The law of July 14, 2020, which defined the functioning conditions for the gambling market in Ukraine, solved the main problem – gambling has come out of the shadows and become more open to public. “In addition, the person who directly controls the activities of the online casino, after the start of the full-scale invasion, financed the veterans of the so-called “svo”. The online casino itself continues to operate in Russia and on Russian web resources,” the SBI claims. Available in both free demonstration and real-money formats, these games cater to all player preferences. The demo option allows risk-free exploration of game mechanics before committing actual funds. Their money is used to finance the power bloc, the Russian defense-industrial complex, and the armed aggression against Ukraine, SBI notes.
The minimum deposit across all payment methods is 500 Indian rupees (approximately $7). As is well known, last December the Pechersk Court did indeed arrest the owner of the Pin-UP casino, Russian citizen Dmitriy Punin, and several of his accomplices. However, the arrest was purely declarative — Punin has long been in Cyprus and his extradition is not expected anytime soon.
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For Yedynyi Prostir, cooperation with Diia has never https://pin-up-site.in/en-in/ been about profit; it is an image project where the company invests rather than earns. And to be able to do all this, there are regular commercial projects, where the company earns on fees and invests into its development and improvement of services for the state. In 2023, it was reported that the Commission for the Regulation of Gambling and Lotteries would apply financial sanctions to LLC “Ukr Game Technology” (PIN-UP brand). The size of the fines was not specified, as was the specific reason for the punishment.
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Ukraine has successfully overcome the first step on the way to a healthy, competitive and, most importantly, transparent market. The State Bureau of Investigation reported that its officers detained the nominal owner of a company that operated in Ukraine under the PIN-UP online casino brand. It is alleged that he spent a long time in Cyprus, where he was in contact with the real Russian owners of PIN-UP. The company considers the accusations unfounded, as stated in an official statement. The SBI notes that the nominal owner of a company operating in Ukraine under the brand name of PIN-UP online casino has been detained.
This protects the system from failures, which cannot be guaranteed by a single bank, even a state-owned one. Secondly, the price of services, Yediniy Prostir won the tender for these services, our offer was the most favorable for the customer. You also need to understand that none of the government agencies pays the financial company, all earnings come only from administrative fees. First, it is necessary to put an end to legislative changes and ensure equal rules for all market players. Secondly, we need to reduce taxation levers that are currently insane and hinder market development – offline segment has the most difficult situation.
- Investigators claim that the actual owners of the company are Russian citizens, and Zotko had no legal sources to contribute UAH 30 million to the authorized capital of the company, which received a gambling license.
- There are significant reasons for this, chief among them being Dmitriy Punin’s business partner, Cypriot businessman Stavros Demosthenous, who has a rather specific background.
- He stood out even among his peers for his cruelty and aggressiveness, which allowed him to emerge victorious from the gang war at the beginning of the 2000s.
- It is also worth noting that he was given a suspended sentence of only two years for theft under aggravating circumstances, which suggests someone’s intervention, likely by his father.
- On December 5, it became known that the State Bureau of Investigation suspects the beneficial owners and top managers of the Pin-Up online casino of aiding Russia.
Law enforcement officers have detained the nominal owner of the online casino PIN-UP, which is suspected of laundering Russian money. According to the investigation, the real owners of this casino are Russians. You can play casino games, place bets, join promos, and cash out your winnings with no lag or redirects. Created for perfect performance on Indian devices, the app keeps it light, responsive, and easy to manage.
A Russian businessman residing in Cyprus anonymously stated that Stavros is involved in every Russian-owned business in Limassol — “Dig into any company and you’ll find Stavros there.” Legalization of the market in Ukraine covered betting, casinos, poker, and lotteries at once, so this is a confident step forward. No other country, and the gambling market exists in almost all civilized countries, has taken such a bold step. The United States is moving from state to state in legalization, there is progress in Europe, Brazil has been trying to move forward for 5 years, but shadow schemes have been operating there all this time.
The platform combines a wide variety of online casino games, live dealer tables, and sports betting markets. Licensed under Curacao Antillephone N.V., Pin Up Casino ensures fair play, transparent payouts, and reliable customer support. Demosthenous controls a wide network of betting outlets on the island, and the same sources say that Punin’s club carried out match-fixing in coordination with Demosthenous’s betting companies.
