Among the most popular and profitable gambling types are slots, slot machines or fruit machines. Their principle of operation lies in usage of a random number generator so that the game result cannot be predicted. The reels (usually three to five) with various symbols are spinning on the display of the slot machine, computer screen or telephone. If you manage to collect certain symbols in a line, the winnings are yours. The payout for a particular combination depends on how unlikely it is to collect a set of such symbols. It is impossible to change the sequence of symbols, so each new spin gives the same chances as any other.
The outcome of the slot game is a pure matter of chance, so the gambler needs to rely only on luck. But business owners should not take risks – it is better to entrust resolving of legal issues to specialists
Slots can be played both offline and online. As a rule, slots are placed in casinos or in separate gambling clubs. For gambling organizers the advantage of slot machines lies in their autonomy from employees. However, opening a slot machine hall or an online hall requires not only registering a company, obtaining licenses, opening bank accounts, but also resolving administrative issues: searching and renting premises, purchasing slot machines, connecting them to software, recruiting staff etc. All this is accompanied by the execution of a large number of contracts, certificates and requires scrupulous observance of applicable law.
For many years VigoLex team has been supporting the gambling business in jurisdictions where it is allowed, and is ready to provide comprehensive services, including not only legal support, but also assistance in solving other tasks.
In 2020 the law on gambling business legalization came into force in Ukraine, which includes slot machines.
In order to open a slot machine hall in Ukraine you must have:
- a gambling license for a slot machine hall and a license for each unit of hardware;
- a 3/4/5-star hotel with 50 guest rooms in Kyiv or a 3/4/5-star hotel with 25 guest rooms in other territories with the population of at least 10 thousand inhabitants. Thehotelmaybeownedorusedonthebasisofaleaseagreement;
- one or more premises with the total area of at least 500 m²;
- the premises must be located not closer 500 m from educational institutions;
- at least 50 slot machines in a single premise (one license allows you to use 250 slots).
As in many other areas, the online slot machine segment is becoming more user-friendly thanks to its worldwide availability, multiple slot types and concepts. It is very profitable for business owners to launch online slots and operate simultaneously in several jurisdictions, for example, with a license from Curacao, Malta and the United Kingdom. But organization is not as simple as it seems at first sight. In addition to creating software and obtaining a license, you will need to connect the payment system, gamblers’ identification systems, and ensure compliance with the legislation in the field of personal data protection and advertising.