Mongolia is among the countries in the Central Asia situated between China and Russia. It is a Landlocked country situated between the two countries. The capital and the largest city is Ulaanbaatar. Thus, in Mongolia, which is a country where traditions and innovations are combined, the gambling environment is rather specific and gradually developing. It is with such information that this blog seeks to enrich its readers on aspects of Betting Sites in Mongolia and Mongolia Sports Betting including the legal aspects, advantage and possibilities.
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Table of Contents
Summary of Key Events
The Evolution of Legalized Gambling in Mongolia
Over the years, gambling in Mongolia has evolved in a big way. The first attempt to regulate this area of business can be attributed to the year 1998 when the Law on Casino was passed. However, due to the corruption scandals, this law was repealed soon after this. In 1999 the law was enacted banning the gambling where it outlawed both the provision of the services and engagement in gambling activities.
The Repeal and the New Hope
- 1998: The first reading of the bill on Casinos.
- 1999: Elimination of the Law on Casino, and introduction of tougher bans.
- 2022: Laying of the draft laws on Casino, Betting, and Lottery before the Parliament.
The new draft laws submitted in 2022 shows the possible change in the legal framework in the hope of enhancing tourism and economy.
Regulatory Bodies Governing Gambling
Regulation is quite strong in Mongolia. The Ministry of Justice and Home Affairs is the body that has the responsibility of implementing the laws on gambling. Also, there would be the creation of a new Commission for the supervision of the casino if the new laws are to be enacted.
Functions of the Commission
- Approval of Gaming Rules: The following are reasons why international standards should be adopted and adhered to;
- Inspection of Casino Activity: In this case, proper checkup and assessments should be done from time to time.
- Licensing and Revocation: Licensing and at some point de-licensing based on an organization’s level of compliance.
Prohibited and Permitted Bets
It is a must for anyone who wants to bet in Mongolia to know what is and what is not permissible in the country. Though majority of gambling is forbidden, sports betting has turned to be an exception.
What is Prohibited?
- Casinos: Has been outlawed since 1999.
- Online Gambling: It is also prohibited by the above prohibition umbrella.
What is Permitted?
- Sports Betting: Permitted because it is classified as a game of skill and not of chance.
- Lotteries: It has the permission and is regulated by the government.
Gambling License of Betting Sites in Mongolia
Gambling business is an attractive opportunity, but getting the license for it is a rather complicated process. The draft laws put forward a plan for a competitive bidding for the licenses which will be valid for two outlets.
License Details
- Initial Fee: Total grants amounted to MNT 35 billion (USD 17. 6 million).
- Validity: It is 10 years, with possible extensions.
- Revenue Sharing: All business persons are required to remit to the government 40% of their daily profits as income tax.
The Most Famous Betting Sites in Mongolia
Nevertheless, there are many betting sites in Mongolia, which contains a wide range of sports to bet on and live streams.
22Bet
22Bet Sports: It has been known for high odds and variety of events to choose to place a bet on.
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Dafabet
Dafabet: It has a large sports market and live streaming functions.
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Betandyou
Betandyou Asia: Concentrates on Asian handicaps and superior customer relations.
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Why Choose These Sites?
- Variety: Many options for the sports to wager on.
- Reliability: Establishing the company’s good reputation when it comes to the safe and secure transactions.
- Customer Support: Other benefits include; quality customer service whereby support is offered to the clients at any time of the day.
Some of the Major Events in Mongolian Sports
Thus, Mongolia has always had a strong tradition of sports events that have always interested the population of the country. From the early days of simple games to the present day’s inter-continental tournaments, these are the moments that prove the Philippines’ passion for sports.
Traditional Sports
- Naadam Festival: Feasting the ‘three manly games’ that are wrestling, archery and horse racing.
- Mongolian Derby: Also famously known as the worlds toughest horse race and it covers 1000 kilometers.
Modern Achievements
- Olympic Medals: Mongolian athletes winning most of the wrestling, judo, and boxing.
- Football and Basketball: The use of social networks is becoming more and more widespread especially among the young people.
Celebrating Mongolian Sports Stars
Mongolia has given birth to many sportsmen who have earned fame and fortune for the country. It makes people want to follow their dreams and become like them since they are role models of the sporting world.
Wrestling Champions
- Tsagaanbaatar Khashbaatar: Gold medals in Beijing Olympics held in the year 2008 and the second one in the Olympics held in London in the year 2012.
- Tuvshinbayar Dorjkhand: It is a bronze medal at the 2004 Athens Olympics.
Boxers and Archers
- Tugstsogt Nyambayar: Obtaining silver medal at the Olympic games held in the year 2012 in London.
- Bishindee Enkhbat: Bronze medal at the Rio Olympics held in the year 2016.
Gambling Environment in Other Countries
This paper seeks to analyze the attitude and policies of Mongolia with regard to gambling, especially in relation to its neighbors, China and Russia.
China’s Gambling Laws
- Strict Prohibition: This is not true for Macau though because casinos are legal and in fact, popular in the area.
- Online Gambling: Very limited and very much prohibited.
Russia’s Gambling Regulations
- Designated Zones: Gambling is legal but the permission to gamble is granted only in certain zones.
- Online Betting: It is allowed but to some extent and under supervision.
Kazakhstan’s Approach
- Regulated Markets: Yes, to both land based and online gambling.
- Licensing and Taxation: Strict rules of the company with very high costs of compliance.
Conclusion
Regulated sports betting is slowly being accepted in Mongolia and this presents a good chance for locals and foreigners. Thus, although the way to complete legalization is still a long one, the situation now is already quite positive. New to betting or have been doing it for years, it is always essential to know the laws that govern the experience for the best results and fun.
FAQ about Betting Sites in Mongolia
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