FAVBET didn’t pay 235 million in taxes
After the start of a full-scale invasion, many companies staged real competitions, trying to outdo each other in helping the army. The gambling business was no exception, because the money is spinning there, and the market itself is very compact. However, as it turned out, some companies are trying in this way to “excuse” old sins, writes from-ua.
“The Ukrainian budget received another 117 million from FAVBET. The company once again paid for the license“. Absolutely identical materials with such a headline were published by many Ukrainian media at the end of last year.
Of course, such revenues to the budget (and even more so during the war) are wonderful. But the devil, as you know, is in the details. Namely, in the words “once again.”
From the publications it is not clear what kind of license in question. However, the amount indicated in the articles makes it clear that FAVBET paid for the betting license. This information is also confirmed by the Commission on the regulation of gambling and lotteries (CRAIL). So what’s the problem? And the fact that the company paid for such a license for the first time. This can be easily checkby visiting the regulator’s website. At the moment, only four players have official permission to conduct betting activities, three of which are already under the RNBO sanctions – and FAVBET, as a key bookmaker, is not on the list of licensees. Perhaps the company decided to expand the list of services available to the player and plunge into the world of gambling? Again no.
The fact is that FAVBET has been providing betting services to its customers for many years, but it does it “in the dark”. The situation could change after the legalization of the gambling business, but no – the company decided not to spend money on an expensive license, instead buying only a permit to operate in the field of online casinos. What is most amusing, this is confirmed by the company’s management itself.
“As a responsible company and one of the market leaders, this year FAVBET not only makes regular royalties, but also increases the licensing of its activities in order to support the national economy during the war and bring our victory closer”, — quotes Delo edition of CLO by Mikhail Prikhodko’s FAVBET in the material dated December 30, 2022.
“Increasing Licensing Volumes” – this is the purchase of a betting license, without which the company has worked perfectly for more than two years. It is very easy to confirm this by going to one of the many siteswhere reviews about bookmakers are collected.
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