Mongolia Legalizes Sports Betting and Prohibits All Other Types of Gambling

In order to safeguard its citizens from fraud and stop the national currency’s cash from leaving the country, the Mongolian government has enacted a new law that legalizes sports betting but bans all other types of gambling.

Photo: Mongolian flag (screenshot https://www.youtube.com/@FlagFootage)

A new law that forbids all other types of gambling has been adopted by the Mongolian government, legalizing sports betting. A customized licensing system for sportsbooks will be implemented as part of the new restrictions, which are intended to reduce the possibility of fraud and other Internet crimes affecting Mongolian citizens. To safeguard national economic security, government officials are also eager to halt the export of national currency.

New ideas have been presented to penalize those found to be engaged in illegal gambling. These include fines of up to ₮100,000 (US$28.80). Existing legislation will be amended to target those who permit the use of telecom networks, payment portals, money exchange services, or personal accounts for these kinds of activities.

Actions to Be Taken Against Businesses That Violate the Law

According to a National Statistics Committee survey, 200 economic crimes were reported in 2023, resulting in a loss of ₮417.2bn (US$120.2m) by 2024, said Chief Cabinet Secretary Uchral Nyam-Osor. He went on to state that the majority of those implicated in these crimes were young people between the ages of 18 and 39. Data from a financial inquiry revealed that Mongolia had moved ₮1.7 trillion (US$489.7 million) to other nations.

Even though 6,000 domain addresses that engage in online gambling have been blocked by the Communications Regulatory Commission, these websites have modified their linkages and are still up and running. Furthermore, the Antimonopoly Agency has fined businesses that violate the law, but the fine only amounts to ₮13 million (US$3.7 million) per the current legislation. The Mongolian government will thus change the pertinent legislation to outlaw these kinds of activities. Additionally, advertisements for gambling services and premium puzzle games will be banned in Mongolia.

Earlier, the Mongolian government began a fight against 1xBet, one of the world’s best betting sites online, which has been operating illegally in the country since 2015.