Belarusian President Aleksandr Lukashenko has hinted at the possibility of prohibiting offshore gambling platforms from targeting consumers in the country, citing economic concerns and social dangers. The President proposes new gambling regulations to prevent the outflow of gambling revenue to offshore platforms, stating that these funds must be invested locally.
Key Notes of the Story
- The government is authorising a decree that will prevent banks from facilitating international payments related to gambling.
- The new legislation will enforce protective measures for vulnerable consumers, allowing family members to request gambling blocks for relatives showing signs of problem gambling behaviour.
- The upcoming statutes emphasise greater control over player behaviour, financial transactions, and the influence of offshore gambling operators.
President Calls for Tighter Regulations
President Lukashenko, in a recent meeting with the Council of Ministers, called for significant reforms in gambling operations, specifically online sports betting platforms, that are regulated in the nation. The President stressed the role that banks can play to curb the risks associated with offshore gambling platforms.
Lukashenko says banks need to stop outbound payments from Belarusian consumers to foreign gambling websites. He believes that the issue goes beyond financial regulation. The president stated that it’s the national duty to protect vulnerable groups, such as minors, economically weaker sections of society, and people displaying signs of gambling addiction, adding:
“It is necessary to ensure that children and incapacitated individuals don’t have access to gambling platforms. This type of entertainment should only be available to solvent people. This is not the first time that we have raised this issue. However, it’s no secret that the industry is flourishing in Belarus. The industry is in the pink, figuratively speaking.
We have sufficient experience in regulating the gambling industry, and it is time that we finalise the rules. We have come across several examples of problem gambling where individuals lost all grip over their addiction, leading to severe financial distress. They take on debts, sell property, and acquire loans to fuel their gambling addiction. It affects them, their families, and society as a whole.”
Steps to Curb the Outflow of Gambling Funds to Offshore Platforms
Among the terms proposed by the president, a moratorium on gambling with borrowed money stands out. Lukashenko tabled the idea to empower struggling families to request a gambling block on behalf of a relative.
The president also stressed the importance of resisting revenue drainage to offshore platforms. “The money from lost properties goes to foreign gambling operators, which is now a matter of principle,” he said, expressing concerns over fund outflow to operators based outside Belarus.
Lukashenko’s most concrete proposal involves banning all offshore gambling payments from Belarusian citizens. He instructed the authorities to explore ways to prevent banks from processing such transactions. “Banks should be barred from transferring gambling funds to companies outside the country. The money earned here should be invested within our borders,” he stated.
The president requested the government to look into these issues and propose viable solutions in an upcoming draft decree. He also asked officials to submit regular reports on how these “sensitive issues” are being handled. Several international online gambling sites and sports betting platforms target Belarusian players. These platforms are mostly licensed in Europe, particularly in neighbouring Russia.