Georgia Plans Radical Reforms for Gambling Market

Georgia is poised to implement significant reforms in its gambling industry, driven by concerns over its "catastrophic" popularity, as stated by the country's new Prime Minister, Irakli Kobakhidze. Reports indicate a staggering increase in the total turnover of the Georgian gambling sector, reaching nearly $20 billion in the past year alone. To address this, the government has approved a stringent set of restrictions set to take effect on July 1, 2024.

These impending regulatory changes mark the most radical reforms in Georgia's gambling sector since 2021. Previous measures, such as raising the gambling age to 25, banning gambling advertisements, and increasing taxation, failed to curb industry growth effectively.

Under the new regulations, individuals will be prohibited from participating in any form of gambling in unlicensed physical or digital spaces, including internet cafes, bars, and shops. Violators will face significantly increased fines of up to $30,000, five times higher than previous penalties.

Moreover, licensed operators, including bookmakers and online casinos, will face new requirements mandating the implementation of responsible gaming measures. This includes mechanisms to identify and exclude problematic or underage players from engaging in gambling activities.