Nodirzhan Juraev, leading the regulation of crypto-asset turnover at the National Agency for Prospective Projects (NAPP) in Uzbekistan, revealed alarming figures concerning the annual outflow of funds due to online gambling. Estimates suggest that anywhere from $300 million to $1 billion is siphoned abroad each year from Uzbekistan's economy, highlighting the pervasive impact of underground gambling activities.
Juraev emphasized the voluntary nature of participation in gambling and underscored the absence of legal avenues for such activities within Uzbekistan. Despite legal constraints on land-based casinos and offline gaming establishments, online gambling thrives due to regulatory gaps.
In response to the growing challenge, Uzbekistan plans to lift the ban on bookmakers and gambling establishments starting January 1, 2025. This decision marks a shift in the country's approach, with previous attempts to legalize bookmaking facing revisions and setbacks. As the nation seeks to establish a regulatory framework, authorities aim to address the burgeoning underground gambling scene while potentially tapping into the economic benefits of a regulated gambling industry.
