4H AGENCY
This market overview was prepared by Ivan Kurochkin, Head of Eastern Europe Desk, Partner and one of the founders of 4H Agency.
After 10+ years’ experience in consulting every type of clients from the testing laboratories to global operators and B2B providers on a variety of matters related to the gambling operations, Ivan has proven himself to be a business- oriented
COST & TERMS OF THE LICENCE
Gambling licenses in Armenia remain valid indefinitely unless voluntarily relinquished by the operators or revoked by the regulator.
u
Online gambling license ~US$ 1,561,000 per year;
u
Land-based casinos from ~US$ 91,000 to ~US$ 14,309,000 per year, depending on the location;
u
Land-based slot machines halls license from ~US$ 91,000 to ~US$ 14,309,000 per year, depending on the location;
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Sports betting license from ~US$ 91,000 to ~US$ 14,309,000 per year, depending on the location
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Lottery license fee ~US$ 1,561,000 per year
Additionally, besides license fees operators are also required to obtain the right to accept bets:
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To accept bets in the amount of ~US$ 260,1m operator is required to pay the fee in the amount of ~US$ 910,500 for 2025, ~US$ 1,3m for 2026, ~US$ 1,8m for 2027, and ~US$ 2,2m for 2028.
u
To accept bets in the amount of ~US$ 130m operator is required to pay the fee in the amount of ~US$ 260,000 for 2025, ~US$ 390,200 for 2026, ~US$ 520,000 for 2027, and ~US$ 650,000 for 2028.
KEY ADVERTISING RESTRICTIONS
In Armenia, gambling advertising is subject to strict regulation. Under the current legal framework, advertising of online and land-based gambling is only permitted in limited locations:
u
On the official websites of licensed operators,
u At licensed land-based venues, and u
Within four- and five-star hotels and border checkpoints.
Advertising of offshore gambling operators, including those using domains other than .AM, is strictly prohibited.
In 2025, the Armenian government supported a draft law aimed at tightening advertising restrictions even further. Te bill proposes to ban all gambling-related advertising at hotels and border points. Tis legislative initiative is part of a broader policy to reduce public exposure to gambling promotions and protect social values.
LOCAL MARKET SPECIFICS
Armenia’s gambling regulations are becoming increasingly structured, reflecting a hybrid approach that combines liberal online access with strict geographic and operational controls. Land-based casinos are permitted only in designated resort zones or under large-scale investment projects approved by the government, while betting and lottery venues are restricted to one per administrative district and capped at 200
square meters. Online operators must operate under the “.AM” domain, with all games and equipment connected to a centralised monitoring platform overseen by a licensed sub-regulator – a system inspired by Georgia’s successful regulatory model.
Te framework also allows licensed operators to accept foreign currency and potentially target international players, which adds flexibility for cross-border businesses. However, these positive developments are now overshadowed by a wave of tightening financial and compliance obligations. New rules introduce dramatically higher license fees, advertising restrictions and other strict measures, placing a heavy burden on operators.
Tese measures, while aimed at improving transparency and reducing gambling-related harm, may backfire. High costs and operational pressure risk pushing licensed businesses out of the country, shrinking the white market and opening the door to unregulated operators. With the market still dominated by a handful of major domestic players, and advertising opportunities strictly limited, the recent changes could discourage new entrants and slow innovation.
Despite these challenges, Armenia still holds strong online potential, thanks to its digital infrastructure and young, tech- savvy population. But whether the country can balance consumer protection with sustainable industry growth remains an open question.
multi-jurisdictional advisor for entering new markets across the globe. His background helps him to choose the best and most efficient scenarios for expansion to new market or for bringing existing operations of the Agency’s clients to a significantly new level.
If you are considering venturing into the markets of CIS countries or seeking expert advice on navigating the complexities of the gambling industry, Ivan is the go-to person. Take action now and reach out to Ivan to explore how 4H Agency can support your endeavours in the vibrant and evolving landscape of the CIS region.
4H Agency is a global gambling advisory. We provide expert guidance to B2C operators and B2B providers, spanning market insights, payments, product localisation, regulations, licensing, public affairs, and more.
ik@4h.agency
t.me/Ivan_Kurochkin https://4h.agency
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