Why is the Georgian gambling market a hot topic in the iGaming world? What important insights do operators need to know before entering the market? Slotegrator offers answers, complete with comments from one of the company’s experts.
Georgia’s gambling industry is one of the fastest-growing in the region. With new regulations and a rise in the number of online players, the market offers exciting opportunities for foreign investors and operators. What do they need to know?
Arthur Movchaniuk, business development manager at Slotegrator, noted: “The gambling market in Georgia is one of the most dynamic and rapidly growing in the region, as it continues to develop and player numbers rise. This creates favorable conditions for foreign investors and operators looking to enter the Georgian market.”
However, while the industry is making great strides, there’s been some pushback from the community out of concerns regarding problem gambling.
In 2022, the Revenue Service, which is responsible for issuing licenses, setting tax policies, promoting industry growth, and enforcing regulations, introduced new restrictions. These constraints deny gambling access to over a million adults, including government aid recipients, government employees, and individuals under 25. Self-identified and court-declared addicts are also included in this list. The newly imposed restrictions also confine gambling advertisements to sponsorships of sports teams, athletes, or leagues. Detailed information about the Georgian regulatory overhaul is available at Slotegrator Academy.
Despite the stringent regulations imposed by the Georgian government, the market continues to lure significant investments and generate substantial revenue. Dominant players within the industry include Crystalbet, Adjarabet, and Crocobet.
However, Movchaniuk highlights the potential risks that could emerge from a further increase in rates, which could steer operators towards gray markets, causing shrinkage in the regulated market and a fall in tax revenues. To read more of Movchaniuk’s insights on the Georgian gambling market, read this article.
The SBC Tbilisi Summit, held on June 25-26, 2024, served as a forum for industry frontrunners to deliberate on these trends and challenges. The Slotegrator team seized the opportunity to network and explore the potential of Georgia’s booming gambling market, providing further insights and uncovering new possibilities. This allowed them to garner profound insights into the Georgian market and its regulatory framework.
Slotegrator is always ready to help operators in entering new markets. With Slotegrator’s advisory services, operators can save time and ensure they maintain compliance with all the regulations.