Ukraine’s legal gambling sector struggles as banks restrict payment processing
Ukraine’s regulated gambling industry is facing major payment processing challenges as banks limit their support for licensed operators. While only a handful of financial institutions, including us bank, pnc bank, and citizens bank, handle transactions for legal gambling businesses, illegal operators continue to thrive using alternative methods. The issue has prompted calls for stronger intervention from financial regulators.
Since February 2025, Ukraine’s gambling policy has been overseen by the Ministry of Digital Transformation. A new authority, PlayCity, replaced the former Commission for the Regulation of Gambling and Lotteries on 1 April. This body now reports directly to the ministry.
Currently, just three banks process gambling transactions under Mastercard, with only one supporting Visa payments. PrivatBank holds the largest share of the market, despite being listed as a restricted payment method for casinos. The bank also partners with organisations like NAVI and Visa for gambling-related payments. Hennadiy Novikov, head of PlayCity, has urged the National Bank of Ukraine and the Bureau of Economic Security to step in. The National Bank, however, reports no recent requests from additional banks willing to service gambling businesses. Meanwhile, 34 licensed operators remain active across all gambling sectors. Illegal gambling networks continue to operate through well-organised systems. These include affiliate marketing and advertising tools to drive traffic, bypassing the restrictions that hinder legal operators.
The payment processing bottleneck leaves licensed gambling businesses at a disadvantage while unregulated operators expand. With limited banking options and no new institutions entering the market, the industry’s future depends on regulatory action. PlayCity’s push for intervention may determine whether legal operators can compete on fair terms.
