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Has the online casino industry in Ukraine been affected by the war?  

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Has the online casino industry in Ukraine been affected by the war

2022 has been a volatile year for one reason and another, particularly in the political world.

Coming off the back of a global pandemic that ground life to a halt, Russia decided to invade its neighbor Ukraine under the guise of a “special military operation”.

Early Newspaper

Tens of thousands of people have died so far. Ukrainian towns, cities and villages have been destroyed, and still the bombardment continues.

The impact of the war has rippled beyond the borders of Ukraine, affecting the global economy and sending industries into turmoil.

In this article, we’ll look at the impact the war has had on the online casino industry specifically. First, let’s take a look at how that industry actually operates.

The world of online casinos

The popularity of online casinos has grown exponentially in the last few years. The global pandemic has propelled this growth. Brick-and-mortar casinos were forced to close their doors, and in their stead, players looked online for their gambling thrills.

Significant investment in betting apps and websites has also led to a much more satisfying user experience and a greater entertainment factor. Players can quickly and reliably play their favorite games such as poker, blackjack and roulette.

And many casinos have introduced live game tables, meaning players can watch streams of the likes of roulette tables in real time and bet along with those sitting at the table.

Players can also play a massive range of slot machine games, many of which are based on those found in brick-and-mortar casinos. Some online casinos have even begun to experiment with virtual reality slots to offer an even more immersive experience.

You can discover more about the best online casinos in Ukraine at Casinotopsonline.com/ru – which is an online casino portal that has specialised in reviewing online casinos. According to them, a lot of online casinos are still online in spite of the conflict. 

Many online casinos offer welcome bonuses and deals that some players may find appealing. These include the matched first deposit bonus, meaning that the betting site will double the first deposit you make when you open your account. So, if you add $500 in credit, they’ll top it up with another $500 that you can use to play your favorite casino games.

Some casinos also offer free spins on slot machine games, with any winnings you make yours to spend on other casino games or withdraw after meeting a wagering requirement.

 About the war in Ukraine

The conflict in Ukraine began on February 24th when Russia launched its offensive. It’s regarded as an escalation, or tipping point, of the Russo-Ukrainian War, which began way back in 2014 when Russia seized Crimea.

Missiles began to batter the towns and cities of Ukraine, striking civilian buildings such as schools, hospitals, apartment blocks and shopping centers, as well as army locations. A total of 6.3 million Ukrainian people fled the marauding Russian soldiers.

The Ukrainians resisted the Russians and managed to push them back with the help of international support in the form of weapons, aid and resources.

In response, the Russian assault ground to a halt. Word began to circulate that the Russians were badly organized, ill-supplied and mutinying against commanders. Back in Russia, the state media fed people a different story, and it soon came to light that thousands of Russian soldiers had died.

This sparked a retreat from the Russians and a refocus of their tactics on the eastern part of Ukraine, close to the Russian border and the areas already held since 2014.

The conflict has had a massive impact on the Ukrainian and, consequently, the global economy. Ukraine is a major exporter of grain, which has impacted the global food market. It also produces iron and steel, and animal and vegetable fats and oils. All these components are vital in the production of a variety of foods and products, thereby hitting supply chains.

Has the online casino industry been affected by the war?

Gambling was only legalized in Ukraine in 2020 but has since grown considerably. A number of companies obtained licenses from the government at a massive cost. In total in 2021, the Ukrainian Game Regulation Commission planned to receive around $162m in licensing fees alone.

One of the companies that acquired a license is Parimatch, but they’re not based in Ukraine due to legal restrictions prior to 2020. Their service has remained running in Ukraine despite the war, as have many others.

The biggest impact has been on bets being placed within Ukraine. The conflict has damaged infrastructure in significant ways, knocking out electricity supplies as well as internet connections.

Many people, particularly in the north, south and east of the country, have been displaced or their homes have been destroyed or damaged. It’s fair to say they have much more on their minds than playing blackjack.

The Ukrainian online gambling market will suffer financially, and the biggest concern is that there is no end in sight to the war. This could spell trouble for the global online casino industry.

With inflation rising, prices increasing all the time and bills getting higher, it’s a difficult period for many people. When you have to choose between eating or heating your house, few people have the spare cash to play roulette.

It remains to be seen what the true impact will be, but the ripples are already being felt around the world.