The Mongolian government has approved new legislation to legalize sports betting, while maintaining a strict ban on all other forms of gambling.
Under the new legislation, a licensing system will be introduced specifically for sportsbooks. This framework aims to protect Mongolian citizens from fraud and other online crimes by regulating the industry more tightly, readwrite reported.
Officials also cited the importance of preventing the outflow of national currency to safeguard Mongolia’s economic security.
As part of the reforms, new penalties have been proposed for individuals involved in illegal gambling activities. Offenders could face fines of up to MNT 100,000 ($28.83).
Amendments to existing laws will also target those who facilitate illicit gambling, including people who allow the use of personal bank accounts, payment systems, money transfer services, or telecommunications networks for such purposes.
Chief Cabinet Secretary Uchral Nyam-Osor, citing a survey conducted by the National Statistics Committee, said that about 200 economic crimes linked to gambling were recorded in 2023, causing losses of MNT 417.2 billion ($144 million).
“Mainly young people aged 18-39 were involved in these crimes,” he noted. “Financial investigation data shows that MNT1.7tn ($541.8 million) has been transferred from Mongolia to foreign countries.”
“Although the Communications Regulatory Commission has restricted access to 6,000 domain addresses that conduct online gambling, these sites have changed their links and are still operating,” Nyam-Osor said.
He added that current penalties are too low, with the maximum fine at MNT 13 million. “Therefore, we are going to amend the relevant laws to ban such activities,” Nyam-Osor stated.
Additionally, Nyam-Osor confirmed that the authorities will also ban gambling ads and restrict paid puzzle games that mimic gambling.
Original article: https://www.yogonet.com/international/news/2025/03/11/97827-mongolia-legalizes-sports-betting-maintains-ban-on-other-gambling-activities
