The draft law on permitting the activities of foreign sports betting and online casino companies in the Republic of Armenia was approved by the Finance, Credit and Budget Commission of the National Assembly of Armenia. The decision was announced on Monday. As reported by SNG. Today in a press release from the Republican National Convention.
Under this law, foreign companies must comply with the same licensing conditions as local companies. Those wishing to place bets at online casinos must open a special account in advance. You can only top up this account yourself. This initiative will allow the authorities to increase transparency in the gambling sector.
Gevorg Papoyan, Head of the Commission and co-author of the legislative initiative, explained that this will allow, for example, to tighten the control over welfare spending. This will also allow authorities to better monitor the market and get a more detailed view into the business activities of the sector.
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