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Thirdly, it is imperative to close the possibility of operating in the gray market, which currently accounts for 40-45% – this must be done rigorously and irrevocably. No licensed product can compete when almost half of the market is in the shadows and pays players large bonuses, tax-free winnings, and other perks. The marketʼs urgent need is for two-way communication with the regulator. The regulator should highlight market issues, directly communicate state requirements, and reach consensus. The main thing in this process is the desire of the state and the regulator.
He is accused of aiding the aggressor country, including granting a license for the operation of the Pin-Up casino. The Ukrainian justice system is unlikely to reach the others if they remain in Cyprus. Streamed in HD, games are hosted by professional dealers who interact with players in real time. You can sit at Indian-themed tables or try international favourites, all from your phone or laptop. PIN-UP appeared in Ukraine at the end of 2020, even before the official legalization of gambling in the country.
- Their money is used to finance the power bloc, the Russian defense-industrial complex, and the armed aggression against Ukraine, SBI notes.
- Pin Up online casino offers its customers demo game options so that newcomers do not risk money.
- The United States is moving from state to state in legalization, there is progress in Europe, Brazil has been trying to move forward for 5 years, but shadow schemes have been operating there all this time.
- All registered players can claim an impressive welcome package worth up to 25,000 rupees.
- Perhaps someone thinks that in this way they can close one of these companies to their advantage, which is very doubtful for me, because regulatory authorities have no questions to my companies.
The site’s graphics and advanced design are other advantages many Indian Pin Up users mention in the reviews. To start playing the mobile version of our website, you don’t need to download anything. The only step you have to complete is to visit our platform from any smartphone or tablet you have (including Windows Mobile and Blackberry). By joining our platform, you can enjoy the Pin Up Casino Aviator game, which has become very popular among players worldwide, including India. There is a plane that goes higher and higher and there is a multiplier that rises while the plane is on the screen. You can wait until the multiplier increases, but you should be careful as the plane may fly away and if you fail to cash out, you will lose the stake amount.
The SBI noted that PIN-UP’s ties with representatives of the Russian Federation and entities subject to sanctions in Ukraine were documented. Financial flows were also established in the interests of filling the Russian budget and supporting armed aggression against Ukraine. A detailed FAQ section provides immediate answers to common questions.
Further developments may reveal a much deeper influence of Russian shareholders than it seems at first glance. According to the SBI, the suspect stayed in Cyprus for a long time, where he maintained contacts with Russians who are the real owners of the online casino. The SBI statement emphasizes that the investigation has documentary evidence of PIN-UP’s ties to Russian representatives, Russian capital, and sanctioned entities in Ukraine. Back in the spring of 2023, the National Security and Defense Council imposed sanctions on a number of gambling operators that are somehow connected to Russia.
Currently, the PIN-UP brand in Ukraine is nominally owned by Igor Zotko. The latter became the owner of the Ukrainian part of the PIN-UP brand in March 2023, having bought the business from a “mysterious investor”. An honest review of the pros and cons of the Pin Up betting site can be summarized as follows. This is evidenced by the story of Punin’s arrest last year — he not only got released from custody very quickly, even references to the arrest vanished.
All the games in this category are provided by the most popular software vendors, including Ezugi, Evolution Gaming, Pragmatic Play, Lucky Streak, Playtech, and others. We financially help the Foundation to implement the LINE-UP humanitarian project, which provides emergency assistance to Ukrainians in frontline settlements. Volunteers travel to remote de-occupied areas, where there are often no shops, and help the locals with everything they need. In addition, the Foundation participates in the restoration of cultural monuments and purchased a generator for the Kharkiv subway to ensure its operation. Like most Ukrainians, we were shocked by the outbreak of a full-scale war.
According to the investigation, the suspect contributed UAH 30 million to the authorized capital of a legal entity engaged in organizing online gambling, the origin of which has not been legally confirmed. However, your selected payment provider might apply their own charges – review their terms before proceeding. A key benefit is the app’s low data consumption, making it accessible even with limited internet connectivity.