VIDEO: The Pros and Cons of Online Betting - Alen Simonian

During a meeting of the Economic Affairs Standing Committee, a draft law on amendments to the RA law on lotteries was presented for discussion.

Armenia cannot completely ban the existence of betting companies and casinos, especially online services, as it would incur billions of dollars in costs with incomplete results. This statement was made by RA National Assembly Deputy Alen Simonian during the meeting.

He noted that 60 percent of bets are made online, which allows for at least some control over the flow of money, participation by minors, and more.

According to Simonian, online betting will be permitted in Armenia if the servers of the organizer are located within the country, they have a corresponding Armenian Internet Protocol (IP) address, and the information resources are in the "AM" or "HAY" domain zones.

Article 5.1 stipulates that a citizen deemed to have limited capacity due to their family being put in a financially difficult situation as a result of gambling can have their participation in the betting process (including online betting) restricted. "In other words, a family member can seek a court order to prohibit gambling, which is very important, and in the case of the online realm, this is easier and more manageable," he said.

Simonian pointed out that online betting has its pros and cons. "The positive side is that we can control minor participation, game entries and exits," he said.

For more details, watch the video from Shantnews.