Alexander Lukashenko, the president of Belarus, has signed the order that legalises online gambling in the country. The new decree sets in motion a new system of licensing and taxation of online activities in the country.
The Decree №305 also defines the requirements and conditions to conduct online gambling in the country. Those companies interested in offering online gambling services will be required to obtain a licence and to hold a security deposit to a special account dedicated for the payment of winnings and the payments in the event of financial insolvency.
Casino owners will also have to provide tax authorities with remote access to virtual gambling establishments and connect it to a special system that provides control over the turnover of their businesses under the new regulatory scheme.
Moreover, Lukashenko also increased the age limit to visit gambling establishments from 18 to 21 years. According to the highest authority of the country, the measure is set to minimise the harmful effects of gambling on young people.