was legalized in our country only in 2020, it has already achieved remarkable results. Igor Zotko is convinced this was the right decision, so a business should be white and transparent.
“We pay the right taxes and contribute to the development of our country. Modern business should be socially responsible and support the country’s economic stability. We will continue to improve our services and create a competitive market,” commented the owner of Pin-Up.
Pin-Up.ua was one of the first companies to obtain this license and is currently the largest taxpayer (UAH 3.4 billion in 2023) in this sector. Therefore, the recent slander about Igor Zotko’s involvement in Russia is complete disinformation. CRAIL personally conducted an investigation and informed the court in writing that this information had no basis and was a lie.
The Commission for Regulation of Gambling and Lotteries has become Ukraine’s main gambling regulatory body. The Commission’s goal is to monitor the gambling business, namely
- Issuing licenses
- Control and supervision of activities
- Monitoring and regular inspections
- Fighting fraud.
Of course, the signing of the law on the legalization of online casinos has had an impact on the market. However, Ukrainian gambling platform operators still work in the gray zone and avoid responsibility. This raises many questions for this commission, and here is what Igor Zotko thinks about KRAIL.
He said that nowadays, online casinos in Ukraine have good potential, but it is affected by several factors:
- Firstly, the government needs to hear market representatives and develop more effective regulatory policies that will consider the needs of all parties in the gambling industry.
- Secondly, it is necessary to revise the taxation system, which will be attractive for gambling businesses.
- Lastly, operators must comply with all regulations and laws, provide players with quality services, and be socially responsible.
Igor Zotko shows how online casinos can have a positive impact on national development, even in wartime
The best proof of a businessman’s words is his actions. Having such large businesses as Ukr Game Technology, “Yedynyy prostir” and Pin-Up, Igor Zotko is actively involved in other projects aimed at the social sphere:
- Pin-Up Foundation: During the war, the foundation sent UAH 153 million in aid to the regions most affected by the Russian attack. More than 100 refugees who lost their homes after the hydroelectric power station explosion were evacuated. In addition, shelters were set up in the Kherson and Kharkiv regions, and 200 tonnes of humanitarian aid was delivered to the most vulnerable.
- Supporting employees: One of the most important goals during the war was to ensure safe workplaces. That is why the company evacuated employees who were in the hot spots. Throughout the war, regular support was provided through charging stations, power banks, and generators for the blackout period. Employees who have been mobilized are paid and receive support from the team.
- Support for the military: Pin-Up Foundation supports not only its employees at war but also processes requests from other military units. Igor Zotko’s “Yedynyy prostir” project also donates to the Armed Forces of Ukraine through UNITED24 for the Army of Drones and military bonds.
- A grant program with Forbes: Together, they are raffling off a grant of UAH 5 million. The program is open to micro and small businesses most affected by the war. Companies from such regions as Dnipro, Donetsk, Zaporizhzhia, Luhansk, Mykolaiv, Sumy, Kharkiv, Kherson, and Chernihiv can apply.
- ASKOLD Training Centre for Mobilized Soldiers: Igor Zotko personally funds this center, where more than 17,000 soldiers have already been trained.
“Helping each other in difficult times should be a slogan and a personal position. Understanding the complexity of doing business during the war, especially in the regions close to the fighting, we want to show our collective support and united strength in our desire to build an economically successful country,” says Igor Zotko, the founder of “Ukr Game Technology”.
Ways of gambling market development from Igor Zotko
The young businessman emphasized that the first thing to deal with is individuals and media that comment on the market in a toxic manner and create IPSOs. Such statements, which have no basis in fact, damage not only the reputation of one casino but the entire sector. The only official regulator of the industry is CRAIL, which is subordinated to the Ministry of Digital Transformation. Therefore, people should listen to their conclusions and statements.
The second existing problem is a common law for games and lotteries. Each area should have a separate regulator or different licenses and taxation systems.
The third is removing all casinos from the gray zone. Unfortunately, up to 45% of operators on the market are unlicensed and evade taxes. This not only harms the state budget but also kills healthy competition in the market. After all, licensed casinos do not have such favorable conditions as websites that are not regulated by the state.
The owner of Pin-Up.ua, Igor Zotko, added that the Ukrainian government had taken a decisive step by legalizing all types of gambling. In European countries, such a law usually covers only one area, which allows for more detailed monitoring and auditing.
Is it possible to improve the work of KRAIL: Igor Zotko`s Thoughts
In general, it is difficult to discuss the development of such a sector when there are other much more important goals, such as peace in Ukraine. Nevertheless, the gambling business continues to operate and develop. Igor Zotko believes that online casinos should continue to support the social sphere, the army, and the population groups that have suffered the most from the war.
Speaking about KRAIL, the Pin-Up.ua owner is confident that if all business stakeholders, including the state, operators, and players, are involved in improving the gambling law, the problems can be solved. He also emphasized that the most important thing is to close casinos that conduct illegal activities and evade taxes, hindering the work of legal platforms.
This article was written in cooperation with Mark Donald