Montenegro‘s Ministry of Finance has developed a new legal framework to modernize the Law on Games of Chance.
The Ministry has started consultations with stakeholders. This includes the public, media, state authorities, local communities, and businesses, to discuss amendments and resolutions.
We need to establish a new law to create safe and responsible gambling environments. It should foster sustainable growth in the gaming sector free from financial crime. It must also address public health and social concerns related to gambling.
The consultation process began on October 21. They extended the deadline until November 25 due to high interest. It will now include a review of stakeholder suggestions for the final draft.
The key objective is to establish a new legal framework. This aims to ensure fair competition among organizers and includes stronger supervision to enforce regulatory compliance.
State Secretary for Finance, Jovana Nišavić, stated that Montenegro would finally have a new legal framework for games of chance after two decades. The new law will focus on key pillars, including the protection of minors and young people. It will include provisions to limit advertising, maintain a safe distance between betting facilities and schools, and ensure player identification both at bookmakers and online.
The gambling sector of Montenegro has raised many concerns, even as the proposed reforms aim to modernize its gambling framework. This emphasizes potential concerns, as well as negative impacts for operators and customers.
The draft proposes prohibiting online gambling deposits through payment cards or in-person transactions at retail locations, which is a matter of utmost concern.
The approach will exclude e-banking and mobile banking options. These options are commonly used across EU markets and comply with EU payment directives. Glaring limitations risk driving players towards unregulated platforms, eventually undermining market integrity and reducing government tax revenues. Over time, this is a consequence that will likely become evident.
