The legal iGaming market in Ukraine continues to develop
In Ukraine, after the legalization of gambling in 2020 year, the market is gradually recovering from a long shadow. According to the latest data, volume of the legal gambling market in 2025-2026 year may reach approximately UAH 59 billion, at the same time, tax revenues to the budget are estimated at up to about 19 billion UAH per year - a significant part of which has already been paid by licensed operators.
IN 2025 year, dozens of operators are present in the register of licenses of Ukraine, including online casinos, bookmaker services and poker platforms, which reflects the development of the segment and growing interest from players.
The shadow segment remains a significant challenge
Despite progress, The illegal gambling market in Ukraine remains large. According to research results, its share ranges from approximately 40% to more than 50% of the total market volume, which indicates a large-scale shadow, in which unsupervised operators work.
This shadow segment is estimated at about 37.7 billion UAH to 66.5 billion UAH per year, which is comparable to the official market in volume and represents serious competition for licensed companies.
The aggressive growth of the “black” segment negatively affects the income of legal businesses: according to market participants, Due to illegal gambling, legal operators may lose about UAH 15 billion in revenue in 2025 year compared to potential, which they could get without illegal competition.
📊 Rating of iGaming brands in Ukraine (2025)
| Place | Brand / Company | Main activity | Income, billion ₴ (2024) | Comment |
|---|---|---|---|---|
| 1 | Fawbet (FAVBET) | BC + online casino | 21,32 | Leader in revenue, about 38% of the market. |
| 2 | Slots U.A. (Betking / 777) | Online casino + BC | 12,41 | Second in revenue; betting license. |
| 3 | GameDev (SLOTS CITY) | Online casino | 6,98 | Significant revenue growth. |
| 4 | Great Game (Native APPS) | Online casino | 4,69 | Large increase in income in the ranking. |
| 5 | First Element (F1RST) | Online casino | 2,54 | Sustainable income, stable brand. |
| 6 | ChampionCasino (Lemon) | Online casino | 2,54 | Strong revenue growth over the year. |
| 7 | VBet (VBET) | BC + casino + poker | 2,29 | International brand on the Ukrainian market. |
| 8 | Cosmolot (Spacesix) | Online casino | 1,12 | Lost my leadership position, but remains at the top. |
| 9 | Ukrainian National Lottery (UNL) | Lottery | 0,87 | The only lottery operator in the top 10. |
| 10 | Starbloom Gaming (SLOTOR777) | Online casino | 0,81 | New player in the ranking. |
Explanations for the rating:
- The ranking is based on the income of gambling operators in 2024 год полсии Opendatabot Index, which takes into account the profits of large companies and their place in the Ukrainian iGaming market.
- The top 10 included: bookmakers, so and online casino, and also leader of the national lottery market.
- Some brands demonstrated significant revenue growth over the year and strengthened their positions in the rankings.
- Beginners are 777 wash, which will become top in 2026 year.
Key regulatory changes and controls
IN 2025 Ukraine began to implement state system for online monitoring of the gambling market (DSOM), which allows you to track in real time the operations of licensed operators - rates, payments and other transactions.
Regulatory reform also includes the elimination of the previous regulator (KRAIL) and transfer of powers to a new government agency PlayCity, which should increase transparency and efficiency of market control.
Besides, the state has strengthened measures against illegal platforms, blocking thousands of illegal sites and punishing violations of the law, and also creates a system to identify and stop illegal gambling advertising.
Main trends of the Ukrainian iGaming market at the beginning 2026
Revenue growth online casino: Total online casino revenues are already higher than last year, showing steady growth. For example, V 9 months 2025 profit from online casinos amounted to more than 45,5 billion hryvnias, which is 8% higher, than in the same period last year.
Operator diversification: Leading market companies include Ukrainian and international brands, present in Kyiv, Dnieper and other cities. This indicates the internationalization of the industry and the attraction of investment from outside.
Legal control and blocking: Ukraine carries out large-scale blocking of illegal casinos and gambling platforms, as through Internet providers, and through cooperation with large technology companies.
The Ukrainian gambling market in 2025–2026 shows a mixed picture: On the one side, the legal sector is developing, brings taxes to the budget and is strengthened through new monitoring systems, on the other hand - the shadow market remains a significant problem, taking away part of the income from legal operators.
Continued regulatory reforms, increased control, Digitalization of supervision and active fight against illegal platforms are key factors, which will determine, Will Ukraine be able to bring the gambling market out of the shadows and strengthen its stability in the coming years?.
