President of Uzbekistan Shavkat Mirziyoyev has signed a decree legalizing betting activities in the country starting from January 1, 2025.
As per the information shared by the Ministry of Justice, the new law is aimed at curbing the outflow of money from the country and addressing issues related to gambling addiction, reports Kun.uz News.
The decree outlines the below:
- Online risk-based games and bookmaking activities will be permitted.
- Licensing for organizing lotteries, online games, and bookmaking will be granted by the National Agency of Perspective Projects (NAPP) in accordance with existing legislation.
- Both residents and non-residents of Uzbekistan who are 18 years old and above will be eligible to participate in lotteries, online games, and bookmaking bets organized under licensed operations.
- A tax regime will be implemented for a period of 5 years for these activities. Legal entities conducting gambling will be subject to a 4 percent tax rate after deducting winnings and refunded stakes from their total revenue.
- Income tax exemptions will be granted to individuals for winnings obtained from licensed lotteries, online games, and bookmaking bets.
The NAPP and the Department for Combating Economic Crimes under the General Prosecutor’s Office will be responsible for monitoring and enforcing compliance with legislation regarding the prevention of money laundering, terrorism financing, and proliferation of weapons of mass destruction by organizers of lotteries, online games, and bookmaking activities.
The decree was developed after a thorough study of other countries’ experiences with gambling, including Singapore, Hungary, South Korea, and Georgia.