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Predictions About the Future of Online Gambling in Armenia

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What Armenia online casinos offer?

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History of Gambling in Armenia

The Romans brought with them a love of both of the circus and gambling. Though they were more popular among the lower classes, aristocrats also enjoyed the races. As with most things Roman, these traditions vanished when they fell.

The conquering of what is now Armenia by Byzantine and Arab armies also had an effect on gambling in the region. The Byzantines typically allowed gambling, but only for those who could afford it. Though Islam banned gambling, the Arabs popularized chess as a way of wiling away the hours.

Armenian gambling would not reach its peak until after the Mongols swept through in the 13th century.

In this period of relative anarchy, many small warlords would set themselves up and quickly be swept away. Many would set up makeshift casinos on their land to make money. Most of these warlords were not big on collecting money from their customers, leading to an atmosphere where patrons would often overlook the fact that the warlord was technically stealing from the casinos. These warlords would also employ enforcers to intimidate people who tried to cheat, though it is likely that many of these enforcers were actually on the take themselves.

Though the gambling industry flourished during this period, the lack of security meant that many gamblers soon found themselves in deep debt. This sometimes lead to them becoming indebted to violent criminals rather than the casino, which could be even worse. Eventually, a warlord known as Ashot the Brilliant would unite the region into the Kingdom of Armenia. He outlawed gambling and dismissed the enforcers and managers of the remaining casinos.

Credit Cards

While credit cards are not common, they can be used in some places. A merchant in a large city or capital is more likely to accept them than a small merchant in a rural village.

The most popular credit cards are from Royal Vekap Bank and The Iron Gate Bank. Each of these banks have only recently opened up their first branch in the country, and as such don't have a very large presence in Armenia. They are, however, beginning to gain momentum.

Wire Transfer

Armenia has three banks that offer wire transfer services: Royal Vekap Bank, The Iron Gate Bank and the National Bank of Armenia.

The first two banks have only relatively recently arrived in the country and have begun making a name for themselves. The National Bank of Armenia has been operating in the country for a long time, and as such has the most market penetration.

The Iron Gate Bank is known to be run by greedy bankers who are only interested in making money. The Royal Vekap Bank is known to be run by honest bankers who are interested in making their customers happy.

Cryptocurrency

While not in common usage, some shops and merchants are starting to accept cryptocurrency like BitCoin. While this is a relatively new concept in the country, the first Bitcoin ATM was recently installed in Yerevan, the largest city in Armenia.

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Online Gambling Laws and Regulations in Armenia

The online gambling industry in Armenia is entirely unregulated. There are no laws that limit or ban it, and there are currently no plans to implement any kind of regulation in the foreseeable future.

As a result, all existing online gambling websites can continue operating at full capacity without any problems. All new online gambling sites are also allowed to open up and offer their services to people living in Armenia.

This does not mean the government is entirely absent from the online gambling scene. There are still certain rules and regulations that operators have to follow in order to do business within the country. All online gambling sites must possess a valid gambling license from an appropriate regulating authority.

As a result, all existing gambling sites have acquired the necessary licenses to operate legally within the country. New gambling sites must also apply for and acquire a license before entering the Armenian market.

Predictions About the Future of Online Gambling in Armenia

The online gambling industry in Armenia is not facing any major hurdles and is expected to grow steadily in the years to come. There are few legal and regulatory concerns, but these are unlikely to affect the online gambling market in a major way.

The online gambling market in Armenia is still in its early stages and has a lot of potential for future growth.As more people get access to the internet and have more reason to trust online gambling websites, the industry will grow.

This is especially true as more and more offline gambling options become available. In a desperate attempt to increase tax revenue, the government has legalized casinos and is actively working on establishing gambling destinations throughout the country.

While this could help the tourism industry in Armenia, it also provides an affordable alternative to online gambling for local residents who would otherwise not have had any legal options before.

Armenia Casinos FAQ

faq-question ❓Is land-based gambling allowed in Armenia?❓
The government tries to limit and control gambling as much as possible. As a result, land-based gambling is illegal in the country. Only one legal land-based gambling facility exists in all of Armenia. It's a state-run casino that only caters to foreign tourists.
faq-question ❓Is online gambling allowed in Armenia?❓
Online gambling is legal in the country and is regulated by the government. There are many licensed online gambling sites in operation. The government does not impose any additional licensing requirements on online gambling companies other than those that are already in place. This is a positive sign for the future of the industry as it means that the government has no plans to introduce draconian laws restricting the industry anytime soon.
faq-question ❓What is the main online gambling authority in Armenia?❓
The National Commission on Gambling (NCG) is the main authority when it comes to gambling of any kind in Armenia. The NCG was established in 2006 and is tasked with ensuring fair gambling activity in the country. The main purpose of the commission is to protect the public from the potential negative effects of gambling, but they also make sure that gambling activity doesn't lead to any criminal activity.
faq-question ❓What are the online gambling laws in Armenia?❓
The laws regarding online gambling are very strict in the country. It is illegal for anyone who is under 21 years of age to gamble online. The government has also banned gambling sites from promoting their websites or offering services to residents of Armenia. There have been many attempts by offshore gambling sites to skirt these restrictions by covering their tracks and providing misleading information about the location of their servers. However all these attempts have failed and the government has successfully blocked all such sites from operating in the country.
faq-question ❓What is the online gambling age in Armenia?❓
Anyone under the age of 21 is prohibited by law from gambling online in the country. This also extends to advertising and promotion. It is illegal for gambling sites to market to or promote gambling to anyone under the age of 21. There are harsh fines and penalties for companies and organizations that fail to abide by this law.
faq-question ❓Is it safe to play in online casinos in Armenia?❓
Playing in online casinos is a completely safe activity as long as you do so from a reputable site. The safety of your personal and financial information when gambling online is of prime importance, and all major online casinos go to great lengths to ensure that players data is kept secure at all times. You can be sure that playing at a licensed and fully regulated casino is safe. Any other sites are operating illegally and you should avoid them.
Ted

Author & Guarantor: Ted