Is it Profitable to Start a Gambling Business in Armenia
Armenia is famous for its ancient history and culture, magnificent landscapes and delicious cuisine. Thanks to factors, millions of tourists from different countries visit this country every year. However, in addition to tourists, more and more foreign investors are interested in Armenia as a potentially lucrative market.
Beginning operators often ask “How to start an online casino in Armenia?” The 2WinPower team decided to help novices and experienced entrepreneurs learn the characteristics of the casino business in Armenia.
Unlike the legislation of many post-Soviet countries, gambling laws in Armenia are characterised by loyal conditions for businessmen. Back in 1991, the state faced a shortage of budget funds. To stay afloat during this difficult time, the local government made a wise decision. All types of land-based gambling were allowed within the country.
Today, the most popular entertainments are as follows:
- sports betting;
- casino games.
The permit to conduct the casino business in Armenia contributed to the rapid emergence of a large number of casinos. An interesting fact is that in the early 90s the tax on conducting betting business in Armenia amounted to about 70 per cent of the profit of gaming enterprises.
Such a substantial amount did not scare off the first operators who began their work in this country. Over time, the size of the tax rate has become quite adequate and affordable for many entrepreneurs.
It is noteworthy that there are some rules for gambling and betting business in Armenia:
- Large gambling establishments should be located outside the cities. Gambling laws in Armenia allow operators to open casinos and gambling halls in the vicinity of big cities. As a rule, such establishments are located in hotels. They are aimed primarily at foreign tourists. Some travel companies willingly cooperate with businessmen working in the field of gambling in Armenia. They provide discounts and bonuses for tourists wanting to play games of chance.
- Mandatory licensing. The process of obtaining a license to conduct a casino business in Armenia is quite simple. All that is required from an entrepreneur is to collect the necessary documents and submit an application. The cost of the permit is rather reasonable. Also, operators have the opportunity to launch Armenian online casinos using an international license. To get such a permit, it is necessary to register a company in an offshore zone. Many countries offer favourable tax conditions for representatives of the gaming business.
- Strict control over the age of players. According to the laws of the casino business in Armenia, it is forbidden to provide gaming services to persons under the age of 21. Besides, the government pays special attention to the problem of gambling addiction. Conscientious operators should warn their customers about the risks associated with excessive interest in games of chance.
- The tax rate depends on the location of establishments. The rules of online gambling in Armenia are characterised by almost equal tax conditions for all operators. As for land-based gambling in Armenia, the amount of the tax fee depends on the location of establishments.
As already mentioned, the land-based gambling industry is focused primarily on foreigners. Due to low incomes and the unstable situation in the economic sector, many Armenian citizens could not afford to visit real casinos.
The emergence of online gambling in Armenia has allowed many people to try their hand at poker, roulette and slot machines. Over the years, online entertainments have become an affordable alternative to luxury gaming establishments.
Moreover, online gambling in Armenia has turned into the most convenient way to participate in gambling and betting activities. The difficult period of the economic formation of the state after the collapse of the USSR is long over. Online entertainments are in demand among people of various incomes nowadays.
The most important potential risk that may be faced by the representatives of the gambling business in Armenia lies in attempts to change the gambling legislation. The fact is that for many years, representatives of public organisations have been trying to fight the gaming industry. Their main argument is the danger of games of chance due to the possibility of gambling addiction emergence.
However, health experts argue that a ban on gambling will not bring positive changes, but in contrast, increase existing risks.
The closure of legal establishments and online projects will provoke:
- the flourishing of the underground business;
- money laundering;
- tax avoidance;
- the reduction of financial contributions to the state budget.
The authorities agree with this statement. Besides, the gaming industry brings about $22 million to the government annually. Refusal from gambling can lead to unpredictable economic consequences. That is why the gaming legislation of Armenia has remained practically unchanged for many years.
Analysts claim that operators wishing to buy turnkey online casinos in Armenia can be confident in the profitability and stability of their future projects.
How to start an online casino in Armenia? First of all, you need to choose the optimal format for launching your project. There are two main methods for starting new gaming platforms.
The first option lies in the independent search for suppliers, preparation of documents, selection of gaming content, installation of security systems and many other tasks. Some novice businessmen cannot cope with these challenges on their own.
The best solution here is to buy turnkey online casinos in Armenia. This option is also suitable for businessmen willing to open online casinos in Armenia in the shortest possible time.
Thanks to the professional support of an intermediary company, the collection and preparation of documents will become a simple procedure.
Besides, cooperation under the White Label program does not require personal permission. Operators can use the temporary license provided by the mediator
Customers will not risk their money. They will not have to enter into contracts with unreliable vendors and dubious producers. Businessmen will get only high-quality products from well-known manufacturers
The selection of relevant content
Time-tested companies provide a large assortment of demanded content. AR and VR entertainments are especially popular among gamers
Reliable website protection
The purchase of a turnkey casino includes the installation of cutting-edge and effective security software. Special program components can identify potential fraudsters at the registration stage
Many entrepreneurs want to open online casinos in Armenia nowadays. It is not surprising because this country is characterised by good conditions for conducting a gambling business:
- the opportunity to obtain a permit in Armenia or provide services under an international license;
- high demand for online gambling;
- fast process of launching new projects;
- adequate tax rates;
- time-tested, stable market;
- the loyalty of the government.
If you want to start working in this market, you should consider buying turnkey online casinos in Armenia from 2WinPower. This format of launching new gaming platforms allows operators to save a lot of time and money.
To find out the details of this and other offers, please contact our managers. We are ready to start working on any project and implement all your ideas.
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