The gambling sector in Ukraine has become a crucial contributor to the state budget. It paid 11.7 billion hryvnias in taxes in the first eight months of this year alone. This marks an impressive 2.1-fold increase compared to the same period in 2023. The numbers highlight the rapid growth and economic importance of the industry. The figures highlight the sector’s resilience and expansion, even amid broader economic challenges. The substantial tax payments reflect the broader trend of increasing revenues and activities within the gambling sector.
For more context, last year the gambling industry contributed 10.4 billion hryvnias to the state budget. This figure was 51 times higher than pre-war levels in 2021. The dramatic increase is due to flourishing online gaming platforms, improved regulations, and a growing number of licensed operators in Ukraine. The overall rise in revenues has been remarkable. Tax revenues from gambling poured into the state budget at a rate 14 times higher than in 2022.
In the first half of 2024 alone, the gambling sector paid an impressive 8.4 billion hryvnias in taxes. This amount nearly tripled the figures from the same period in 2023. This significant increase showcases the sector’s growing economic influence. Among the top contributors, Favbet stands out, having paid over 3.1 billion hryvnias in taxes within the first six months of this year. The company’s significant contribution highlights the increasing role of key players in the gambling industry in supporting Ukraine’s public finances.
The continued growth of the gambling sector boosts the national economy. It also helps finance important state initiatives. Despite challenges such as the ongoing geopolitical crisis, the industry’s upward trajectory illustrates its resilience and adaptability. As the sector continues to expand, its contributions to the state budget are expected to grow. This positions the gambling industry as a key pillar of Ukraine’s economic recovery and future development.
