Armenia is located in the south Caucasus and is a transitional country that is located between Europe and Asia and neighbors with Turkey, Iran, Georgia and Azerbaijan. Armenia became independent on September 21, 1991 based on the referendum. Armenian gambling has developed rapidly; it gradually moved from the traditional lotteries to the contemporary internet betting. This blog is devoted to betting sites in Armenia and contains information about legal framework, overseeing bodies, and popular sports betting sites.
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Table of Contents
Summary of Key Events
Historical Evolution of Gambling Regulation and Laws
Gambling in Armenia: Origins
Gambling in Armenia is not new; it was during the Soviet era that people were only allowed to gamble through lotteries and horse race bets. All these activities were controlled under the Soviet rule and the government had a firm control on all forms of betting.
Post-Independence Legalization
Armenia gained its independence in 1991, and since then the nation has gone through many changes regarding its gambling industry. At the beginning only lotteries were allowed. However, over the years Armenia began to allow more gambling operations to be established in the country.
- 1991: Thus, the independence provided the continued legal status to lotteries.
- 2004: It was a turning year because sports betting and casinos were legalised as well as online gambling.
Recent Amendments
New measures were introduced in 2018 because the rates of problem gambling increased. The legal age limit for gambling was raised, and some stringent provisions were put in place to check the cases of gambling disorder.
Armenia’s Jurisdiction in the Field of Gambling Regulation
Armenia’s gambling business is regulated by a number of authorities and acts that promote fairness and responsibility in the business.
The Ministry of Finance
This single administrative body that is the Ministry of Finance is the foremost regulator of gambling licenses and the gambling business. All gambling services must be licensed and regulated by the Ministry; therefore, operators must secure a license.
Key Regulatory Agencies
- The Armenian Lotteries Company: Supervises the running of the lottery activities.
- The State Revenue Committee: Supervises the gathering and remittance of taxes as well as tax filing.
- The Ministry of Justice: Complying to the legal practices in the industry.
License and Fees of Betting Sites in Armenia
Armenia offers various gambling licenses, each with specific requirements and fees:
- Lottery License: As for the AMD, it is 600,000,000 per year.
- Online Gambling License: The annual budget is 600,000,000 AMD.
- Casino License in Tsaghkadzor: According to the survey the costs and expenses of the company are AMD 180,000,000 per year.
- Casino License in Yerevan: AMD five point five billion US dollars per year.
Prohibited and Permitted Bets
Armenia has many opportunities for betting and at the same time, there are some prohibitions to prevent citizens’ harm.
- Permitted Bets
- Sports Betting: Such as football, basketball and tennis.
- Casino Games: It includes slot machines, poker, and tables games among others.
- Lotteries: Lottery of the state and inter-state.
- Prohibited Bets
- Underage Gambling: Tight measures on the age limit of the users.
- Unlicensed Operators: Tough measures for persons engaged in unlawful gambling.
Taxation and Revenue
It should be noted that gambling business in Armenia is regulated by certain taxes. The government takes the revenues and spends it on different services and projects in the society.
- Tax Rates
- Fixed State Duty: More specifically, there is no percentage based taxation; instead, operators are required to pay a state duty.
- Player Winnings: Subject to a 21% income tax which will be reduced to 20% from 2023.
Some of the Most Used Betting Sites in Armenia
Armenia has a good number of known betting sites where players can place their bets on various sports events. Here are some of the most popular ones:
22Bet
22Bet
Being one of the best bookmakers with a vast choice of sports and casino games, 22Bet offers a convenient website and a list of bonuses for newcomers.
Up to £122
Betandyou
Betandyou
It is famous for offering a wide variety of world sporting events and having a simple design of the website.
Up To £120 + £30 Free Bets
1Xbet
1xBet
Having been in existence since 2006, 1Xbet has many options for sports and casino games for all gamblers to enjoy.
Up To £100
The major events of Armenian sports history
Historically and culturally, Armenia has always been known for its sports activities, which have undergone the development process to produce great milestones.
- Olympic Achievements
- Armenia and its athletes have been part of the Olympic movement since 1994 and has been a successful nation in gymnastics, weightlifting and wrestling. Some of the famous personalities are Yurik Vardanyan – a wrestler and Levon Aronian – a chess player.
- Football Success
- The national football team has reached the UEFA European Championship on two occasions, one of which was in 2020 the other in 2021 which is considered a major milestone in Armenian sports.
- Wrestling and Weightlifting Dominance
The Armenian wrestlers and weightlifters have always performed well in different international tournaments and have emerged winners with medals and other trophies.
Armenian Sports Stars
Armenia, as a country has nurtured several great athletes who have done themselves proud on the world arena.
- Yurik Vardanyan
- A great weightlifter of all time, Vardanyan claimed three Olympic gold medals and many world championships and records.
- Levon Aronian
- The famous chess grandmaster, Aronian, is one of the most celebrated players in the field with numerous World Chess Championships win.
- Arthur Abraham
- Abraham was a African born boxer who competed in the middle weight category and was a great champion in the ring.
Analysis of Gambling Laws in Neighboring Countries
Armenia has neighbor countries, all of which have different gambling legislations therefore the gambling laws of Armenia differ.
- Georgia
- Georgia allowed gambling since 2002, although the regulation of this activity is tied to strict licence conditions and taxes. Both Casinos and online gambling are allowed.
- Azerbaijan
- Gambling is forbidden in Azerbaijan to a great extent. Lotteries are generally permissible; however, casinos and almost all other types of gambling are prohibited.
- Turkey
- Turkey has some tough laws that regulate gambling, making it mostly unlawful to engage in gambling-related activities with the exception of state lotteries and particular kinds of horse racing.
Conclusion
Thus, it is possible to state that Armenia has a rather diverse and, at the same time, rapidly developing gambling market that is open to both players and companies. The country’s coherent rules and the licensing procedure are a guarantee of the proper work and prevention of unfair practices. No matter if you are a fan of sports betting, casinos, or lotteries, the country has something to to offer.
FAQ: Betting Sites in Armenia
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